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On August 26th, ING strategists Padhraic Garvey and Michiel Tukker stated that market discussions surrounding the U.S. Treasurys decision to double the size of its long-term Treasury repurchase program continue to intensify, but with the Jackson Hole Economic Symposium approaching, market focus will gradually shift to short-term bonds. In a report, the two strategists noted, "Treasury Secretary Bessenter continues to dominate, or rather attempts to dominate, the long-term bond market, while Federal Reserve Chairman Warsh may also want to play a similar role in the short-term bond market, although he is currently choosing to remain low-key." The strategists indicated that Warsh will have the opportunity to further elaborate on his views at the Jackson Hole symposium on Friday.On August 26, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with Uzbekistans Chief of Staff, Mirziyoyeva, in Beijing. Wang Yi stated that China has always been a trustworthy and reliable partner of Uzbekistan, and will, as always, support Uzbekistan in safeguarding its national sovereignty, security, and development interests, in pursuing a development path suited to its national conditions, and in President Mirziyoyevas policies and initiatives to build a "New Uzbekistan." He expressed confidence that Uzbekistan will continue to provide firm support on issues concerning Chinas core interests. China is willing to work with Uzbekistan, guided by the important consensus reached by the two heads of state, to strengthen high-level exchanges, accelerate the construction of landmark projects such as the China-Kyrgyzstan-Uzbekistan railway, promote mutually beneficial cooperation in trade and investment, energy and minerals, culture and people-to-people exchanges, and local cooperation, expand cooperation in emerging fields such as artificial intelligence and renewable energy, and strengthen multilateral coordination to write a new chapter in China-Uzbekistan friendly cooperation.The UK energy regulator OFGEM says the abolition of VAT will benefit customers currently on flat-rate packages, as suppliers will automatically apply discounts.The UKs energy regulator OFGEM announced that from October, the price cap will increase by £60 per year (or £5 per month) to £1,723 for households using both electricity and gas.The UKs energy regulator OFGEM has stated in this update that the governments decision to abolish VAT on all household electricity bills has been reflected in the decision.

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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