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On April 18, it was reported that on April 17, Ding Xuexiang, Special Representative of President Xi Jinping, Member of the Standing Committee of the Political Bureau of the CPC Central Committee, and Vice Premier of the State Council, and Gurbanguly Berdimuhamedov, Leader of the Nation of Turkmenistan and Chairman of the Council of Peoples Council, jointly attended the groundbreaking ceremony for the fourth phase of the Renaissance Gas Field project in Maly Region, Turkmenistan. Ding Xuexiang emphasized that the fourth phase of the Renaissance Gas Field project carries the earnest expectations of the top leaders of both countries and embodies the common aspirations of the people of both nations. He expressed hope that the relevant departments and enterprises of both sides would meticulously organize and scientifically construct the project, ensuring its solid and orderly progress. Ding Xuexiang stated that China is willing to work with Turkmenistan to take the fourth phase of the Renaissance Gas Field and other major projects as a new starting point to continuously deepen pragmatic cooperation in various fields, promote the development of both countries and regional prosperity and stability, and jointly build a closer China-Turkmenistan community with a shared future. Ding Xuexiang and Gurbanguly Berdimuhamedov jointly visited an oil and gas equipment exhibition, gave instructions via video link to commence drilling operations on-site, and held a groundbreaking ceremony.The Federal Reserve accepted a total of $137 million from four counterparties in its fixed-rate reverse repurchase operations.On April 18, Iranian Foreign Ministry spokesman Baghae stated on the 17th that the US-imposed maritime blockade against Iran is considered a violation of the ceasefire agreement, and Iran will take necessary measures in response. Baghae also emphasized that Iran is the "guardian" of the Strait of Hormuz, and if necessary, Iran will take uncompromising action to earnestly safeguard the interests and rights of its people.The total number of natural gas drilling rigs in the United States for the week ending April 17 was 125, compared with 127 in the previous week.The total number of oil rigs in the United States for the week ending April 17 was 410, compared with 411 in the previous week.

Crypto Market Daily Highlights – SOL and XRP Lead the Top Ten Reversal

Skylar Shaw

Oct 25, 2022 15:40

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The top ten cryptocurrency index had a gloomy start to the week. The road down was headed by ripple (XRP) and solana (SOL). BTC avoided sub-$19,000 for a third session despite the negative session, but it fell short of $20,000 for the seventeenth day in a row.


Riskier assets were under pressure this morning as a result of market response to Xi Jinping being elected to a third term as president and having a cabinet full of supporters. The immediate worries continue to include Xi's backing of Vladimir Putin, China's stance on Taiwan, and its zero-tolerance approach to COVID-19.


The US and EU private sector PMIs contributed to the pessimistic mood. The Eurozone Composite PMI decreased to 47.1, a 23-month low. The US services PMI dropped significantly from 49.3 to a two-month low of 46.6, increasing the risk of a US recession.


However, the lower PMI figures for the private sector had little effect on public opinion of Fed monetary policy. The FedWatch Tool estimated the likelihood of rate increases in November and December to be 95.5% and 54.9%, respectively, as of this morning. The probability of a December 75-basis point increase was 45.6% a day ago.


The next day's events will be influenced by US consumer confidence data. Despite the NASDAQ 100 gaining by 0.80% on signs that the Fed is slowing the economy, the crypto market declined on Monday. The Fed may be able to let off the throttle if the economy weakens.

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