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A Malaysian government spokesperson said that the oil and gas company has confirmed that energy supplies are sufficient in May and June, but some fuel shortages are expected afterward.On April 29th, the World Gold Council released its Q1 2026 "Global Gold Demand Trends Report," showing that global physical gold ETFs maintained net inflows in Q1, with global holdings increasing by 62 tons. Asian investors bought a significant 84 tons, while holdings in European and American markets saw a slight decline – net outflows from Western markets in March reversed the strong inflow momentum at the beginning of the year. Affected by high gold prices, global gold jewelry demand declined by 23% year-on-year to 300 tons. Demand for gold jewelry generally cooled in major global markets. However, in terms of spending, gold jewelry demand bucked the trend, indicating that even with historically high gold prices, consumers willingness to buy gold jewelry remains robust.On April 29th, the World Gold Council released its Q1 2026 "Global Gold Demand Trends Report," showing that global gold demand (including OTC transactions) reached 1,231 tons in the first quarter, a 2% year-on-year increase. While the increase in gold volume was moderate, the total value of demand surged to a record $193 billion, a significant 74% year-on-year increase. Strong gold prices and rising safe-haven demand drove a 42% year-on-year increase in global gold bar and coin investment, reaching 474 tons, continuing to drive structural changes in the global gold demand landscape. Chinas demand for gold bars and coins surged 67% year-on-year to 207 tons, a new quarterly high. Demand for gold bars and coins also increased in other Asian markets such as India, South Korea, and Japan. Demand for gold bars and coins in the US and European markets also saw strong growth, increasing by 14% and 50% year-on-year, respectively.On April 29th, RBC Capital Markets stated that it expects the Bank of Canada to keep interest rates unchanged for the fourth consecutive time, with policymakers closely monitoring the impact of rising energy prices on inflation. Overall CPI in April is likely to exceed the 1% to 3% target range for the first time since December 2023. However, interest rate policy cannot influence global oil prices, and its impact on the economy is lagged, meaning the central bank needs to base monetary policy on future inflation levels rather than current inflation. The Bank of Canada is expected to proceed cautiously as long as inflation expectations and broader inflationary pressures (excluding rising energy prices) remain under control. The Bank of Canadas Business Outlook Survey showed a rise in inflation expectations, but signs of further slowing in the March "core" indicators should allow the central bank to maintain policy flexibility in assessing new data and its recent forecasts. First-quarter GDP growth was broadly in line with the January forecast, and recent data suggests a modest recovery in economic momentum. The labor market also shows signs of stabilization, but the unemployment rate remains low, insufficient to indicate that underlying inflationary pressures are intensifying, meaning there is limited urgency for further policy adjustments in the near term.UK Housing Minister Reed: We are not considering rent control.

ETH Bulls Need to Avoid Sub-$1,500 to Target $1,700 on FTX Sentiment

Jan 16, 2023 15:42


On Saturday, Ethereum (ETH) gained 6.75%. On Friday, ETH gained 2.54% and closed the day at $1,550. For the first time since November 7, ETH finished the day at $1,500.


ETH rose from a low of $1,449 to a high of $1,598 over the first hour of a bullish trend before turning around. ETH crossed the Major Resistance Levels before slipping down to around $1,505. ETH breached both the Second Major Resistance Level (R2) at $1,505 and the Third Major Resistance Level (R3) at $1,570 during the downturn.


However, after regaining support in the late afternoon, ETH once again crossed R2, closing the day at $1,550.


Bitcoin (BTC) increased by 5.20% on Saturday. After breaking out by 5.70% on Friday, BTC finished the day at $20,966. Notably, BTC crossed the $10,000 threshold for the first time since November 7 and extended its winning run to seven sessions, the longest since March 2022.


BTC climbed from a low of $19,897 to a high of $21,378 over the first hour of a bullish trend before reversing. BTC crossed above both the Second Major Resistance Level (R2) and the First Major Resistance Level (R1) at $20,378 and $20,827, respectively. Nevertheless, the retreat caused BTC to briefly retest R2 and R1 before closing the day at $20,966.

Fed policy bets and reducing the risk of FTX contagion provided support

After a bullish Friday session, the Saturday session got off to a breakout start thanks to reduced FTX contagion risk. The possibility of another FTX-linked crypto site failing was lessened by reports that FTX had $5 billion in cash and cash equivalents and $4.6 billion worth of nonstrategic assets.


The most recent figures indicate that the damages resulting from FTX's collapse may be minimal, even if it could take some time for FTX to make creditors whole.


The prognosis for the US economy and the Fed's monetary policy were both seen favorably by the market. Bets for a 25-basis point increase in interest rates in February have been driven by recent US economic figures. The risk of a harsh landing would decrease with a less aggressive Fed interest rate trajectory.


The Sunday session got off to a bearish start. Investors probably locked in gains after a seven-day winning run before deciding what to do next. More price rises are supported by indicators and favourable conditions. However, regulatory risk and the SEC v. Ripple lawsuit continue to be challenges.


Crypto-negative outcomes include a Ripple defeat to the SEC and a change in the regulatory environment that stifles development and innovation.

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