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On September 17th, according to Futures Market News, in the 38th week of 2026, the total output of refined oil products from independent refineries in China was 2.2054 million tons, a decrease of 66,400 tons from the previous week. Specifically, gasoline output was 671,700 tons, a decrease of 31,200 tons from the previous week; diesel output was 1.5337 million tons, a decrease of 35,200 tons from the previous week. A new round of unit maintenance began at some refineries, leading to a decrease in output from refineries in major regions such as Shandong and Northwest China, resulting in a reduction in the overall refined oil product output of independent refineries nationwide.French European Affairs Minister: The United States, or any other country, has no right to veto the relationship between the EU and Canada.September 17th - According to Nikkei, the Japanese and US governments are in talks to build a semiconductor factory. This project is part of a $550 billion (approximately 85 trillion yen) investment plan in the US agreed upon during tariff negotiations, and is estimated to be worth trillions of yen. Previously, investment in the US was mainly concentrated in the power generation sector; now it will shift to high-tech manufacturing. Operations will be handled by semiconductor foundry giant GlobalFoundries. This information was revealed by negotiators from both Japan and the US.French Minister for European Affairs: (Regarding Trumps remarks on EU-Canada relations) The United States has no right to determine the geopolitical direction of the European Union.On September 17th, a Danske Bank report indicated limited signs of inflation transmission to broader prices in the UK. Core inflation remained at 2.6% for the third consecutive month, and businesses own price inflation expectations for the next year fell to 3.8%. Meanwhile, July GDP growth was 0.4%, and the labor market cooled moderately, which is insufficient to support an immediate interest rate hike. Bank of England Governor Bailey remains inclined to wait and see, and Deputy Governor Lombardy has previously emphasized that a clear second-round inflation effect is needed before adjusting policy. Therefore, a 6-3 vote to keep interest rates unchanged is highly likely on Thursday. The baseline scenario remains that interest rates will remain at 3.75% until the second quarter of 2027. If energy prices remain high and the economy remains resilient, the Bank of England may still implement an "insurance rate hike." Due to relatively aggressive market pricing, if the policy stance is less hawkish than expected, the euro/pound may face upside risks.

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.