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March 22 – The Australian government stated on the 22nd that although fuel imports have been impacted by the conflict with Iran, supplies remain sufficient and there are no plans for rationing. Regarding the panic buying of gasoline in a few areas, the government urged the public to refuel rationally. Australian Climate Change and Energy Minister Chris Bowen said in a television interview that as of the 21st, the countrys reserves of petrol, diesel, and aviation fuel were sufficient for 38 days, 30 days, and 30 days respectively, and fuel supplies remained "strong."Market news: Fannie Mae and Freddie Mac have made large-scale purchases of mortgage-backed securities.March 22 - Iranian President Ayatollah Peschizian posted on social media this evening (March 22), stating that "attempts to wipe Iran off the map are a desperate trampling on the will of a nation that makes history. Threats and intimidation will only strengthen Irans unity. The Strait of Hormuz is open to everyone except those who violate Iranian territory. Iran will resolutely confront these insane threats on the battlefield."On March 22, U.S. Treasury Secretary Bessenter defended the U.S. and Israels attacks on Iranian infrastructure, claiming that "sometimes you have to escalate to de-escalate." This came shortly after Trump gave Iran 48 hours to open the Strait of Hormuz and threatened to destroy its power plants. Bessenter defended Trumps remarks, saying it was "the only language the Iranians understand." Bessenter also addressed Kharg Island, a key hub for Iranian oil production, claiming that "all options are being considered," including sending U.S. troops to control the island. Bessenter further defended the decision to ease some sanctions on Iran, claiming it was a "soft approach" to the Iranians—using their own oil to retaliate against them.Israeli military: We targeted an Iranian military base used for training soldiers and storing missile systems.

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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