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On July 4, JPMorgan Chase published a research report, maintaining its positive view on Standard Chartered Group, pointing out that although Standard Chartered was involved in the lawsuit related to Malaysias 1Malaysia Development Berhad (1MDB), and was accused of allowing more than 100 intra-bank transfers between 2009 and 2013 to help hide stolen funds, the lawsuit may take several years to resolve, and it is estimated that the groups distribution of more than US$8 billion from 2024 to 2026 and the repurchase plan of US$2.75 billion in fiscal 2025 will have limited impact. JPMorgan also pointed out that in the worst case, the fine is as high as US$2.7 billion, equivalent to 37% of the profit forecast of US$5.3 billion in 2027, which is estimated to bring a 72 basis point drag on the banks Tier 1 capital ratio (CET1) in 2027, which is still within the controllable range, and it is believed that the actual penalty amount will be much lower than this. Morgan Stanley continues to list Standard Chartered as its top choice among Hong Kong banking stocks, believing that Standard Chartered is less affected by the decline in HIBOR and the risks of Hong Kong commercial real estate; and is a major beneficiary of the internationalization of the RMB; and has a clearer digital asset development strategy, which allows it to better withstand the impact of stablecoins than its peers. The target price is HK$135 and the rating is "overweight".According to TASS: Russian air defense forces destroyed 48 Ukrainian drones at night.US President Trump: Letters regarding tariffs will be sent out starting this Friday. It is expected that 10 to 12 countries will receive relevant notifications on Friday.US President Trump: Will speak with Ukrainian President Zelensky on Friday. Disappointed with the call with Russian President Putin. Does not think Putin intends to stop the action.According to the Financial Times: British Chancellor of the Exchequer Reeves is expected to deliver a speech at the official residence on July 15 to announce the UK pension reform plan, including a review of the retirement reserves of companies and their employees.

BTC Fear & Greed Index Signals a Bullish BTC Session Despite Headwinds

Skylar Shaw

Feb 28, 2023 15:15

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Bitcoin (BTC) experienced a 0.25% decline on Monday. Bitcoin finished the day at $23,502, partially erasing a 1.65% rise from the previous day. Bitcoin fell shy of the $24,000 mark for the third day in a row following the negative session.


After a turbulent morning, Bitcoin surged to a peak of $23,891 in the middle of the afternoon. Before going backward, Bitcoin passed through the First Significant Resistance Level (R1), which is located at $23,795. Bitcoin fell to a late low of $23,131 following the turnaround. Before finishing the day at $23,502, Bitcoin momentarily breached the First Significant Support Line (S1) at $23,205.

Fed Concern and Regulation Risk Anxiety Drive Bitcoin Away less than $24,000

As investors processed the G20 news and post-G20 remarks that offered investors a preview of what to anticipate, regulatory risk worries resurfaced on Monday. Although the G20 refrained from openly banning it, the discussion of enacting stringent regulation measures breeds doubt.


A Forbes story on Binance moving $1.8 billion of user assets to hedge funds on Monday challenged mood amid intense regulatory and legislator examination. CZ, the Founder of Binance, had not yet commented on the story as of the time of writing.


US economic indexes and the NASDAQ Composite Index briefly eased the afternoon session. In January, core durable goods sales in the US rose by 0.7%, correcting a 0.4% drop in December.


Analysts predict a 0.1% increase. Goods Purchases Non-Defense Ex Aviation, the Fed's favored measure, rose by 0.8%, correcting a 0.3% decline from December.


The most recent statistics, however, backed a more active Fed interest rate track to bring inflation back to the goal range. The NASDAQ composite Index increased by 0.63% on Monday thanks to assistance from decline purchasers. This morning, the NASDAQ mini gained 10.75 points.


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