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A Reuters poll showed the South African Reserve Bank will cut interest rates by 25 basis points to 7.50% on January 30 and cut them by another 25 basis points in March.ANZ Bank: Global natural gas prices are expected to face continued upward pressure this year.ANZ Bank expects global natural gas prices to continue to face upward pressure this year.On January 23, according to a notice on Teslas (TSLA.O) Canadian website, Tesla will increase the prices of all its cars in Canada from February 1, including Model 3, which will increase by up to 9,000 Canadian dollars. The price of the Model Y will increase by up to 4,000 Canadian dollars, while all Model S and X models will increase by 4,000 Canadian dollars. Tesla did not explain the reason for the price increase. Tesla does not produce cars in Canada, but imports them from other factories. Teslas unexpected price increase came as Canadian Prime Minister Trudeau reiterated on Tuesday that the Canadian government is ready to respond if U.S. President Trump imposes a 25% tariff on imports from Canada and Mexico starting February 1.Futures January 23, Economies.com analysts latest view today: Brent crude oil futures prices continued to show a new decline today after a brief rebound yesterday, approaching our expected target price of 78.39. This price is calculated based on the 38.2% Fibonacci retracement level of the rising band from 71.23 to 82.82. It is worth noting that if this price is effectively broken, the bearish band may extend further to the next target of 77.05. In order to continue the current bearish trend, the price needs to remain below 80.10. If the price can break through this resistance level, it may end the current bearish trend and re-enter the main bullish trend. The expected trading range of Brent crude oil today is set between 77.10 support and 80.10 resistance. Overall trend outlook: bearish.

Bitcoin Maintains a Positive Short-term Outlook

Cory Russell

Feb 24, 2023 15:02

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Industry Snapshot

On Wednesday, Bitcoin ended below $24K for the first price in eight days. But on Thursday morning, investors took control once more, driving the currency up to $24.4K. In response to declining market benchmarks, Bitcoin experienced pressure on Tuesday and Wednesday. The slide came to a halt last night, which enabled the cryptocurrency market to recoup some of its loses and return to $1.11 trillion in total capitalization.


The monthly link between bitcoin and the S&P 500 has, interestingly, dropped to its lowest point since 2021, according to Bloomberg. And it was clear how long cryptocurrencies had disregarded the fall in equity prices.


Our opinion is that these markets continue to be linked and that they only "hear" each other's whispers when they become clear and persistent. Less obvious patterns are viewed as noise that has been sorted out.


The most recent downward momentum was halted at 61.8% of the upward momentum from last week's lows, suggesting that there is still space for further gains in the short-term momentum of bitcoin. Without the stock benchmarks' significant downward trend, bitcoin still has a chance to challenge the 25,000 level before the week is over. It might get there if it makes such persistent efforts to ascend higher.

Historical Events

The Department of Financial Services (NYDFS), New York's financial supervisor, has declared an upgrade to its tools for keeping an eye on illicit coin activity among its controlled companies, and as a result, it is ramping up its supervision of the crypto market.


On February 28, the Shanghai-Capella (Shapella) upgrade will be released to the Sepolia test network by the Ethereum team. This upgrade will be released after The Merge and will permit validators to take money out of blocks. The hardfork will first be tried on the Goerli network after Sepolia and then deployed on Mainnet (possibly in March).


A collaboration between the Binance exchange and credit card provider Ingenico will enable stores in France to begin taking cryptocurrency purchases. Later, the initiative will be expanded to include Italy, Lithuania, Spain, Cyprus, Poland, and Sweden, as well as other European nations where Binance holds operating licenses.


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