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On July 30th, the Information Office of the Fujian Provincial Peoples Government held a press conference on the financial operation of Fujian Province in the first half of 2026. The conference reported on the relevant situation of Fujians financial operation in the first half of 2026. In the first half of the year, the total social financing scale of Fujian Province increased by 580.04 billion yuan. At the end of June, the balance of various loans in local and foreign currencies of financial institutions in the province was 9.1 trillion yuan, a year-on-year increase of 2.9%. The balance of various deposits in local and foreign currencies was 9.6 trillion yuan, a year-on-year increase of 7.8%.1. Bailey: The Bank of England is not expected to adjust interest rates this year, and its assessment of quantitative tightening may be overshadowed by inflation guidance and voting disagreements. 2. ING: The Bank of England is expected to hold rates steady throughout the year, with the latest forecast showing inflation approaching 3% in the second half of the year to early next year. 3. BNY Mellon: The Bank of England is not expected to change its policy stance, with at most two dissenting voices. Bailey will continue to emphasize that wage growth is slowing. 4. Berenberg: The Bank of England is expected to keep interest rates at 3.75%, or threaten to tighten policy, but a rate cut seems more likely in the future. 5. UBS: The Bank of England is likely to keep interest rates unchanged at 3.75% by a 7-2 vote. The decision is unlikely to have a significant impact on the pound. 6. MFS Financial: The Bank of England is expected to keep interest rates unchanged, with a cautious stance likely to prevail, and it is likely to remain on hold for the next few months. 7. Reuters poll: The Bank of England is expected to keep interest rates unchanged this year, but the risk of inflation caused by the US-Iran conflict remains, and the slowdown is unlikely to be sustained. 8. InvestBank: Expects the Bank of England to not adjust interest rates this year; current policy is already in a restrictive zone, and there is no need for immediate action. 9. Bank of America: Expects the Bank of England to keep interest rates unchanged, but may leave the door open for future rate hikes. Pay attention to the assessment of quantitative tightening. 10. Commerzbank: The Bank of England will avoid raising interest rates; if the US-Iran conflict ends before the end of September and employment remains weak, the probability of a rate cut is greater than a rate hike. 11. Oxford Economics: Expects the meeting to emphasize the upside risks to inflation and hint at a willingness to raise the benchmark interest rate if a second round of effects occurs. 12. National Institute of Economic and Social Research: Although inflation is expected to rise sharply in the second half of the year, the Bank of England is expected to remain on hold until the end of 2027.July 30th - A World Gold Council report indicates that investment demand is expected to be the main driver of gold demand growth for the remainder of 2026, increasingly supported by over-the-counter (OTC) trading activity and Asian investment demand. Central banks will remain significant gold buyers. High gold prices will continue to suppress jewelry demand, but the response from gold mine production and recycled gold supply is expected to be relatively mild. Gold investment demand is projected to remain positive for the remainder of 2026. OTC trading activity and Asian investment demand are expected to play a greater role, while Western gold ETF flows may continue to be sensitive to US Treasury real yields, Federal Reserve monetary policy expectations, and the dollars performance. Although consumer spending remains relatively resilient, high gold prices will continue to suppress jewelry demand; demand for gold in the technology sector is expected to further benefit from artificial intelligence investment, although downside risks are accumulating.BMW CEO: We are reassessing what technologies, model variants, and powertrains we need for the future.On July 30th, Eckhard Schulte, Chairman of the Board of MainSky Asset Management, stated in a report that Federal Reserve Chairman Warshs avoidance of providing any form of forward guidance makes it extremely difficult for the market to form a coherent analysis of Fed policy. The market will have to adapt to this communication style; the resulting high level of uncertainty will drag down stocks, long-term bonds, and the dollar. Warsh clearly stated that the Fed is serious about its 2% inflation target and intends to achieve it. However, he did not provide a coherent explanation for why the Fed did not heed the opinions of three dissenting members who advocated for interest rate hikes.

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

Alina Haynes

Nov 03, 2022 19:39

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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.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads beginning at 0 pips and commissions of $3.50 every 100k traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

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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