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The Philippine peso rose to 59.543 pesos to the US dollar, a new high since March 23.April 8th - Today, the full text of the "Outline of the 15th Five-Year Plan for National Economic and Social Development of Beijing" was released. The outline sets an average annual economic growth target of 4.5% to 5% for Beijing from 2026 to 2030, striving for even better results. This means that Beijings economic growth over these five years will exceed one trillion yuan. According to the Beijing Municipal Development and Reform Commission, the outline aims to achieve the goal of basically realizing socialist modernization by 2035, accurately grasping the stage-specific characteristics of the "15th Five-Year Plan" period, such as the technological revolution and industrial transformation, and changes in population structure. It sets 29 major indicators, all of which have been scientifically calculated and comprehensively balanced, guiding the implementation of key tasks in the outline year by year.As of 09:30 Beijing time, WTI crude oil futures fell 13.93% and US natural gas futures fell 3.55%.On April 8, Irans Supreme National Security Council issued a statement saying that, based on the suggestion of Irans Supreme Leader Mojtaba Khamenei and with the approval of the Supreme National Security Council, Iran will hold two weeks of negotiations with the United States in Islamabad, the capital of Pakistan, on April 10. However, Iran expressed "complete distrust" of the United States.April 8 - According to a CNN report on April 7, the Trump administration is preparing for possible face-to-face talks between U.S. and Iranian officials.

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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