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On October 25th, local time, Sudans Rapid Support Forces (RSF) announced their control of Bara, a major city in North Kordofan State, central Sudan. The statement stated that the RSF launched a full-scale offensive against the Sudanese Armed Forces (SAF)-held city, inflicting thousands of casualties and injuring hundreds, ultimately securing full control of the city. The statement also stated that retaking Bara is a significant step toward full control of the Kordofan region. The SAF has yet to respond to the statement.Pakistans Defense Minister: We see Afghanistans desire for peace, but failure to reach an agreement will mean open war.On October 25th, local time, the second round of ceasefire talks between Pakistan and Afghanistan began in Istanbul, Turkey. The talks were hosted by Turkey and held at an Istanbul hotel. The Pakistani delegation included the militarys director of operations and security and intelligence officials. The Afghan delegation was led by Deputy Interior Minister Rahmatullah Najeeb.On October 25th, Belgorod Oblast Governor Ilya Gladkov announced that Ukrainian armed forces had damaged the Belgorod Reservoir Dam. He stated that Ukrainian forces might attempt to attack and destroy the dam again. If this were to happen, several streets in riverbanks and settlements near Kharkiv Oblast would be flooded, impacting the lives of approximately 1,000 residents. Gladkov stated that local authorities have advised residents at risk of flooding to move to temporary relocation sites. The Ukrainian side has not yet responded to this request.On October 25th, Bank of France Governor François Villeroy de Villeroy warned lawmakers debating the 2026 budget that the deficit must not exceed 4.8% of economic output to ensure France can cope with its growing debt burden. The French National Assembly is currently debating a draft budget that targets 4.7% GDP growth, but Prime Minister Jean-Claude Le Cornu has said the ultimate target should be within 5%, and he is seeking a compromise with opposition lawmakers. "It is absolutely necessary to keep the deficit below 3% between now and 2029, which would imply a maximum deficit of 4.8% next year," Villeroy de Villeroy said in an interview with La Croix. He also stated that France faces the risk of "progressive suffocation" from debt and that additional deficit spending will fail to stimulate economic growth. According to calculations by the Bank of France, if debt uncertainty is reduced, a 1% reduction in the household savings rate would boost economic growth by 0.4%. However, Villeroy de Villeroy stated that the French economy has strong momentum this year and growth will be "at least" as strong as the Banks forecast of 0.7%.

Crypto Market Daily Highlights - ETH Extends Winning Streak to Eight

Daniel Rogers

Jan 16, 2023 10:52

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The top ten cryptocurrencies had a mixed Sunday session, with ETH bucking the trend while the larger market ended a seven-day losing streak. Profit-taking and regulatory risk contributed to a turbulent Sunday session. The crypto market cap declined by $0.881 billion to close the day at $938.70 billion. It was a mixed afternoon for the crypto top 10 on Sunday. ETH bucked the top ten trend. Notably, BTC revisited $21,000 for the second time since November 7 and the bankruptcy of FTX.

 

On Sunday, neither external market forces nor crypto market catalysts contributed to the eight-session winning streak. With the US markets closed today, profit-taking left the larger crypto market with a small loss.

 

Trading Derivatives includes a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suited for all investors, so please ensure that you fully appreciate the risks involved, and get independent advice if necessary. A Product Disclosure Statement (PDS) can be received either via our website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads as low as 0 pips and a commission rate of $3.50 per 100,000 USD traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

Regulatory risk almost certainly contributed to the decline. On Thursday, US politicians were back in the spotlight. Reportedly, House Republicans intend to form a Subcommittee to oversee the digital asset market.

 

The disclosure coincides with the SEC bringing accusations against Genesis and Gemini for the unregistered offer and sale of crypto asset securities through the Gemini Earn lending program.

 

There are currently no US economic indicators for investors to evaluate. The lack of statistics will leave the crypto market to the discretion of crypto news outlets and FOMC member talk. Regulatory noise and hawkish FOMC member rhetoric may test current buyer appetite.

 

This week, US business earnings, economic indicators, and FOMC member talk will likely affect investor sentiment, as measured by the NASDAQ Index. Bets on a 25-basis-point Fed rate hike and a decline in FTX contagion risk continue to support the crypto market.


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