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The Reserve Bank of Australia will release the minutes of its February monetary policy meeting in ten minutes.February 17th - According to foreign media reports, former Bank of Japan (BOJ) policy board member Seiji Adachi stated that the BOJ is likely to use the abundant new data available in April as an opportunity to raise interest rates, ignoring market speculation about a possible rate hike in March. Adachi said in an interview on Monday, "A March rate hike would be risky because it would be based on expectations rather than confirmation signals. April will provide a large amount of data to confirm improvements in underlying inflation." Adachis view aligns with the growing market expectation that the board, led by Governor Kazuo Ueda, might act in the spring—earlier than most economists predicted after the last rate hike in December. He stated that while there are concerns that Prime Minister Sanae Takaichi might hinder the BOJs policy normalization process, especially after her landslide victory in the election last week, she is unlikely to prevent rate hikes, as such action could be counterproductive. Adachi said, "Sanae Takaichi seems to have become very sensitive to market dynamics. If she tells the BOJ not to raise rates, the potential market reaction would be a depreciation of the yen."A Reuters poll of 29 economists showed that 27 of them believed the Indonesian central bank would keep its 7-day reverse repo rate unchanged at 4.75% on February 19.US President Trump: I will indirectly participate in the Iran negotiations; Iran wants to reach an agreement.February 17th - According to tech journalist Marc Gurman, Apples upcoming iPhone 18 Pro and Pro Max models will "not have major updates." Gurman stated that the iPhone 18 Pro series will only be "minor tweaks to last years iPhone 17 Pro and Pro Max." He likened this upgrade to Apples usual practice of adding an "S" to the name of minor iPhone facelifts. However, the new phones will still include several important internal upgrades, such as a new camera system with a variable aperture, the A20 chip, and a custom C2 baseband chip. Nevertheless, the new Pro models are unlikely to be "the star of Apples iPhone launch event this fall." Instead, Apples first foldable iPhone will be the focus.

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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