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Chinas trade balance in May was 723.98 billion yuan, compared with 585.69 billion yuan in the previous month.June 9th - Starting in June, electronic savings bonds have been officially included in the scope of personal pension products. This means that citizens who have joined the personal pension system can directly purchase electronic savings bonds through their accounts. According to the issuance schedule, the latest issue of savings bonds will be available for purchase on June 10th. Currently, many banks have added bond purchase portals to their mobile apps personal pension sections. Alternatively, citizens can also visit a bank branch with their bank card and ID to apply for personal pension savings bonds.The China Earthquake Networks Center officially reported that a magnitude 3.6 earthquake struck Wensu County, Aksu Prefecture, Xinjiang, at 10:17 AM on June 9th, with a focal depth of 12 kilometers.On June 9th, the General Office of the Hainan Provincial Peoples Government issued the "Hainan Provinces 15th Five-Year Plan for High-Tech Industry Development," which mentions that, with serving the "Aerospace Power" strategy as its core, the province will fully promote the construction of Hainans commercial space launch site, forming a complete industrial cluster covering commercial launch, rocket and satellite manufacturing, and satellite applications, creating a rocket chain, satellite chain, data chain, and "aerospace+" industrial system. By 2030, the revenue of the commercial aerospace industry is expected to reach 50 billion yuan.The Hang Seng Index turned positive, with stocks related to chips, PCBs, leading tech companies, and cloud computing performing strongly.

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

Daniel Rogers

Nov 01, 2022 17:52

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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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