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Bank of Japan Governor Kazuo Ueda: The energy shocks that began around 2021 have been widespread and persistent, enough to help Japan escape its old deflationary cycle, but have not led to the inflationary spiral of the early 1970s.Bank of Japan Governor Kazuo Ueda: On the contrary, if these channels are not activated, large-scale shocks can still remain temporary.Bank of Japan Governor Kazuo Ueda: Temporary shocks could become persistent if they alter wages, expectations, and pricing behavior.On May 27, 2026, local time, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with Bahraini Foreign Minister Zayani on the sidelines of the UN Security Council High-Level Meeting in New York. Wang Yi stated that as a good friend and partner of Bahrain and other Gulf countries, China sincerely hopes that peace and tranquility will be restored to the Middle East and the Gulf region as soon as possible. President Xi Jinping solemnly put forward four propositions on maintaining and promoting peace and stability in the Middle East, clarifying a responsible attitude and a fair stance. This war should not have happened, and there is no reason for it to continue. The urgent task is to promote a comprehensive and lasting ceasefire. The international community should increase its efforts to promote peace and work together to ease tensions and de-escalate the situation, especially opposing any attempts to escalate tensions. China supports Pakistan and other countries in continuing their active mediation efforts and is willing to closely coordinate with Bahrain and other Security Council members to ensure that the work of the Security Council moves in the right direction towards a political solution and to jointly strive for lasting peace and stability in the Middle East.Bank of Japan Governor Kazuo Ueda: The line between temporary inflation and persistent inflation is not mechanical.

BTC Fear & Greed Index Falls Despite BTC Avoiding Sub-$16,000

Jimmy Khan

Nov 24, 2022 15:40

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Bitcoin (BTC) increased by 2.44% on Wednesday. BTC finished the day at $16,613 after rising by 2.87% on Tuesday. For the first time in three sessions, BTC avoided trading below $16,000.


BTC dropped to a low of $16,168 early in the morning following a mixed day's start. BTC surged to a late high of $16,682, avoiding the First Major Support Level (S1) at $15,791. At $16,469, the First Major Resistance Level (R1) was breached by BTC, which ultimately closed the day at $16,613.


On Wednesday, FTX contagion risk decreased even further, supporting the cryptocurrency market desperately needed. Former FTX CEO Sam Bankman-Fried boosted investor hopes after learning that the company had cash reserves of $1.24 billion.


Bankman-Fried wrote in a letter to the staff, "Perhaps there still remains a chance to preserve the company. I think there are many billions of dollars in sincere interest from new investors that could be used to compensate customers. But since I have no control over it, I can't guarantee you anything.


The letter came after news that Justin Sun of Tron and Brad Garlinghouse of Ripple were interested in buying FTX assets. Investors are hopeful that the collapse of FTX will have a minimal effect on creditors given the stated cash holding of $1.24 billion.


The FOMC meeting minutes provided more assistance for the cryptocurrency market overnight. Before the holidays, talk of letting up on the gas helped riskier assets, with the NASDAQ Composite Index increasing by 0.99%. The US economic data underwhelmed, though, restricting the NASDAQ's potential growth.


Since the US markets are closed for Thanksgiving, there are no US statistics to take into account today.


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