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Yemens Houthi rebels said they attacked targets in Tel Aviv with hypersonic missiles.Colombias oil and gas reserves are likely to increase this year compared to last year, the head of the countrys hydrocarbons agency said on Tuesday. The agency expects to allocate several areas in the upcoming auction for offshore wind projects, with the first round to be held on October 14, the head of the agency, Orlando Velandia, added.The National Highway Traffic Safety Administration: The number of traffic accident deaths in the United States fell 8% in the first half of 2025, reaching the lowest level since 2020.White House: US President Trump signs executive order to prevent Long Island Rail Road shutdown.On September 17th, the price of the nearest gold futures contract hit another record closing high, continuing its rise amid market expectations of an imminent interest rate cut by the Federal Reserve. Gold futures rose 0.2% to $3,688.90 per ounce, marking the third consecutive trading day that the nearest contract has hit a record high. Bank of America said in a report that economic data indicates that the current financial environment is favorable for gold. The bank noted: "Concerns about stagflation—generally bullish for gold—remain a focus for precious metals market participants." Bank of America also stated that the 2.9% Consumer Price Index (CPI) reading in August also provided support for gold. "Since 2001, gold prices have never fallen when the US CPI was above 2% and the Federal Reserve implemented monetary easing."

BTC Eyes a Return to $19,500 to Target $20,000 and Deliver an ETH Boost

Cory Russell

Oct 18, 2022 16:01

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Bitcoin (BTC) increased 1.03% on Sunday. BTC lost 0.60% on Saturday but recovered to close the week down 0.91% at $19,267. Notably, BTC avoided a drop to below $19,000 by failing to surpass $20,000 for the eighth session in a row.


After a choppy morning, BTC dropped to an early low of $19,067. BTC climbed to a late high of $19,428 while eluding the First Major Support Level (S1) at $18,966. Both the First Major Resistance Level (R1) and the Second Major Resistance Level (R2) were breached by BTC at $19,202 and $19,332, respectively. BTC, however, was unable to reach $19,500 and fell down into R2, ending the week at $19,267.


On Sunday, Ethereum (ETH) gained 2.43%. ETH lost 1.62% on Saturday but gained 1.28% towards the end of the week to reach $1,306.


ETH saw a bullish start to the Sunday session, rising from a low of $1,275 in the early morning to a late high of $1,316. At $1,297, ETH overcame the First Major Resistance Level (R1). ETH slipped down to conclude the week at less than $1,310, falling short of the Second Major Resistance Level (R2) at $1,318, however.


Because there were no noteworthy events on Sunday, dip buyers returned in anticipation of a reasonably calm week on the US economic calendar.


Despite increasing odds of 75 basis point Fed rate increases in November and December, the upside still occurred. When the economy starts to falter, it is hoped that the Fed would ease up on the throttle.


An increase in market risk appetite was fueled by the UK Gilt market's return to order during this morning's session, providing support. The NASDAQ Mini was up 139.25 points before the start of the US trading day.

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