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European Central Bank President Christine Lagarde: Europe cannot miss the artificial intelligence revolution.On August 19th, KPMG Chief Economist Yael Selfin stated in a report that although the UKs inflation rate rose to 2.9% in July from 2.6%, marking the beginning of a gradual increase in inflation, this is unlikely to prompt the Bank of England to raise interest rates. She stated that domestic price pressures in the UK are easing, and the inflation level is broadly in line with the Bank of Englands latest forecasts. Selfin also noted that, encouragingly, core inflation continued to slow in July, with the services sector inflation rate falling to 3.4% from 3.6%. Given the less weak labor market compared to 2022, rising energy costs are unlikely to trigger a significant second-round effect in the coming months. She stated, "We expect interest rates to remain unchanged for the remainder of the year."Futures News, August 19th: Shanghai Futures Exchange (SHFE) Energy and Chemical Warehouse Receipts and Changes: 1. Pulp futures warehouse receipts: 373,905 tons, down 515 tons from the previous trading day; 2. Pulp futures mill warehouse receipts: 20,000 tons, unchanged from the previous trading day; 3. Offset paper futures warehouse receipts: 2,758 tons, unchanged from the previous trading day; 4. Offset paper futures mill warehouse receipts: 6,520 tons, unchanged from the previous trading day; 5. Fuel oil futures warehouse receipts: 20,420 tons. 6. Petroleum asphalt futures warehouse receipts: 14,230 tons, down 10 tons from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 26,500 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 2,961,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 330 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.SK Hynix (SKHY.O) shares rose more than 4% in overnight trading on the US stock market, after falling more than 3% earlier, after the company announced formal approval for a 40 trillion won share buyback program.On Wednesday, August 19, the German DAX 30 index opened down 3.12 points, or 0.01%, at 26,148.57; the UK FTSE 100 index opened down 0.76 points, or 0.01%, at 10,727.28; the French CAC 40 index opened up 9.78 points, or 0.11%, at 8,519.14; the Euro Stoxx 50 index opened up 6.08 points, or 0.09%, at 6,474.25; the Spanish IBEX 35 index opened down 0.31 points, or 0.00%, at 19,934.59; and the Italian FTSE MIB index opened up 49.16 points, or 0.09%, at 53,067.00.

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.