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On June 13, the U.S. Court of Appeals for the District of Columbia Circuit rejected an appeal by the U.S. government and the Kennedy Center for the Performing Arts Board of Governors on June 12, upholding the previous ruling by a federal district court that the name of U.S. President Donald Trump must be removed from the Kennedy Center for the Performing Arts by the end of June 12, Eastern Time.On June 13th, it was reported that 11 departments, including the Ministry of Transport, the National Development and Reform Commission, and the Ministry of Industry and Information Technology, jointly released the "Implementation Plan for Promoting the Large-Scale Application of New Energy Heavy-Duty Trucks." The plan clearly states that by 2030, the penetration rate of new energy heavy-duty trucks will reach 40%, with a total fleet exceeding 1.6 million vehicles, accounting for approximately 20% of the total fleet. This move aims to accelerate the green and low-carbon transformation of the transportation sector. New energy heavy-duty trucks refer to heavy-duty freight vehicles with a total mass of 12 tons or more that adopt new power systems. The plan specifies that 30,000 kilometers of zero-carbon highway transportation corridors will be built along key national highways, and approximately 3,000 heavy-duty truck charging and battery swapping stations will be deployed simultaneously. The plan also aims to promote the electrification rate of fixed-route short-haul transportation in key air pollution control areas such as the Beijing-Tianjin-Hebei region and the Fenwei Plain to exceed 80%.According to Iranian media Fars News: The Iranian Foreign Minister has been accused of undermining Irans negotiating position by pandering to Trumps policies.On June 13th, it was reported that on June 11th, the Shenzhen Municipal Market Supervision Administration convened a citywide administrative guidance meeting on compliance for online transactions during the "6.18" shopping festival. Over 103 representatives from more than 60 platform companies, e-commerce enterprises, and industry associations, including WeChat Mini Programs, Meituan, JD.com, Pinduoduo, Taobao, and Douyin, attended the meeting. At the meeting, the Municipal Market Supervision Administration provided compliance guidance on five key areas: transparency, fair competition, subsidies and promotions, advertising and marketing, and food safety. The purpose of this compliance guidance meeting was to align with the requirements of the State Administration for Market Regulations new regulations, strengthen the main responsibility of businesses, enhance awareness of rational promotion and compliant operation during the "6.18" shopping festival, and create a healthy, orderly, and fair online consumption environment.① Iran 1. Iranian lawmakers say the US attack on Iran again is actually a form of pressure. 2. Irans Islamic Revolutionary Guard Corps stated that Iran is now stronger and better prepared than ever before, and is "ready to act" at any time against any act of aggression. ② United States 1. US media: Officials from multiple countries called to persuade Trump to postpone military action. 2. US officials stated that the US military shot down two Iranian one-way attack drones. 3. Trump: The terms leaked by Iran to "fake news" have nothing to do with the terms of the written agreement. 4. According to CNN, citing defense officials, the US shot down two Iranian attack drones last night. 5. US officials: The Strait of Hormuz will be open under the agreement. Iran will not receive any funds until it fulfills its obligations. 6. According to Reuters: An informed source revealed that the US military shot down several Iranian one-way attack drones flying towards the Strait of Hormuz. The source said that Iranian drones pose a threat to commercial shipping. 7. US Vice President Vance: There is a lot of misinformation surrounding the potential agreement to reopen the Strait of Hormuz and end Irans nuclear weapons program. Iranians have not received any cash, nor will their funds be unfrozen simply because they signed an agreement or attended a meeting. ③ Israel 1. Israeli Prime Minister Netanyahu: As long as I am Prime Minister of Israel—Iran will not possess nuclear weapons. President Trump and I are completely aligned on this issue. 2. Israeli Defense Minister: He and Prime Minister Netanyahu have instructed the Israeli military to prepare to prevent Iran from acquiring nuclear weapons. Israel will not withdraw from the safe zones in Lebanon, Syria, and Gaza. ④ Strait of Hormuz 1. Iranian Foreign Minister: Services related to the Strait of Hormuz will be charged. The management model of the Strait of Hormuz will not be restored to the pre-war state. 2. The US military claims to have diverted 136 ships during the blockade of the Strait of Hormuz; it has rendered 9 ships incapable of navigation to ensure compliance with the blockade. 3. According to the Islamic Republic News Agency (IRNA): Iran will not restore the state of the Strait of Hormuz to the pre-war level. According to the memorandum of understanding with the United States, Iran made no commitments regarding the transfer of control over the Strait of Hormuz. The future management of the strait will be resolved as a regional matter through dialogue and joint decision-making between Iran and Oman. 4. According to Iranian reports, 50 ships are awaiting passage permission from the Islamic Revolutionary Guard Corps Navy after the suspension of passage in the Strait of Hormuz due to US hostile actions. ⑤ Ceasefire Negotiations 1. Iranian media released new details of the Iran-US memorandum of understanding, stating that final confirmation from relevant departments is still required. 2. Reports indicate that the UAE has agreed to unfreeze billions of dollars in funds for Iran, which the UAE Foreign Ministry denied. 3. According to Al Arabiya: Iran is demanding an agreement with the US in a European country to give the agreement international legitimacy. 4. According to CNN, citing sources, Israel is pressuring to prevent the unfreezing of Iranian assets in the ceasefire agreement. 5. Iranian Foreign Minister: The Iran-US memorandum of understanding may be signed within days; the draft includes provisions for a ceasefire on the Lebanese front. The US pledged not to wage war in the memorandum. The only preferred solution for disposing of highly enriched uranium stockpiles is to de-enrich and dilute the relevant materials. 6. G7 official: The US-Iran memorandum of understanding could be signed as early as Sunday in Geneva; Iran subsequently denied the claim that an agreement would be signed in Geneva on Sunday. 7. According to the Islamic Republic News Agency (IRNA): Iran seeks war reparations within a "realistic framework." The current memorandum does not reach any agreement on the nuclear issue. Nuclear negotiations will take place within 60 days of the agreements signing. 8. According to the Islamic Republic News Agency (IRNA): A spokesperson for the Iranian Foreign Ministry stated that both sides have reached consensus on most issues in the negotiations, and we are currently in the final stages of the internal decision-making process. 9. US official: The US and Iran are close to reaching an agreement, which will be signed in the coming days. The terms of the memorandum of understanding include the reopening of the Strait of Hormuz and the lifting of the US blockade of Iranian ports. Irans highly enriched uranium will also be destroyed on-site and subsequently shipped out of the country. Under the agreement, the US will acquire Irans enriched nuclear materials. ⑥ Other situations: 1. Egypt urges the US and Iran to seize the "current opportunity" to end the war. 2. Lebanese President: The state of hostilities will only end when conditions such as Israels withdrawal are met. 3. The Indian Ministry of External Affairs has conveyed to US diplomats that it will ensure that US forces operating in the region take necessary measures to prevent civilian casualties.

