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June 22 – At a press conference held today by the Legislative Affairs Commission of the Standing Committee of the National Peoples Congress (NPC), it was announced that the 68th meeting of the Standing Committee of the 14th NPC has decided that the 23rd session of the Standing Committee of the 14th NPC will be held in Beijing from June 23 to 26. The meeting recommended that the 23rd session of the Standing Committee of the 14th NPC: continue to deliberate on the draft revisions to the Trademark Law, the Certified Public Accountants Law, the Public Interest Litigation Law for Procuratorates, the Antarctic Activities and Environmental Protection Law, and the National Fire and Rescue Personnel Law; deliberate on the motion submitted by the NPC Financial and Economic Affairs Committee to review the draft revision of the Government Procurement Law; and deliberate on the motions submitted by the State Council to review the draft revisions to the Bidding and Tendering Law, the Financial Law, and the Law of the Peoples Bank of China.June 22 – The Ministry of Health of the Democratic Republic of Congo (DRC) announced on June 21 that the total number of confirmed Ebola cases in the country has risen to 1,003, with 254 deaths. The latest data released by the DRC Ministry of Health on social media platforms shows that 100 people have recovered, and 365 patients are currently in isolation or hospitalized. The countrys current contact tracing rate is 58%, lower than the health departments target of 95%. Relevant departments are intensifying contact tracing and investigation efforts, strengthening community outreach and mobilization, and improving case treatment and testing capabilities.The SC crude oil futures contract fell by 2.00% during the day, currently trading at 503.40 yuan per barrel.1. Market plunges: Precious metals traded weakly in the morning, with Shanghai silver falling over 5%, Shanghai gold over 3%, and platinum and palladium over 4%, indicating a concentrated sell-off by long positions accumulated at previous highs. 2. Fed shows hawkish stance: The Feds June decision kept interest rates unchanged, but new Chairman Warsh removed forward guidance indicating a tendency to cut rates in his debut meeting. Furthermore, the dot plot showed that half of the officials expect at least one rate hike this year, leading to an earlier-than-expected rate hike and a stronger dollar and US Treasury yields. 3. Geopolitical negotiations take a dramatic turn: After the US and Iran signed a memorandum of understanding, the first round of formal negotiations suddenly changed. Due to Israels continued attacks on Lebanon and threatening remarks from Trump, the Iranian delegation walked out of the meeting and announced the closure of the Strait of Hormuz, causing risk aversion and liquidity concerns to severely impact the market. 4. Fund Holdings Trends: Investment demand showed mixed performance. Holdings in the worlds largest gold ETF (SPDR) increased slightly to 1020.5 tons weekly, while holdings in the worlds largest silver ETF (iShares) decreased by 22.51 tons weekly, indicating a roughly equal increase and decrease in speculative funds. 5. Everbright Futures View: Current gold prices have largely priced in hawkish expectations, and marginal negative momentum is weakening. With falling oil prices, if inflation expectations remain stagnant, it may drive a short-term market correction due to easing concerns about tightening, allowing gold to maintain its bottom-range consolidation. 6. Nanhua Futures View: With geopolitical uncertainties in the Middle East, strong AI stocks, and rising expectations of interest rate hikes, precious metals are in a short-term weak position. However, in the medium to long term, the Peoples Bank of my country maintains its strategy of buying gold on dips, and the medium-term support logic for central bank gold purchases has not weakened significantly. 7. Shanghai Zhongqi Futures View: The pullback in gold prices is a result of the Federal Reserves policy shift towards hawkishness, changes in communication style, and a convergence of macroeconomic data. With interest rate hike expectations fully priced into the market, short-term adjustment pressures are expected. However, easing tensions in the Middle East are conducive to stabilizing inflation expectations, and precious metals will continue to exhibit two-way volatility. (The above content is compiled from publicly available market data from Everbright Futures, Nanhua Futures, Shanghai Zhongqi Futures, etc., and is for reference only, not investment advice.)June 22nd - XPeng Motors announced on June 22nd that the first SUV in the XPeng MONA series will be officially named L03. In the MONA series, M represents sedan and L represents SUV.

DOGE Eyes a Return to $0.0850 to Aim for $0.090 as FTX Contagion Declines

Daniel Rogers

Nov 23, 2022 15:37

截屏2022-11-23 下午2.24.11.png 

 

On Tuesday, both Dogecoin (DOGE) and shiba inu coin (SHIB) snapped two-day losing streaks. FTX contagion risk diminished as word of FTX cash holdings and investor interest in FTX assets spread. However, technical indications remain gloomy, with exponential moving averages (EMAs) predicting additional declines.

 

On Tuesday, dogecoin (DOGE) gained 5.23 percent. Reversing Monday's loss of 2.99%, DOGE ended the day at $0.0785. Notably, DOGE closed the day below $0.0800 for the third session in a row.

 

The mid-morning low for DOGE was $0.0729. Avoiding the First Major Support Level (S1) at $0.0715, DOGE climbed to a high of $0.0796 in the early afternoon. At $0.0774, DOGE surpassed the First Major Resistance Level (R1) before retreating. However, a late surge caused DOGE to surpass R1 and close the day at $0.0785.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. 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.

 

On Tuesday, the price of Shiba inu coin (SHIB) increased by 4.76 percent. SHIB closed the day at $0.000000881, reversing Monday's decline of 4.21%.

 

In line with the larger market, SHIB reached a low of $0.00000817 during midmorning. Finding support at the First Major Support Level (S1) at $0.00000816, SHIB surged to a high of $0.00000883 by early afternoon. At $0.00000873, SHIB surpassed the First Major Resistance Level (R1) and closed the day at $0.00000881.

 

FTX contagion risk diminished on Tuesday, providing assistance to DOGE, SHIB, and the broader market. Updates on FTX's assets revealed a substantial cash position, which would mitigate the impact of the company's bankruptcy on its creditors.

 

Reports that Justin Sun of Tron and Brad Garlinghouse of Ripple are interested in FTX assets generated additional support.

 

Nonetheless, Twitter news remained unfavorable for DOGE. There was no new information on Twitter's resumption of the crypto integration project that would promote DOGE adoption.

 

However, investor sentiment increased significantly this morning. Risk of FTX contagion remains the primary motivator. Until the court reveals who FTX's creditors are, downside risks will persist. On Tuesday, the bankruptcy judge ruling over FTX decided to redact the identities of FTX's creditors.

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