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On February 27th, Deng Zhiyong, Deputy Director of the State Administration for Market Regulation and Director of the National Standardization Management Committee, introduced at a State Council policy briefing that the next step will be to further address "involutionary" competition with higher requirements and more concrete measures, promote a better combination of an effective market and a capable government, and provide a solid guarantee for the in-depth advancement of the construction of a unified national market and the achievement of high-quality development. Deng Zhiyong stated that in terms of investigating and punishing illegal activities, the State Administration for Market Regulation has focused on regulatory enforcement, conducted cost verification and enforcement inspections in key industries, deployed nine special rectification actions, investigated and handled typical cases of live-streaming e-commerce such as "Chengdu Kuaigou," held talks with major platform companies to urge them to remove "lowest price across the entire network" activities, stopped controversial rules such as "refund only," investigated and handled a series of cases involving "ghost delivery" and "ghost online stores," and increased the exposure of typical cases to create a strong deterrent, achieving the governance effect of "investigating one case, warning a group of companies, and standardizing an industry."The European Central Banks 3-year CPI forecast for the Eurozone in January was 2.6%, down from a forecast of 2.50% and a previous reading of 2.60%.The European Central Banks 1-year CPI forecast for the Eurozone in January was 2.6%, down from a forecast of 2.70% and a previous reading of 2.80%.Germanys seasonally adjusted unemployment rate in February was 6.3%, compared to a forecast of 6.30% and a revised figure of 6.3% for the previous month.Germanys seasonally adjusted unemployment increase in February was 1,000, compared to a forecast of 2,000 and a previous reading of 0.

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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