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On October 12, the German emergency rescue department said on the 11th that a tanker caught fire on the coast of the Mecklenburg Bay in the Baltic Sea in northern Germany that day, and all seven crew members had been rescued. According to local media reports, witnesses said that they heard a loud noise at around 9:15 a.m. local time, and soon saw black smoke coming out of the tanker. The report said that the tanker was flying the German flag and carrying about 640 tons of oil, which was used to provide fuel for other ships at sea. The rescue department said that night that the fire had been "basically under control."On October 12, the World Gold Council issued a statement saying that the global central banks gold demand slowed down in August 2024, with a net purchase of about 8 tons of gold. Although the overall global central bank gold demand has fallen from its high point in early 2024, it still maintains a positive growth trend. According to the World Gold Council, in August this year, only four central banks increased their gold reserves, namely the central banks of Poland, the Czech Republic, Turkey and India. So far in 2024, the Central Bank of Turkey has become the largest official net buyer of gold, with a total net increase of 52 tons of gold, accounting for about 35% of its total foreign exchange reserves; central banks in emerging economies accounted for 70% of the global central banks net purchases, of which the Central Bank of Turkey accounted for 25% of the global net gold purchases. Analysts at the World Gold Council said that although the performance of gold prices is not the primary strategic driver for global central banks to buy gold, its continued upward trend may affect the global central banks gold purchases. But it is worth noting that the amount of gold sold has not increased, which may indicate a potential wait-and-see attitude of global central banks rather than a change in trend.On October 12, the National Development and Reform Commission publicly solicited opinions on the "Interim Measures for the Registration and Administration of Public Data Resources (Draft for Public Comments)". The National Bureau of Statistics will strengthen the registration and administration of public data resources, promote the standardization of registration services, and establish and improve the public data resource directory based on registration information and government data directories. Build a national public data resource registration platform, connect with provincial public data resource registration platforms, and promote the interconnection of registration information. Implement "one certificate, one code" for electronic certificates nationwide to support the query and sharing of registration information.On October 12, the heads of relevant departments of the State Financial Supervision and Administration Bureau answered questions from reporters on the "Management Measures for Syndicated Loan Business". The key revisions to the "Measures" include: First, clarifying the regulatory orientation, requiring banks to better support the development of the real economy when conducting syndicated loan business, and effectively prevent and resolve risks. Second, enriching the syndicated organization model, optimizing the distribution ratio and secondary market transfer rules, and improving the convenience of conducting syndicated loan business. Third, standardizing the principles and methods of syndicated charges, and further improving the syndicated pricing mechanism. Fourth, more systematic requirements are put forward for the management of syndicated loans. In addition, this revision changed the "guidelines" to "measures" and added relevant content such as supervision and management.The State Financial Supervision and Administration Bureau issued the Management Measures for Syndicated Loan Business.

BTC Fear & Greed Index Holds as the NASDAQ Composite Index Falls Again

Skylar Shaw

Nov 04, 2022 16:35

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Bitcoin (BTC) increased by 0.29% on Thursday. BTC finished the day at $20,223, somewhat correcting a loss of 1.63% on Wednesday. Notably, BTC avoided sub-$20,000 for the eighth day in a row while snapping a four-day losing run.


BTC increased to a morning high of $20,404 thanks to a positive start to the day. BTC dropped to a midday low of $20,052 after failing to surpass the First Major Resistance Level (R1) at $20,629 throughout the day. However, BTC returned to $20,356 before easing down, avoiding the First Major Support Level (S1) at $19,900.


US economic statistics supported the price of bitcoin.


The ISM Non-Manufacturing PMI decreased from 56.7 to 54.4 in October. Analysts predict a drop to 55.5.


The Index's sub-components were diverse. The non-manufacturing employment index for ISM dropped from 50.0 to 49.1. The Prices Index, however, increased from 68.7 to 70.7.


The unit labor cost data and other statistics, which were crypto-positive, contained unemployed claims. Initial unemployment claims saw a slight dip from 218k to 217k, while unit labor expenses increased by 3.5% in Q3, down from 8.9% in Q2.


Although the statistics supported cryptocurrency, Fed Chair Powell's statement continued to challenge the willingness of buyers. The markets continued to react to Fed Chair Powell's speech on Wednesday, which contributed to the NASDAQ Composite Index's decline of 1.73% on Thursday.


The US employment data released today will significantly affect the NASDAQ Composite Index and the cryptocurrency market.


The association between BTC and the NASDAQ Composite Index remains due to the cryptocurrency's sensitivity to US economic data and the FED. The NASDAQ 100 Mini was up 0.5 points this morning.