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May 6th news, before the Federal Reserve will hold a two-day monetary policy meeting this week, bond investors are neutral, reflecting their continued caution on U.S. trade policies. These policies have the potential to plunge the worlds largest economy into recession. Fixed income investors said they either maintain a neutral position relative to the benchmark, reduce long-term bond exposure, or tend to hold bonds at the short end of the yield curve. Chip Hughey, managing director of fixed income at Truist Advisory Services in Richmond, Virginia, said: "Economic data is getting weaker, and policy shocks may also have an impact on the inflation outlook and deficit levels. We are in an uneasy balance amidst the various economic concerns that are heating up."The Hang Seng Technology Index fell more than 1% during the day, as auto stocks weakened. NIO (09866.HK) fell more than 4.5%, Xpeng Motors (09868.HK) fell 4%, and Sunny Optical Technology (02382.HK) fell more than 3.6%.The dollar rose 0.95% against the Malaysian ringgit to 4.235.The CSI convertible bond index opened flat at 421.92 points. Among them, Outong convertible bonds, Zhongqi convertible bonds, Fenggong convertible bonds, Dongshi convertible bonds, and Aofei convertible bonds rose the most, up 4.36%, 3.51%, 3.11%, 2.16%, and 2.07% respectively. Shengxun convertible bonds, Polai convertible bonds, Yitian convertible bonds, Tezhi convertible bonds, and Hongqiang convertible bonds fell the most, down 5.91%, 1.42%, 1.29%, 0.69%, and 0.65% respectively.The Hang Seng Index in Hong Kong opened on Tuesday, May 6, up 71.88 points, or 0.32%, at 22,576.56 points. The Hang Seng Tech Index opened on Tuesday, May 6, down 1.0 point, or 0.02%, at 5,243.06 points. The CSI 300 Index opened on Tuesday, down 8.55 points, or 0.1%, at 8,222.49 points. The H-share Index opened on Tuesday, down 8.17 points, or 0.22%, at 3,779.89 points.

SHIB Targets $0.00000950 As DOGE Struggles to Reconsider $0.0900

Alina Haynes

Nov 24, 2022 14:52

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On Wednesday, Dogecoin (DOGE) and shiba inu coin (SHIB) joined the broader cryptocurrency market in the green for the second straight session. DOGE and SHIB appreciated as a result of an improvement in mood concerning FTX contagion risk and Fed monetary policy. Nevertheless, the technical indications remain gloomy, with the EMAs indicating a potential pullback.

 

On Wednesday, the price of dogecoin (DOGE) increased by 4.20 percent. Tuesday's close price of DOGE was $0.0818, following a 5.23% increase. Notably, DOGE averted a daily close below $0.0800 for the first time in four sessions.

 

DOGE fell to an early low of $0.0777 due to a mixed start to the day. DOGE surged to an early high of $0.0835 without touching the First Major Support Level (S1) at $0.0744. At $0.0911, DOGE surpassed the First Major Resistance Level (R1) before retreating.

 

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However, a bullish afternoon caused DOGE to reclaim R1 and close the day at $0.0818.

 

On Wednesday, the price of Shiba inu coin (SHIB) increased by 2.72 percent. Tuesday's closing price of SHIB was $0.00000905, following a 4.76% increase.

 

Following the market as a whole, SHIB plummeted to an early low of $0.000000874. SHIB rose to an early high of $0.00000910 while avoiding the First Major Support Level (S1) at $0.00000838. SHIB broke over the First Major Resistance Level (R1) at $0.00000904 before easing back to sub-$0.00000890.

 

However, a bullish session close caused SHIB to reclaim R1 and close the day at $0.00000905.

 

FTX contagion risk diminished significantly on Wednesday, providing assistance to DOGE, SHIB, and the broader market. Hopes of FTX assets reducing the impact on creditors continued to provide price support mid-week.

 

However, the FOMC meeting minutes later in the day provided support for riskier markets. The FOMC meeting minutes revealed members' consideration of lesser rate hikes, bolstering market expectations of a Fed policy reversal in December.

 

In response to the minutes, the likelihood of a 75-basis point rate hike in December decreased from 24.2% to 19.0%. The greater chance of a 50-basis-point rate hike provided more support for the NASDAQ. On Wednesday, the NASDAQ Composite Index climbed by 0.99%.