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According to The Information, OpenAI founder Altman stated that OpenAI plans to postpone other initiatives, such as its advertising business.On December 2nd, Intel announced an additional investment of RM860 million (US$208 million) to make Malaysia its assembly and testing operations hub, a move Malaysian Prime Minister Anwar Ibrahim stated would boost the Southeast Asian nations key role in the global semiconductor supply chain. He added that Intels decision was based on confidence in Malaysias long-term plans. Anwar stated that Intel already has operations in Malaysia, including a RM12 billion advanced packaging plant in Penang, which is 99% complete. In 2021, the US company pledged a US$7 billion investment to establish a manufacturing base in Penang. Malaysia accounts for approximately 13% of the global chip packaging, assembly, and testing (the final step in semiconductor manufacturing) market, an industry that drives 40% of Malaysias export output. As major governments race to strengthen their semiconductor capabilities, Malaysia has been striving to elevate its position in the global supply chain.Futures News, December 2nd: As of December 1st, the mainstream benzene market price in East China closed at 5320 yuan/ton, down 110 yuan/ton from 5430 yuan/ton at the beginning of November. From a fundamental perspective, December arrivals in East China are concentrated, and major ports in East China will enter a period of continuous inventory accumulation. In addition, with the weather turning colder, insufficient end-user orders and low downstream operating enthusiasm continue to put pressure on price recovery across the industry chain. However, on the cost side, geopolitical tensions threaten market supply, and European and American crude oil futures rose 1.3%. Under the interplay of bullish and bearish factors, the benzene market is expected to trade within a range.On December 2nd, futures market news reported that crude oil prices traded higher yesterday, primarily driven by the return of two major geopolitical risk premiums. Firstly, the slow progress of peace talks between Russia and Ukraine, coupled with Ukraines attacks on European oil ports and pipelines; secondly, the USs air traffic control over a South American country over the weekend, leading to the breakdown of peace talks and heightened tensions in South America. Zhuochuang Information predicts that the return of geopolitical risks has led to an increase in oil prices. However, whether this upward trend can continue depends on close monitoring of developments. If the conflict escalates, oil prices will continue to rise; otherwise, if the situation remains manageable, oil prices will likely experience wider fluctuations. In the short term, the geopolitical risk premium remains high, and oil prices are expected to remain relatively strong.Fitch: Penalties imposed on South Korean banks highlight non-financial risks.

Despite Bearish BTC Session, BTC Fear & Greed Index Avoids Sub-30

Daniel Rogers

Nov 08, 2022 16:18

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Bitcoin (BTC) declined by 1.54% on Monday to end the day below $21,000 for the second consecutive session. BTC and the broader market dissociated from the NASDAQ Composite Index, as crypto investors await the US CPI report this week. The Bitcoin Fear & Greed Index decreased from 33/100 to 31/100 as the bearish BTC session weighed on the index.

 

Bitcoin (BTC) decreased by 1.54% on Monday. Sunday's closing BTC price was $20,609, following a 1.79% fall. Notably, Bitcoin closed the day for the second consecutive session below $21,000.

 

BTC reached a day's early high of $21,083 despite a shaky start. BTC reached a late-day low of $20,421 after failing to surpass the First Major Resistance Level (R1) at $21,240. Before partially recovering to $20,609, BTC fell through the First Major Support Level (S1) at $20,762 and the Second Major Support Level (S2) at $20,592.

 

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 beginning at 0 pips and commissions of $3.50 every 100k 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.

 

A lackluster economic calendar in the United States hindered BTC. This week, US inflation, retail sales, and consumer sentiment data will impact market sentiment towards the US economy and a December Fed turn.

 

However, the NASDAQ Composite Index increased by 0.85% on Monday, as optimism surrounding the US midterm elections provided support. Later today, the US economic calendar will feature another day of inactivity, leaving investors in suspense as the attention remains on the midterm elections. The NASDAQ mini was up 15.5 points this morning.

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