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According to the Wall Street Journal: Sources said that TSMC (TSM.N) will prioritize investment in the United States to cope with the threat of chip tariffs. The company will delay the start of construction of its second chip factory in Japan.Hong Kongs Hang Seng Index closed at 23,916.06 points on July 4 (Friday), down 153.88 points, or 0.64%. Hong Kongs Hang Seng Tech Index closed at 5,216.26 points on July 4 (Friday), down 17.45 points, or 0.33%. The CSI 300 Index closed at 8,609.27 points on July 4 (Friday), down 39.17 points, or 0.45%. The H-share Index closed at 4,091.81 points on July 4 (Friday), down 5.65 points, or 0.14%.At the close of Hong Kong stocks, the Hang Seng Index closed down 0.64% and the Hang Seng Tech Index closed down 0.33%.Futures July 4 news, last nights non-agricultural data was unexpectedly better than expected, the number of new jobs rebounded, the unemployment rate fell, and the initial jobless claims, PMI and other data also showed good resilience. The markets expectations for the Feds future interest rate cuts were adjusted again, which put pressure on precious metals to adjust back during the session, but silver performed more strongly relative to gold, perhaps due to the return of the gold-silver ratio and further driven by fundamental factors. However, as the trade negotiation deadline set by the Trump administration is gradually approaching, and as the "Big and Beautiful" bill continues to advance, the debt and deficit problems of the United States may further deepen in the future, so it is expected that precious metals will continue to maintain a strong trend overall.On July 4, the State Administration for Market Regulation revised and issued the national standard "Special Requirements for Intelligent Technology Refrigerators for Smart Household Appliances", which will be officially implemented on December 1, 2025. The standard stipulates the data management specifications, intelligent function requirements and supporting test methods for smart refrigerators, and proposes the calculation of the intelligent index and the star rating system.

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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