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Japans Liberal Democratic Party President Sanae Takaichi: She has sought support from the leader of the Innovation Party for the prime minister election and coalition government.On October 15, Avita Technology and JD Retail signed a cooperation agreement on October 14. The two parties will carry out comprehensive cooperation in the fields of omni-channel automotive marketing, after-sales service, procurement supply chain and overseas business.On October 15th, Mitsubishi UFJ analyst Derek Halpenny wrote in a report that the market is currently underestimating the likelihood of another Bank of England rate cut before December, which could put downward pressure on the pound. He noted that if upcoming economic data show continued slowing inflation and no rebound in wage growth, the case for easing monetary policy will be further strengthened. Furthermore, the UKs Autumn Budget, to be announced on November 26th, is likely to confirm the drag of fiscal austerity on the economy. According to LSEG data, the market is currently pricing in only approximately 12 basis points of rate cuts by December.Indias exports to the United States were $5.43 billion in September, down from $6.87 billion in August, according to Reuters calculations.On October 15th, Sifang Optoelectronics announced that it had recently received a contract from a renowned international automotive OEM to supply automotive-grade PM2.5 sensors. According to the clients forecast, deliveries of this contract are expected to begin in 2027, with a lifecycle of seven years. The total contract value is estimated to be RMB 59 million (excluding tax). This project award is a recognition of the companys R&D technology, product quality, and supply chain capabilities. It will help increase the companys PM2.5 sensor market share, promote its technological innovation, and develop its in-car air quality improvement device business. The project is expected to have a positive impact on the companys core operating revenue and profitability in the coming years, aligning with the overall interests of the company and its shareholders.

Crypto Market Daily Highlights – DOGE Hits Reverse in a Mixed Session

Cory Russell

Nov 04, 2022 16:33

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The top 10 cryptocurrency exchanges had a choppy Thursday session. Dogecoin (DOGE), BNB, and XRP all found support as the price fell. BTC broke a four-day losing trend and continued to stay over $20,000.


US economic figures were below forecasts, supporting the cryptocurrency market.


The ISM Non-Manufacturing PMI decreased from 56.7 to 54.4 in October. Analysts predict a drop to 55.5. The Index's sub-components were diverse. The non-manufacturing employment index for ISM dropped from 50.0 to 49.1. The Prices Index, however, increased from 68.7 to 70.7.


The unit labor cost data and other statistics, which were crypto-positive, contained unemployed claims. Initial unemployment claims decreased from 218k to 217k, while unit labor expenses increased by 3.5% in Q3, down from 8.9% in Q2.


The statistics supported the cryptocurrency market, while the NASDAQ Composite Index dropped by 1.73% as traders responded to Fed Chair Powell's comments.


The focus of today's late-day crypto market test will be the US employment data. Better-than-anticipated results would test consumer interest. The NASDAQ 100 Mini was down 12.75 points this morning.

Despite Weak US Economic Indicators, the Crypto Market Finds Support

The crypto market saw a bumpy day on Thursday, plunging to an early low of $944.0 billion and then recovering to a late-morning high of $974.4 billion. The market valuation for cryptocurrencies fell to $952.3 billion in the late morning, but before investors reacted to the ISM Non-Manufacturing PMI, the market cap rose to $966.1 billion before relaxing again.


The cryptocurrency market increased by $4.6 billion to close the day at $956.2 billion despite the late decline.

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