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On June 18th, Suren Thiru of the Institute of Chartered Accountants in England and Wales stated that the Bank of Englands next move is more likely to be a rate cut than a rate hike. After the Bank of England kept interest rates unchanged at 3.75% on Thursday, Thiru indicated that the central bank may enter a longer policy wait-and-see period to assess geopolitical uncertainties and domestic political instability. "British monetary policy is currently at a crossroads," Thiru said. The US-Iran peace agreement has boosted market expectations for easing inflation, but if hostilities resume, "the situation could quickly shift back towards raising interest rates." However, he stated that given the still high level of global volatility, the Bank of England is unlikely to initiate a rate cut before next year.Pfizer shares fell 1.4% in pre-market trading after Chief Financial Officer Dave Denton announced his resignation.Futures Market Summary | Thursday, June 18th, CCTV News Highlights: 1. Xi Jinping replies to Xinhua News Agency veteran Zhang Liansheng, emphasizing the importance of inheriting the red gene and writing an excellent chapter on the new journey. 2. Striving to write a new chapter in Chinese-style modernization under the guidance of Xi Jinpings thought on Party building. 3. The Central Leading Group for Party Building issued a "Notice on Studying and Implementing Xi Jinpings Thought on Party Building." 4. Peoples Daily commentator article: Making a major original contribution to the development of Marxist party building theory—On studying and implementing Xi Jinpings thought on Party building. 5. Han Zheng meets with guests from Canada and Denmark. 6. Accelerating the allocation of funds for "two new" projects to continuously release policy effectiveness. 7. The first report meeting of the series of reports on "Guaranteeing and Improving Peoples Livelihood in High-Quality Development" was held in Beijing. 8. Lin Dan: Serving the residents well for life. 9. The State Council Information Office held a meeting with Chinese and foreign journalists on "Striving for the New Journey." 10. The China Theatre Association, the China Folk Literature and Art Association, and the China Calligraphers Association elected a new leadership. 11. National railway transportation for the Dragon Boat Festival holiday begins today. 12. Market supply is abundant as the Dragon Boat Festival approaches. 13. Two departments urgently allocate 100 million yuan in central natural disaster relief funds. 14. The policy dividends of the six-month island-wide customs closure in the Hainan Free Trade Port continue to be released. 15. The import and export volume of the Western Land-Sea New Corridor reached a record high in the first five months. 16. my countrys first carbon footprint database for key industrial products goes online. 17. The Datengxia Hydropower Project in Guangxi passes completion acceptance. 18. The "National Recruitment Action - Beijing Trip" special event for college graduate employment services is launched. 19. Box office revenue for films in 2026 exceeds 16.5 billion yuan. 20. The 2026 China Brand Forum is held in Xiongan. 21. The official text of the memorandum of understanding signed remotely by the US President and the Iranian President is released. The Pakistani Prime Minister announces that the US-Iran memorandum of understanding takes immediate effect. 22. Russia claims that the Russian military has made significant progress in Donetsk. 23. Palestine strongly condemns Israels settlement expansion. 24. The G7 summit concluded without a joint communiqué. 25. The Federal Reserve announced for the fourth consecutive time this year that it would maintain interest rates unchanged.On June 18th, Emma Mogford of the Premier Miton Monthly Income Fund stated that the Bank of England may not need to raise interest rates this year, following the banks decision to keep rates unchanged at 3.75% on Thursday. "Price increases later this year triggered by the Iran war are likely to be offset by weaker demand. Furthermore, wage growth is expected to be only moderate given the relatively weak labor market." The Bank of England approved the decision with a 7-2 vote, with the two policymakers favoring a 25 basis point rate hike.Mayor of Moscow, Russia: The fire at the oil refinery is basically under control.

DOGE Eyes a Return to $0.0850 to Aim for $0.090 as FTX Contagion Declines

Daniel Rogers

Nov 23, 2022 15:37

截屏2022-11-23 下午2.24.11.png 

 

On Tuesday, both Dogecoin (DOGE) and shiba inu coin (SHIB) snapped two-day losing streaks. FTX contagion risk diminished as word of FTX cash holdings and investor interest in FTX assets spread. However, technical indications remain gloomy, with exponential moving averages (EMAs) predicting additional declines.

 

On Tuesday, dogecoin (DOGE) gained 5.23 percent. Reversing Monday's loss of 2.99%, DOGE ended the day at $0.0785. Notably, DOGE closed the day below $0.0800 for the third session in a row.

 

The mid-morning low for DOGE was $0.0729. Avoiding the First Major Support Level (S1) at $0.0715, DOGE climbed to a high of $0.0796 in the early afternoon. At $0.0774, DOGE surpassed the First Major Resistance Level (R1) before retreating. However, a late surge caused DOGE to surpass R1 and close the day at $0.0785.

 

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 as low as 0 pips and a commission rate of $3.50 per 100,000 USD 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 Tuesday, the price of Shiba inu coin (SHIB) increased by 4.76 percent. SHIB closed the day at $0.000000881, reversing Monday's decline of 4.21%.

 

In line with the larger market, SHIB reached a low of $0.00000817 during midmorning. Finding support at the First Major Support Level (S1) at $0.00000816, SHIB surged to a high of $0.00000883 by early afternoon. At $0.00000873, SHIB surpassed the First Major Resistance Level (R1) and closed the day at $0.00000881.

 

FTX contagion risk diminished on Tuesday, providing assistance to DOGE, SHIB, and the broader market. Updates on FTX's assets revealed a substantial cash position, which would mitigate the impact of the company's bankruptcy on its creditors.

 

Reports that Justin Sun of Tron and Brad Garlinghouse of Ripple are interested in FTX assets generated additional support.

 

Nonetheless, Twitter news remained unfavorable for DOGE. There was no new information on Twitter's resumption of the crypto integration project that would promote DOGE adoption.

 

However, investor sentiment increased significantly this morning. Risk of FTX contagion remains the primary motivator. Until the court reveals who FTX's creditors are, downside risks will persist. On Tuesday, the bankruptcy judge ruling over FTX decided to redact the identities of FTX's creditors.

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