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Sunac China (01918.HK) fell more than 6% in the afternoon, with its share price hitting a new all-time low.Energy: 1. Kuwait lowered its August crude oil price forecast for Asia. 2. South Africa plans to increase its strategic oil reserves to address supply risks. 3. Iraqi Prime Minister visits Washington on Monday, expected to sign an oil and gas agreement. 4. Tensions in the Middle East escalate again; European jet fuel inventories can only last less than a month. 5. EU imports from Russias flagship LNG project hit a record high in the first half of this year. 6. Eni CEO: If the Middle East conflict continues, the oil market may break out of its current range in early 2027. 7. Goldman Sachs: Recent attacks highlight the uncertainty of the Gulf regions export prospects, and a serious escalation could exacerbate the risk of short-term price increases. Future expansion of pipeline capacity around the Strait of Hormuz would pose a downside risk to the long-term price assumption of $76 per barrel. Iran Situation: 1. Iran launches large-scale attacks on US military targets in the region. 2. Iranian Revolutionary Guard announces closure of the Strait of Hormuz. 3. US Central Command: Completes another round of strikes against Iran, using unmanned surface vessels for the first time. 4. Data shows that after the resumption of hostilities between the US and Iran, ships secretly passed through the Strait of Hormuz with their transponders off. 5. EU High Representative for Foreign Affairs and Security Policy, Karas: No tolls or fees should be charged for passage through the Strait of Hormuz. 6. Iranian Revolutionary Guard: Strike at US military facilities in Bahrain and destroy radar systems in Oman. Other: 1. The US plans to significantly increase its imports of Mexican sugar to 1.15 million tons.July 13 - On July 10, Zhang Baofeng, Deputy Director of the General Administration of Customs, met with a delegation led by Sivit, Director General of the Namibian Revenue Service, at the Administration. The two sides exchanged views on implementing the important consensus reached by the two heads of state and deepening cooperation between China and Namibia in areas such as smart customs, AEO mutual recognition, customs cooperation, and capacity building.July 13 – Taiwan Semiconductor Manufacturing Company (TSM.N) reported a 36% increase in quarterly sales, meeting market expectations and indicating continued strong global demand for artificial intelligence hardware. Calculations show that TSMCs revenue reached NT$1.27 trillion (US$39.6 billion) in the three months ending in June, in line with analysts average expectations. This figure was driven by strong performance in June, with sales increasing by 68% year-on-year. In June, CEO C.C. Wei warned that even with more manufacturing capacity added in the US in the coming years, the company will still be unable to meet demand dominated by US customers for many years. This view is echoed by major chipmakers. SK Hynix currently expects the continued shortage of memory chips to extend beyond 2030. TSMC will release its full financial report on Thursday, along with an updated full-year outlook and capital expenditure plans.The Russian Federal Security Service (FSB) thwarted a series of large-scale drone attacks by the Ukrainian armed forces against military infrastructure, defense industry enterprises, and military personnel.

XRP Bears to Target Sub-$0.3650 on SEC Activity and Fed Fear

Alice Wang

Feb 15, 2023 16:12

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Tuesday saw an increase in XRP of 3.13%. Reversing a Monday decline of 1.14%, XRP finished the day at $0.38228. Since January 13, XRP has twice gone below $0.37.


XRP saw a negative start to the day, dropping to a low point of $0.36491 early on. After avoiding the First Major Support Level (S1) around $0.3624, XRP surged to a high of $0.38373 in the last hour. To close the day at $0.38228 XRP successfully overcame the First Major Resistance Level (R1) at $0.3787.

US Legislators Question Gensler's Strategies

There were no new developments in the SEC v. Ripple lawsuit on Tuesday that may have changed market sentiment. Following SEC actions against Kraken, staking services, Paxos, and Binance USD, US politicians offered relief (BUSD).


Gary Gensler and the SEC were the subject of increased scrutiny on Tuesday in the aftermath of the FTX bankruptcy.


A hearing titled Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets was conducted on Tuesday by the Senate Banking Committee. Gary Gensler and the SEC's shortcomings were brought to light by concerns about their regulation through enforcement and lack of SEC advice to crypto companies.


Legislators noted Gensler's appearances on morning talk programs and called for him to testify as soon as possible.


Investors saw the emphasis on Gensler and the SEC's enforcement-based regulation as advantageous, supporting a bullish day. The timing of Gensler's strategies is crucial for the SEC since Judge Torres, who is presiding over the case, is now in charge of the SEC v. Ripple.


The cryptocurrency markets will be hoping that Ripple succeeds so that US politicians are forced to take action against the SEC Chair. More crucially, the CFTC may take control if the records relating to the William Hinman speech are made public.