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September 7th - Australian data center operator AirTrunk Operating Pty stated that due to increasing pressure from US tech giants facing domestic resistance, they are attracted by Australias green power grid and geographical advantages of proximity to Asia, and are therefore interested in building data centers in Australia. Sabu Whitelow, the companys Vice President of Energy and Utilities, said that over the past six to eight months, interest from companies including Google, Apple, Meta, Amazon, and Microsoft in Australia has far exceeded expectations. In an interview, she stated, "Australia has political stability, abundant renewable energy, ample land resources," and is close to major Asian population centers. "We expect this demand to translate into tangible commitments and investments in the coming months and years."French Finance Minister Lescourt: Without a budget, interest rates would rise significantly.On September 7th, Hong Kong Financial Secretary Paul Chan Mo-po, in his opening remarks at the "Co-creation and Co-investment Industry Acceleration Summit" organized by the Hong Kong Science and Technology Parks Corporation, stated that Hong Kongs exports of electronic products and semiconductors are experiencing strong growth, and the capital market has a strong demand for the listing of artificial intelligence companies. Hong Kong, as an international financial center, attracts global talent and is a rapidly rising innovation hub, creating a complementary relationship with cities in the Greater Bay Area. The Greater Bay Area cities possess strong capabilities in advanced manufacturing, commercialization, and scale; according to data from the World Intellectual Property Organization, "Shenzhen-Hong Kong-Guangzhou" is a leading global innovation cluster. He mentioned that the organization will release its new years rankings tomorrow, and he expressed his firm confidence and eager anticipation.On September 7th, according to Qichacha APP, Suanmiao Technology (Beijing) Co., Ltd. recently underwent industrial and commercial registration changes, adding Beijing Artificial Intelligence Industry Investment Fund (Limited Partnership) and others as shareholders, while its registered capital increased to 1.3496 million yuan. Qichacha information shows that the company was established in 2022, and its business scope includes: integrated circuit sales; integrated circuit chip design and services; integrated circuit chip and product manufacturing; and integrated circuit chip and product sales. Public information indicates that the company is a 3D computing chip developer.Germanys seasonally adjusted industrial production month-on-month rate for July and the UKs seasonally adjusted Halifax house price index month-on-month rate for August will be released in ten minutes.

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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