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On July 20, the Peoples Bank of China (PBOC) announced that it would keep the one-year and five-year loan prime rates (LPR) unchanged at 3% and 3.5% respectively, marking the 14th consecutive month that they have remained unchanged.Chinas five-year loan prime rate (LPR) as of July 20 was 3.5%, compared to an expected 3.50% and the previous value of 3.50%.Chinas one-year loan prime rate as of July 20 was 3%, as expected and unchanged from the previous value of 3.00%.July 20th Futures News: According to JLC Networks calculations, as of the first working day of July 20th, the change rate was 9.54%, with the average price of benchmark crude oil at $85.30/barrel. Domestic gasoline and diesel prices increased by 450 yuan/ton. The price adjustment window for this round of adjustments will close at 24:00 on July 31st. 1. Shandong Local Refineries: The surge in crude oil prices over the weekend led to a significant increase in oil prices at local refineries. Traders were actively buying, and gasoline and diesel inventories showed a downward trend. The opening rise in crude oil prices further boosted the bullish sentiment, and oil prices are expected to continue rising by around 100 yuan today. 2. East China: On Monday, crude oil prices closed higher, and this is the first working day after the price increase. It is expected that gasoline and diesel prices in East China will continue to rise today, with discounts narrowing in actual transactions. Traders will focus on immediate needs, with cautious buying and selling. 3. South China: On Monday, crude oil prices opened higher, supported by positive news. It is expected that gasoline and diesel prices in South China will maintain an upward trend today, with end-user companies making moderate purchases, and the buying and selling atmosphere remaining relatively stable. 4. North China: Following a rise in international oil prices on Monday, prices opened higher today. Positive news continued to boost prices, and with supply pressure easing, major gasoline and diesel suppliers in North China maintained a strengthening upward trend. Traders focused on immediate needs, with cautious acceptance of higher prices. 5. Central China: On Monday, crude oil prices surged at the close, and with the retail price increase taking effect on the first working day, major gasoline and diesel prices in Central China are expected to continue rising today. Traders maintained immediate needs, and market activity remained weak.Chinas one-year loan prime rate (LPR) up to July 20 will be announced in ten minutes.

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.