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On January 27th, European Central Bank (ECB) Governing Council member Kocher stated that given the unstable global situation, particularly regarding trade, the ECB needs to retain all feasible options regarding interest rates. While officials believe they are currently in a "good position," they still face "very high" uncertainty. He emphasized the importance of having sufficient options in both directions. Monetary policy must be able to respond quickly and decisively to any emerging risks. Kocher expressed a desire to be able to react swiftly to any unforeseen circumstances. "We saw this last week when there was an additional threat of tariffs. So we must be cautious. This could have some consequences and could also impact European economic development."SMIC: The company will disclose its fourth quarter 2025 results after the trading session on February 10, 2026.EU High Representative for Foreign Affairs and Security Policy Karas: I have asked my Indian counterparts to engage in dialogue with Russia and to pressure Russia on the peace process in Ukraine.January 27th - Nick Timiraos, the "Federal Reserve mouthpiece," reports that Federal Reserve officials are expected to keep interest rates unchanged this week for the first time since three consecutive rate cuts in September. The question is, what would prompt the Fed to cut rates again? The answer depends on which risk materializes first: a collapse in the labor market, or a significant drop in inflation towards the 2% target. Neither has occurred since the last meeting in December. As a result, the committee remains on the sidelines despite significant political pressure from the White House. Most officials still believe a rate cut is possible later this year, but there is disagreement on when data will support it.January 27th - With only six months remaining until July 1st, 2026, the implementation of Article 75 of the National Medical Products Administrations "Special Provisions on the Registration Management of Traditional Chinese Medicines" is entering its final window. This provision, known in the industry as the "life-or-death clause" for traditional Chinese medicines, clearly states that after three years from July 1st, 2023, any traditional Chinese medicine whose instructions still indicate "not yet clear" will not be approved for re-registration. This means that over 70% of the approximately 57,000 valid approval numbers for traditional Chinese medicines currently in use in China, due to safety information labeling issues, will face elimination. A regulatory-driven, in-depth cleanup of the traditional Chinese medicine industry has officially entered its crucial stage. The core of this new regulatory policy is to completely end the long-standing era of "not yet clear" instructions for traditional Chinese medicines, forcing drug holders to address the shortcomings in post-market safety data.

ETH Aims for $1,700 as Investors Return Following a Sunday Break

Daniel Rogers

Nov 01, 2022 17:52

 截屏2022-11-01 下午5.00.13.png

 

Bitcoin (BTC) and ethereum (ETH) saw losses on Sunday, but concluded the week with gains of 5.42 percent and 16.63 percent, respectively. Despite the fact that expectations of a December Fed pivot provided support throughout the week, the pair experienced profit-taking on Sunday. Nevertheless, the technical indications remain optimistic, indicating additional increases in the coming week.

 

Bitcoin (BTC) declined by 0.89% on Sunday. BTC finished the week up 5.42% at $20,647, partially offsetting Saturday's 1.08% gain. Notably, Bitcoin closed the day at $20,000 for the sixth consecutive session, averting a drop below $20,000 for the fifth consecutive day.

 

After a volatile start to the day, BTC reached a high of $20,950 by mid-morning. BTC reached a late-day low of $20,532 after failing to surpass the First Major Resistance Level (R1) at $21,092. BTC momentarily breached the First Major Support Level (S1) at $20,576 before recovering partially to $20,647.

 

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 Sunday, Ethereum (ETH) declined 1.79 percent. ETH closed the week up 16.63% to $1,591, partially reversing a 4.18% gain from Saturday.

 

ETH reached a mid-morning high of $1,640 after a positive start to the day. ETH dropped to a late-afternoon low of $1,576 after failing to surpass the First Major Resistance Level (R1) at $1,673. ETH completed the day at $1,591, avoiding the First Significant Support Level (S1) at $1,557.

 

It was a calm conclusion to a bullish week, allowing investors to lock in profits prior to a significant week on the global financial markets. On Wednesday, the Federal Reserve will announce its interest rate decision. While the markets are relying for a 75-basis-point rate hike, the crypto bulls continue to be challenged by the Fed's December plans.

 

Due to the crypto market's sensitivity to US economic statistics and the Federal Reserve, the correlation between BTC and ETH and the NASDAQ Composite Index remains intact.

 

The FedWatch Tool placed the likelihood of November and December rate rises at 86.7% and 45.5%, respectively, this morning. Prior to one week, the probability of a 75-basis-point increase in December stood at 54.9%.

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