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September 18 - The State Council Information Office will hold a press conference on the theme of "Starting the 15th Five-Year Plan" at 10:00 a.m. on Friday, September 18. Chen Shaowang, spokesperson and vice minister of the Ministry of Housing and Urban-Rural Development, will introduce the relevant situation of promoting high-quality development of housing and urban-rural construction during the 15th Five-Year Plan period and answer questions from reporters.September 18th - According to Axios, US President Donald Trump is planning his first meeting with Venezuelan interim president Delcy Rodriguez as early as next week. Sources say the talks may take place during the UN General Assembly in New York. Trump plans to discuss the situation in Iran with Gulf leaders concurrently and hopes to arrange a meeting with Rodriguez. A Trump advisor stated that Venezuela is one of the Trump administrations key achievements, and Rodriguez is a key figure in promoting US-Venezuela relations. A senior US government official said the meeting is not yet finalized and the final arrangements depend on Trump himself. Trump previously responded "maybe" when asked if he would meet with Rodriguez. Rodriguez assumed power after the capture of former leader Nicolás al-Nimadro in a US military operation and has worked with the Trump administration and Secretary of State Marco Rubio to normalize US-Venezuela relations, including a previously reported major Venezuelan oil deal. The report points out that Trumps side is more focused on domestic political issues such as energy prices and immigration policy than on promoting democratic elections in Venezuela.According to Axios, US President Trump plans to hold his first meeting with Venezuelan interim president Rodriguez as early as next week.Disney (DIS.N) said that pressure from the Trump administration’s previous criticism and regulatory actions against ABC has led it to ask the court to block the Federal Communications Commission (FCC) from reviewing its broadcast license ahead of schedule.Conflict Update: 1. According to Lebanons Al-Ahram newspaper: Saudi Arabia has requested Oman to mediate a two-week ceasefire with the Houthi rebels. 2. Saudi Civil Defense stated that the Houthi rebels launched a drone at Taif, Saudi Arabia. 3. Iranian Revolutionary Guard: At 10:12 AM on the 17th, an advanced air defense system intercepted and destroyed the 53rd US MQ-9 drone over Qeshm Island. 4. UK Maritime Trade Operations Office: A westbound oil tanker reported being pursued and attempted to intercept by a small boat 75 nautical miles east of Aden, Yemen. 5. Trump stated that the war with Iran is approaching a critical juncture, and he needs to decide whether to resume large-scale military operations to push for an end to the conflict. 6. US media: Iranian forces recently shot down at least two US MQ-1 series drones; the specific model involved is currently unclear. 7. Iranian Foreign Ministry: Any act of aggression against Islamic holy sites should be condemned. Meanwhile, the mere claim of intercepting a drone bound for Mecca is insufficient grounds for accusing any particular party, especially since the Houthis have explicitly denied this claim. Other developments: 1. The US approved the Iranian president and foreign ministers trip to New York for next weeks high-level UN General Assembly meeting. 2. Turkeys Ministry of Defense condemned the Houthi drone attack on Saudi Arabia. The Houthi threat to the Red Sea and the Bab el-Mandeb Strait harms global maritime trade. 3. Irans Foreign Ministry, in retaliation for a similar action by Sweden, demanded the departure of a Swedish diplomat. 4. Satellite imagery shows Saudi Arabia is constructing a bypass for a key east-west oil pipeline to bypass pumping stations damaged in previous attacks. 5. Israeli Prime Minister Netanyahu: We must carry this mission through to the end and overthrow the Iranian regime.

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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