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August 26th - US inflation unexpectedly remained unchanged in July, marking the 65th consecutive month significantly above the Federal Reserves 2% target. The recent decline in inflation after reaching high levels, influenced by the Iran war, has stalled, potentially exacerbating tensions within the Federal Reserve regarding whether to raise or maintain interest rates. Data released Wednesday by the US Bureau of Economic Analysis showed that the Feds preferred indicator, the US PCE price index, rose 3.7% year-on-year in July, unchanged from June, compared to analysts expectations of 3.6%. With trade negotiations between the US and its second-largest trading partner, Canada, breaking down on Friday, a new round of tariff-driven inflationary pressures may be imminent. On a month-on-month basis, the PCE price index rose 0.2% in July, also exceeding economists expectations. In June, the index fell 0.1% month-on-month, the lowest level since April 2020. The Bureau of Economic Analysis also updated its second-quarter economic growth data, maintaining the annualized growth rate of US real GDP at 1.5%.August 26th - Market pricing indicates a slight increase in expectations for a Federal Reserve rate hike next month. This follows data released by the US government showing that the Feds key inflation gauge rose 3.7% year-on-year in July, slightly higher than economists expectations. Interest rate futures data shows that after the data release, the market expects a 42% probability of a Fed rate hike in September, up from approximately 36% before the data release.On August 26th, Alibabas Qianwen released the Qwen3.8-Flash model. This is a multimodal MoE model and an early preview version of the Qwen4 architecture. The production version of Qwen3.8-Flash will soon be available through the Qwen Cloud API, priced at only $0.16 per 1 million input tokens and $0.47 per 1 million output tokens. The model boasts 125 billion parameters + 51 billion N-gram embedding parameters, but each token only activates 6 billion parameters, achieving extremely high cost-effectiveness.Ukrainian President Zelensky: Ukraine will send two additional troops to reinforce the Donetsk front.U.S. short-term interest rate futures pared earlier gains slightly after the release of U.S. economic data.

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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