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According to CCTV: Li Qiang chaired a symposium with economic experts and entrepreneurs.April 10th - At a special press conference held on the morning of the 10th, titled "Starting the 15th Five-Year Plan: Building the Hainan Free Trade Port to High Standards," it was announced that during the 14th Five-Year Plan period, the Hainan Free Trade Ports policies, including "zero tariffs," exemption from tariffs on processing value-added tax, and a "double 15%" income tax incentive, have cumulatively reduced taxes and fees and provided tax refunds exceeding 80 billion yuan for business entities.A Brazilian court rejected the governments request to continue exempting certain companies from oil export taxes.According to shipping intelligence firm Kpler, OPEC+ production in March fell by 20.5% compared to a record low in February. This translates to a month-on-month decrease of approximately 9 million barrels per day.On April 10, Kim Jong Un, General Secretary of the Workers Party of Korea and Chairman of the State Affairs Commission, met with Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, at the headquarters of the Workers Party of Korea Central Committee in Pyongyang. Wang Yi stated that China is willing to work with North Korea to implement the important consensus reached by the top leaders of the two parties and countries, strengthen exchanges and interactions, promote pragmatic cooperation, and inject new contemporary meaning into the traditional friendship between China and North Korea. Faced with a complex and volatile international situation, China and North Korea should, while firmly safeguarding their respective sovereignty, security, and development interests, further strengthen communication and coordination on major international and regional affairs, and make due contributions to safeguarding the common interests of developing countries and maintaining world peace and development.

Crypto Market Daily Highlights: XRP Led a Choppy Top Ten Session

Jimmy Khan

Feb 23, 2023 16:01

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It was a mixed session for the crypto top ten on Wednesday. XRP led the way, with BNB, DOGE, and MATIC bucking the bearish trend. The mixed session left BTC short of the $25,000 handle for the second time in seven sessions.


On Wednesday, the heavily anticipated FOMC meeting minutes drew plenty of interest. Less hawkish than expected, the broader crypto market cap responded to the minutes with a late partial recovery.


There were no surprises, with the minutes noting that inflation remained well above the Fed target and that labor market conditions are still very tight, contributing to the upward trend in wages and prices.


However, the markets were mindful of the shift in sentiment toward the US economy, labor market conditions, and inflation since the last FOMC meeting. The US unemployment rate fell to 3.4%, spending rebounded, service sector activity surged, and inflation remained sticky, questioning Fed Chair Powell’s disinflation view.


Mixed sentiment toward the minutes left the Dow and the S&P 500 with losses of 0.26% and 0.16%, respectively, while the NASDAQ Composite rose by 0.13%.


It was also a busier session on the crypto news wires. New York Attorney General filed charges against CoinEx for failing to register as a securities and commodities broker-dealer. NFTs were in the spotlight, with a Federal Judge ruling that NBA Top Shot NFTs could be unregistered securities.

The Day Ahead

In the afternoon session, US economic indicators and the NASDAQ Index will likely provide direction. Initial jobless claims and Q4 GDP numbers will be in the spotlight. An unexpected fall in jobless claims and a hotter-than-expected US economy could fuel Fed Fear.


Investors should also monitor Fed chatter. FOMC member Bostic speaks today. Following the FOMC meeting minutes, investors may need more up-to-date guidance on where the Fed stands vis-à-vis inflation, the economic outlook, and interest rates.


However, the crypto news wires also need tracking for events that could move the dial. Binance will remain a focal point, with FTX, Genesis, and Silvergate Bank updates needing consideration. However, regulatory activity and US lawmaker chatter will remain the key drivers.


The NASDAQ mini was up 69.5 points this morning, supporting the crypto market in the final hour.


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