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On September 9th, it was reported that Xuan Changneng, Vice Governor of the Peoples Bank of China (PBOC), attended the regular meeting of the Bank for International Settlements (BIS) in Basel, Switzerland, from September 6th to 7th, 2026. The central bank governors engaged in in-depth discussions on topics such as the global economic and financial situation, how central banks should respond to supply shocks, the rapid iteration of artificial intelligence technology, the challenges posed by the volatile external environment to monetary policy, and central bank policy communication. During the meeting, Vice Governor Xuan Changneng met with some of the participating central bank governors and exchanged views on issues of common concern.September 9th - Apples 2026 fall product launch event will be held in the early hours of September 10th Beijing time. Industry insiders expect the iPhone 18 Pro series and Apples first foldable screen product to be unveiled. It was also learned on September 9th that this years Apple products will continue to be launched simultaneously on Meituan Flash Sale. On the day of release, Apple Authorized Stores across the country will offer genuine products with in-stock delivery services as fast as 30 minutes.Market news: Japans main opposition party has announced its intention to dissolve.On September 9th, according to US media reports, Indonesian AI infrastructure platform Zankore, backed by Nvidia, signed a $3.1 billion loan agreement on Wednesday to purchase advanced chips, highlighting Asias surging demand for computing power. According to a Zankore statement, Citigroup, ING, Natixis, Qatar National Bank, and UOB underwrote the loan, making it one of the largest AI infrastructure financings in Asia. Citigroup served as the sole debt advisor for the deal. GPU financing is becoming the next frontier for AI lenders, with banks and private credit moving beyond data centers to focus on the hardware that powers them. In Asia, bank-led deals have been scarce due to uncertainty surrounding chip residual value and geopolitical risks stemming from the US-China technology competition.According to Switzerlands 20 Minutes television channel, an explosion occurred at a hydroelectric power station in the Swiss canton of Ticino, injuring several people.

Early Support for ETH and BTC, with US Economic Indicators in Focus

Alina Haynes

Nov 03, 2022 19:39

 截屏2022-11-03 下午7.34.53.png

 

Wednesday saw Bitcoin (BTC) and Ethereum (ETH) join the larger market in the red. The NASDAQ Composite Index, Bitcoin, and Ethereum all fell in response to Fed Chair Powell's news conference. Nevertheless, the technical indications continue to be optimistic, indicating upward price trends. On Wednesday, Ethereum (ETH) fell 3.80%. Reversing Tuesday's gain of 0.32%, ETH closed the day at $1,518.

 

After a turbulent morning session, ETH recovered to a high of $1,622 by late afternoon. ETH surpassed the First Major Resistance Level (R1) at $1,606 prior to falling to a late low of $1,506. ETH ended the day below $1,520 after breaking through the First Major Support Level (S1) at $1,556 and the Second Major Support Level (S2) at $1,535.

 

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On Wednesday, the price of bitcoin (BTC) plummeted by 1.63 percent. BTC ended Tuesday at $20,165, a decrease of 0.04% from its opening price.

 

BTC rose to a high of $20,817 in response to the FOMC Statement, following a range-bound morning. BTC surpassed the First Major Resistance Level (R1) at $20,686 before falling to an intraday low of $20,086. BTC went below the First and Second Major Support Levels (S1 and S2) at $20,327 and $20,154, respectively.

 

In accordance with forecasts, the Fed raised rates by 75 basis points on Wednesday. The FOMC Statement hinted at a likely policy move in December, lending credence to December Fed pivot wagers. The Rate Statement pushed BTC and ETH to their daily peaks.

 

However, Fed Chair Powell dashed prospects for a reversal, citing excessive inflation and the need to continue forward. Powell remarked that the "final level of interest rates will be higher than anticipated."

 

As a result, the NASDAQ Composite Index fell 3.36 percent, sending BTC and ETH into the negative.

 

Today, attention will be on US factory orders, jobless claims, and the ISM Non-Manufacturing PMI. We anticipate the PMI and its subcomponents to have the most effect.

 

Due to the sensitivity of BTC and ETH to US economic statistics and the FED, the correlation with the NASDAQ Composite Index remains intact. The NASDAQ 100 Mini was up 35 points this morning.


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