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February 12th - Hedge funds are showing a clear shift, increasing bets on a stronger yen amid a rising "buy Japan" trend. Traders say that even though strong US jobs data has weakened market expectations for a Fed rate cut this year, bullish sentiment on the yen is still rising. On Wednesday, the yen rose against the dollar for the third consecutive trading day, remaining strong despite pressure on the dollar following the release of the US non-farm payrolls report. According to data from the Depository Trust & Clearing Corporation (DTCC), on Wednesday, trading volume of USD/JPY put options with a notional size of $100 million or more was about 50% higher than that of call options of the same size. The premium for options betting on or hedging a decline in USD/JPY over the next month has risen to its highest level since February 2nd.On February 12th, the Ministry of Education released the "Opinions on Deepening the Reform of Key Elements of Vocational Education Teaching," which proposes: dynamically adjusting professional settings, actively adding new programs, eliminating redundant ones, and upgrading existing programs. Focusing on the goal of cultivating highly skilled personnel, the Opinions call for strengthened coordination in adjusting and optimizing professional settings, and strict implementation of the "red and yellow card" system. The Opinions also advocate utilizing big data and artificial intelligence to accurately predict the supply and demand of talent in key areas, providing a scientific basis for dynamic adjustments to professional settings. Furthermore, the Opinions encourage exploring the establishment of a rapid response channel for adding new programs, focusing on emerging and future industries, with a focus on adding new programs in areas such as low-altitude economy, artificial intelligence, high-end equipment, urban renewal, and areas of urgent need in peoples livelihoods. The Ministry of Education requires all provinces developing modern vocational education systems to formulate professional setting plans based on regional key industry development plans and to publish an annual analysis report on the matching of vocational education professional settings with industrial development.February 12th - With the continued optimization of visa-free and consumption-boosting policies, both inbound and outbound tourism are expected to increase during the Spring Festival holiday, leading to peak passenger flow at some major ports of entry. According to the National Immigration Administration, the average daily number of inbound and outbound passengers at ports nationwide during this years Spring Festival holiday is expected to exceed 2.05 million, a 14.1% increase compared to last years holiday. Major airport ports are expected to see significant growth in passenger flow, with the peak outbound passenger flow anticipated on February 15th (the 28th day of the twelfth lunar month) and the peak inbound passenger flow expected on February 22nd and 23rd (the sixth and seventh days of the first lunar month).Samsung Electronics shares rose to 6%.On February 12th, the General Office of the Ministry of Commerce issued a notice regarding the implementation of the trade-in program for consumer goods during the 2026 Spring Festival holiday. The notice states that, in keeping with Spring Festival customs and adding to the festive atmosphere, consumers are encouraged to go out and shop. During the nine-day Spring Festival holiday in 2026 (February 15-23), consumers will be fully guaranteed access to apply for subsidies for trading in old home appliances and purchasing new digital and smart products through offline channels. Consumers who purchase new cars during the nine-day Spring Festival holiday can apply for car trade-in subsidies according to policy requirements.

XRP and a Return to $0.50 Remains in the Hands of the SEC v Ripple Case

Cory Russell

Nov 03, 2022 15:32

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Wednesday saw a 2.99% decline in XRP. XRP lost 0.18% on Tuesday and closed the day at $0.45025. Notably, XRP missed $0.47 for the third session in a row.


Despite a tumultuous day's start, XRP reached an early high of $0.46579. XRP fell to a late low of $0.44533, falling short of the First Major Resistance Level (R1) at $0.4690. At $0.4570, the First Major Support Level (S1) was breached by XRP, which finished the day at $0.45025.


The FOMC policy decision and press conference took center stage, pushing updates from the SEC v. Ripple lawsuit to the sidelines.


Counterparties take a break from filing amicus briefs while the Fed speaks.


On Wednesday, Amicus Brief filings were suspended. Investors must wait for SEC and Court responses on the filings after a series of requests and filings.


The Amicus filings show XRP uses that support the Defendants' position, and there has been substantial support for the Defendants; but, the Court would need to come to a same conclusion.


The SEC has chosen to hold off on making a statement until November 15 because it will not give up easily. The deadline for filing temporary under seal summary judgment reply papers is November 15.


The Fed now controls XRP since there have been no developments on the case. Prior to Fed Chair Powell sending riskier assets into the red, the first market response to the FOMC announcement drove XRP to an afternoon high. The markets had gambled on a December Fed Pivot before to the FOMC policy decision. Powell eliminated any doubt and emphasized the need to keep raising rates to combat inflation.


Later on today, attention will once again turn to US economic statistics, with the ISM Non-Manufacturing PMI and its sub-components expected to have the most impact.


Updates from the current SEC v. Ripple lawsuit will still provide XRP direction, however.