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Market news: Refueling restrictions have been implemented at four Italian airports.April 5th - According to Turkeys semi-official Anadolu Agency, the Kuwaiti Ministry of Finance stated on Sunday that the Iranian drone attack on Saturday night caused significant property damage to a complex in Kuwait City, but no casualties. The statement said that the emergency response team and relevant authorities acted swiftly according to established procedures to handle the incident. Employees will work remotely on Sunday, with on-site work resuming on Monday, at which time preventative measures will be implemented.April 5th - Today is the second day of the Qingming Festival holiday. The national railway system is expected to transport 14.7 million passengers, with 768 additional trains planned. From April 3rd to 7th, the national railway system is expected to transport a total of 90.5 million passengers. Regarding road travel, the Ministry of Transport reports that the volume of passenger vehicles on national expressways is expected to exceed 54 million, of which approximately 14 million are new energy vehicles. Today, road travel will primarily consist of short-distance trips, with increased visitor flow to parks, suburban tourist attractions, and cemeteries, putting significant pressure on surrounding roads.April 5th - According to the South China Morning Post, Thailands multi-billion dollar fishing industry has been severely impacted by soaring diesel prices caused by Irans blockade of the Strait of Hormuz in retaliation for attacks by the United States and Israel. The National Fisheries Association of Thailand reports that half of Thailands massive deep-sea fishing fleet is already anchored in port. The association warns that without government intervention, the remaining vessels will soon cease operations. This could be disastrous for an industry involving hundreds of thousands of people, from deep-sea fishermen to high-end restaurants. Boat owners say they are facing unprecedentedly high prices for diesel fuel needed for their fleets. Last week, diesel prices exceeded 45 baht (US$1.38) per liter, more than 30% higher than pre-war levels. They also still need to pay crew wages.April 5th - Economists say the sudden surge in gasoline prices, felt by American consumers, will be fully reflected in key inflation data released this week. The US March CPI is expected to rise 1% month-over-month, the largest monthly increase since 2022; core CPI is likely to rise 0.3% month-over-month. The Iran war previously pushed up gasoline prices at US gas stations by about $1 per gallon. The day before the CPI data release, the Federal Reserves preferred inflation gauge will provide information on pre-war price pressures. Economists expect the core PCE price index to rise 0.4% for the third consecutive month in February, suggesting that even before the conflict, the process of inflation falling back to a more moderate level had stalled. Combined with signs of stabilization in the US labor market, persistent price pressures, and new inflationary risks from the Middle East war, this helps explain why the Federal Reserve may find it difficult to lower interest rates this year.

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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