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Futures News on October 14, USDAs October report maintained the expectation of a bumper soybean harvest, lowered the production of new rapeseed by 130,000 tons month-on-month, and decreased by 1.9 million tons year-on-year. Affected by the USDAs substantial reduction in global sunflower seed production, the oil and fat operation center has been improved. The 01 contract is currently focusing on whether the increase in palm oil production in October is normal. Coupled with concerns about the weakening of exports in October, it is easy to form a seasonal decline, but high-frequency data show that Malaysian palm oil production decreased in October and exports increased. Concerns about supply in the production area continue, and oil and fat are temporarily strong. After November, the 01 contract will enter the palm oil destocking season again. Considering the year-on-year reduction in Indonesias production and the increase in biodiesel brought by the new season B40, it may be difficult for oil and fat to have a significant decline, and it is expected to fluctuate strongly.Futures news on October 14, this week, on the supply side, ethylene glycol companies are undergoing maintenance and restarting, and the import supply may decrease, and the overall supply is lower than previous expectations; on the demand side, the downstream polyester demand is in the peak season, and the expectation of steady improvement is maintained; the cost support is strong, and the continued low level of port inventory is beneficial. It is expected that the ethylene glycol market will be dominated by strong fluctuations this week, and the spot self-pickup price in East China will operate in the range of 4,800-4,900 yuan/ton. Pay attention to the changes in international crude oil and port inventories this week.Futures news on October 14th, according to data released by shipping research agency SGS, Malaysias palm oil exports are expected to reach 440,217 tons from October 1 to 10, an increase of 60.2% from 274,853 tons exported in the same period last month.Singapores GDP grew 2.1% in the third quarter, in line with expectations of 1.8% and the previous reading of 0.4%.The main Japanese rubber contract expanded its intraday gain to 2.00% and is now trading at 396.00 yen/kg.

BTC Fear & Greed Index Slips to 22 Despite a BTC Run at $20,000

Skylar Shaw

Oct 24, 2022 15:19

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For Bitcoin, Sunday was a positive day. The Fear & Greed Index was not, however, moved into the Fear zone by lowering expectations on a hawkish Fed action in December.


Bitcoin (BTC) increased by 1.90% on Sunday. BTC increased 0.29% on Saturday before rising 1.65% for the week to $19,585. Notably, BTC avoided sub-$19,000 for a second session and fell short of $20,000 for the seventeenth session in a row.


After a negative morning, BTC dropped to a low of $19,086 around midday. Before regaining momentum and reaching a late high of $19,707, BTC breached the First Major Support Level (S1) at $19,136. BTC overcame the major resistance levels for the day to end the week at $19,585. Late support was provided by the Third Major Resistance Level (R3) at $19,515.


Demand for riskier assets was sustained by investors' response to Friday's less aggressive Fed comments. The likelihood of rate increases in November and December was 87.5% and 48.7%, respectively, according to the FedWatch Tool this morning. The probability of a 75-basis point increase in December was 69.8% a week ago.


Interest will be generated by the preliminary October private sector PMIs for the US. Bets on a 75-basis point Fed rate rise in December might be revived by an uptick in service sector activity and employment throughout the private sector.


The NASDAQ 100 Mini was up 112 points this morning, reflecting a positive start to the week.

Fear and Greed Index Drops to 22/100 Although BTC had a bullish session

The Fear & Greed Index decreased from 23 to 22 today. Despite the robust Sunday session for Bitcoin and the larger crypto market, the decline further into the Extreme Fear zone nevertheless occurred.


Although odds of a 75 basis point Fed rate increase in December have decreased, the Ukraine crisis and the Fed's monetary policy continue to produce economic uncertainty. Today's investors will also be put to the test by US economic figures.


However, crypto-friendly statistics ought to encourage a return of the Index to the Fear region.


The Index will need to keep avoiding sub-20/100 for the bulls to justify a change in mood. However, a decline to below 20/100 would indicate a BTC decline to below $18,000.


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