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July 7th - The Hong Kong Gold Central Clearing and Settlement System officially commenced trial operations. It is understood that the Hong Kong Financial Services and the Shanghai Gold Exchange launched the first phase of "physical connectivity" today, based on the cooperation agreement signed in January this year. HKG Clearing has applied to become an international member of the Shanghai Gold Exchange and opened a physical gold account. Market participants can choose to deposit their physical gold holdings into designated warehouses in Hong Kong on the Shanghai Gold Exchanges international board through this account. Through two-way transfers, market participants can participate in both the Shanghai Gold Exchanges on-exchange market and the Hong Kong over-the-counter market, facilitating the flow of physical gold between the HKG Clearing system and the Shanghai Gold Exchange system, effectively connecting the gold markets of Hong Kong and Shanghai.On July 7th, AMP Chief Economist Shane Oliver listed a list of risks facing the market over the next year, with one key risk focusing on the White House. He stated that after the upcoming midterm elections, US President Trump will be less constrained and may use this window of opportunity before the 2028 election to escalate overseas military operations, including renewed actions against Iran, and potentially involving Greenland and Cuba. Oliver added that this risk is particularly concerning if Trump loses control of both houses of Congress in November.Futures News, July 7th: OPEC+ decided to continue increasing production over the weekend, marking the first such decision in six months. Although the increase has been slowed in the short term due to the Straits dispute, Saudi Arabias willingness to increase production remains strong, leading to a predominantly bearish market sentiment and a continued weak oil price trend. Zhuochuang Information predicts that continued attention will be paid to the actual implementation of Saudi Arabias production increase. With the Straits issue gradually resolved and tanker transport efficiency improving, oil prices will face upward pressure, maintaining an overall bearish outlook.July 7th – The 2026 World Artificial Intelligence Conference and High-Level Meeting on Global Governance of Artificial Intelligence will be held in Shanghai from July 17th to 20th. Sun Xiaobo, Coordinator for Artificial Intelligence Affairs at the Ministry of Foreign Affairs, stated at a press conference in Shanghai on July 7th that this year, dozens of countries and international organizations will be invited to send high-level representatives to the conference to exchange in-depth views on cutting-edge and key issues concerning the development and governance of artificial intelligence during the High-Level Meeting on Global Governance of Artificial Intelligence. The Ministry of Foreign Affairs will also arrange a collective exhibition for delegations from various countries and international organizations, allowing them to experience firsthand Chinas achievements in the development and governance of artificial intelligence and to directly feel the vitality and dynamism of Shanghai as an international metropolis.Pan Gongsheng, Governor of the Peoples Bank of China: We will support more high-quality companies to list and issue bonds in Hong Kong, and the annual net investment quota for the Bond Connect "Southbound" program will be increased to 800 billion yuan.

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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