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Futures News on February 24: Last Friday, the international commodity market generally fell, and the performance of crude oil can be described as diving, with a drop of more than 3%. 1. Obviously, even though crude oil has risen for several days before, it is still not a variety suitable for strong thinking. The latest data shows that the number of oil drilling rigs in the United States has increased by 7, indicating that Trump will implement his previous promise to reduce energy prices by increasing production, thereby easing inflation. At the same time, senior officials from the United States and Russia have recently had a series of positive contacts. In addition to the war issue, the repair of bilateral relations between the two countries is also discussed as a core issue. This will obviously make the market believe that the relationship between the two countries will warm up, and Russias previous crude oil export sanctions will be gradually lifted. Once the support from the supply side fades, oil prices will easily fall. After all, in the context of the transformation of the global energy industry, the market and major institutions are not very optimistic about the demand prospects for crude oil. The recent rumor that OPEC+ will postpone the production increase plan again is actually a good confirmation. 2. Then, for the 04 contract of WTI crude oil, we need to focus on whether $70 can be held. For the 04 contract of Brent crude oil, $74 is a very important price barrier. Once it cannot be held and is broken downward, it is a pattern signal in technical analysis that the decline may continue.On February 24, the article stated that innovation is endless and policy support also needs to be continuously optimized. There is still room for improvement in the intensity and efficiency of fiscal and taxation forces to support scientific and technological innovation. In terms of intensity, we will coordinate financial resources, increase investment in science and technology, further focus on basic research and national strategic scientific and technological tasks, and fully support the key core technology research. In terms of efficiency, we will deepen the reform of the mechanism for the allocation and use of fiscal science and technology funds, improve the performance of fund use, and give full play to the leverage effect of fiscal funds. Research and improve the structural tax reduction and fee reduction policies that focus on supporting scientific and technological innovation and the development of the manufacturing industry, study the tax system that is compatible with the new business format, promote policies that are more in line with the demands of the market and enterprises, improve the accuracy of policies, promote the direct and quick enjoyment of policy dividends, and help enterprises innovate and develop.According to German news today: Lindner, chairman of the German Free Democratic Party, announced his withdrawal from politics.Ukrainian President Volodymyr Zelensky congratulated the CDU/CSU and Merz on their victory in the German Bundestag election.On February 24, the leaders of the 27 EU countries will hold an emergency summit on March 6 to discuss the Ukraine issue and the next steps regarding European security. European Council President Costa announced on Sunday that he would hold the summit in Brussels. Costa posted on social media: "We are at a decisive moment for Ukraine and European security." European Commission President von der Leyen and other members of the EU executive will visit Kiev on Monday to express support for Ukraine on the third anniversary of the outbreak of the Russian-Ukrainian conflict.

Crypto Market Daily Highlights: ETH Avoids an SEC and Fed-Fueled Slide

Florala Chen

Feb 24, 2023 15:07


The top ten cryptocurrency index had a split morning on Thursday. While MATIC led the road down, ETH defied the negative pattern. Bitcoin is now trading below $24,000 for the first time in seven days following the lackluster session.


The NASDAQ Composite Index and US economic indexes supported the afternoon's trading. The US GDP grew by 2.7% in Q4 as opposed to the preliminary 3.2%. Economic experts expect growth to be 2.9%. Initial unemployment claims decreased from 195k to 192k, but labor market circumstances tightened nonetheless. Analysts predict a 200k rise.


The results and company profits caused the NASDAQ Composite Index to increase by 0.72%.

The NASDAQ, however, fell short of producing a positive crypto session as growing regulatory surveillance dampened investor interest.

Evidence for Crypto-Scrutiny Buying Attitude

The US Federal Reserve published a statement on Thursday outlining the dangers of trading in cryptocurrencies and commodities connected to cryptocurrencies. "Certain sources of funding from crypto-asset-related entities may pose heightened liquidity risks to banking organizations due to the unpredictability of the scale and timing of deposit inflows and outflows," the Fed said in a statement highlighting liquidity risks associated with funding sources from entities related to cryptocurrencies.


The security of such accounts (stablecoin-related reserves) may be correlated with stablecoin demand, stablecoin users' trust in the stablecoin structure, and the stablecoin issuer's reserve management procedures, according to the Fed, which joined the SEC in focusing on stablecoins. Such accounts are vulnerable to significant and swift withdrawals caused by, for instance, unexpected stablecoin redemptions or fluctuations in the marketplaces for digital assets.


The IMF also provided its perspective on the digital asset market as the US Department of Justice, the SEC, and the CFTC increased their crypto monitoring operations. A document named Components of Successful Strategies for Digital Securities was published on Thursday by the IMF.


The IMF intends to "handle concerns by Fund members on how to react to the growth of digital assets and the related dangers," according to the document.


News of the SEC and the New York Department of Financial Services (NYDFS) complaining to Binance came as the cryptocurrency market came under greater examination.


The US buying Situation was also unfavorable. Binance. The US's intentions to purchase Voyager helped reduce the danger of a pandemic at the end of 2022.