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On July 27th, Hyundai Motor Group Executive Chairman Chung Eui-sun stated that the group is transforming into a provider of physical AI solutions, covering autonomous driving, robotics, and AI-driven smart manufacturing. As part of this strategy, Hyundai and NVIDIA will jointly develop a robotics reference platform, providing standardized hardware and software to support startups, universities, and research institutions in more efficiently developing and validating robotic technologies. Hyundai also announced a broader roadmap, including collaborations with Waymo and Google DeepMind. Building on a previous agreement to purchase 50,000 NVIDIA GPUs, the company plans to accelerate the development of digital twin technology and autonomous driving systems.July 27 - According to Xunze (03317.HK), the company has reached a strategic cooperation agreement with Shenzhen Kaihong Digital Industry Development Co., Ltd. The two parties will carry out comprehensive cooperation in three major areas: AI data infrastructure, terminal data tokenization application, and token business model.Apples (AAPL.O) system status webpage indicates that the outage has been resolved for all affected services, including the App Store.On July 27th, Yu Weining, Chief Statistician of the Industrial Statistics Department of the National Bureau of Statistics, interpreted the data, stating that in the first half of the year, against the backdrop of stable industrial production growth and a continued rebound in industrial product prices, the operating revenue of industrial enterprises above designated size increased by 6.5% year-on-year, 1.5 percentage points faster than in the first quarter. The accelerated growth in operating revenue led to a 18.7% year-on-year increase in profits for industrial enterprises above designated size, 3.2 percentage points faster than in the first quarter. Looking at the three major sectors, profits in the mining and manufacturing industries increased by 33.5% and 20.1% respectively, accelerating by 17.3 and 1.0 percentage points respectively compared to the first quarter; while profits in the production and supply of electricity, heat, gas, and water decreased by 4.2%. In June, the profits of industrial enterprises above designated size nationwide increased by 15.1% year-on-year.On July 27th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.4850%, and the lowest was 0.7320%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0130%, and the lowest was 0.9220%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.0610%, and the lowest was 0.9520%.

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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