Early Support for ETH and BTC, with US Economic Indicators in Focus

Alina Haynes

Nov 03, 2022 19:39

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Wednesday saw Bitcoin (BTC) and Ethereum (ETH) join the larger market in the red. The NASDAQ Composite Index, Bitcoin, and Ethereum all fell in response to Fed Chair Powell's news conference. Nevertheless, the technical indications continue to be optimistic, indicating upward price trends. On Wednesday, Ethereum (ETH) fell 3.80%. Reversing Tuesday's gain of 0.32%, ETH closed the day at $1,518.

 

After a turbulent morning session, ETH recovered to a high of $1,622 by late afternoon. ETH surpassed the First Major Resistance Level (R1) at $1,606 prior to falling to a late low of $1,506. ETH ended the day below $1,520 after breaking through the First Major Support Level (S1) at $1,556 and the Second Major Support Level (S2) at $1,535.

 

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 beginning at 0 pips and commissions of $3.50 every 100k 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 Wednesday, the price of bitcoin (BTC) plummeted by 1.63 percent. BTC ended Tuesday at $20,165, a decrease of 0.04% from its opening price.

 

BTC rose to a high of $20,817 in response to the FOMC Statement, following a range-bound morning. BTC surpassed the First Major Resistance Level (R1) at $20,686 before falling to an intraday low of $20,086. BTC went below the First and Second Major Support Levels (S1 and S2) at $20,327 and $20,154, respectively.

 

In accordance with forecasts, the Fed raised rates by 75 basis points on Wednesday. The FOMC Statement hinted at a likely policy move in December, lending credence to December Fed pivot wagers. The Rate Statement pushed BTC and ETH to their daily peaks.

 

However, Fed Chair Powell dashed prospects for a reversal, citing excessive inflation and the need to continue forward. Powell remarked that the "final level of interest rates will be higher than anticipated."

 

As a result, the NASDAQ Composite Index fell 3.36 percent, sending BTC and ETH into the negative.

 

Today, attention will be on US factory orders, jobless claims, and the ISM Non-Manufacturing PMI. We anticipate the PMI and its subcomponents to have the most effect.

 

Due to the sensitivity of BTC and ETH to US economic statistics and the FED, the correlation with the NASDAQ Composite Index remains intact. The NASDAQ 100 Mini was up 35 points this morning.