Aurelia Butler

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    in Economy

    A debt crisis at the economy’s edge

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    in Economy

    China ‘dwarfs’ US investments in EU neighbourhood countries

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    in Cryptocurrency

    Finally Shiba Inu (SHIB) on Verge of Breakthrough, Solana (SOL) to Get Squeezed, Is Bitcoin (BTC) Getting out of Downtrend?

    SHIB has managed to break out of a descending triangle pattern. The price recently closed above the upper trendline of this pattern, suggesting a possible bullish breakout. This move is supported by increased buying volume.The 50-day moving average is currently above the 100-day moving average, indicating a bullish crossover in the medium term. However, the price is still below both moving averages, which suggests that SHIB needs to maintain its upward momentum to confirm a longer-term bullish trend.The Relative Strength Index (RSI) at the bottom of the chart is around 45, which is in the neutral zone. Key support levels to watch are around 0.000021 and 0.00001817. If SHIB can maintain its position above these levels, it could signal a strong foundation for future gains.On the resistance side, the immediate resistance level is around 0.000024. A successful break above it might open the door for a test of the next significant resistance at 0.000026. If SHIB manages to break through these resistance levels with strong volume, it could lead to a more sustained rally.SOL is trading around $145, with the 50-day EMA providing resistance around $157 and the 100-day EMA offering support at approximately $140. This squeeze signifies a narrowing trading range, which typically leads to a breakout once the price moves decisively above or below these levels.The RSI is currently at 48, indicating a neutral stance. This means SOL is neither overbought nor oversold, giving it room to move in either direction. The volume bars show a decline in trading activity, which is common during consolidation phases. Once a breakout occurs, we can expect a surge in trading volume, confirming the direction of the move.Key support levels to watch are at $140 and $116. The latter is particularly significant as it coincides with a previous low and the 200-day EMA, suggesting strong buying interest at this level. If SOL breaks below $140, it could test the $116 support, potentially leading to further declines if this level does not hold.On the resistance side, the immediate level to watch is $157, marked by the 50-day EMA. A successful break above this level could lead to a test of the $170 region, followed by a potential rally toward the $200 psychological level. For SOL to establish a bullish trend, it needs to break and sustain above these resistance levels with strong volume support.BTC has been consolidating around this resistance level after a series of lower highs and lower lows. The price is getting squeezed between the 50-day EMA (blue line) and the 100-day EMA (orange line), suggesting increasing pressure for a significant move.A break above the $62,000 resistance level could indicate a bullish reversal, while a failure to do so may result in a further correction within the existing descending channel.The RSI is around 44.98, which is in the neutral zone, suggesting there is room for movement in either direction. Additionally, the volume has been declining, which often precedes a major breakout or breakdown. If the price can break above the $62,000 level with strong volume, it would likely confirm the start of a new bullish phase.This article was originally published on U.Today More

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    in Economy

    Biden and Trump battle to prove who can be toughest on China

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    in Economy

    China-Russia: an economic ‘friendship’ that could rattle the world

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    in Economy

    China’s central bank leaves key policy rate unchanged

    WHY IT’S IMPORTANTThe steady MLF rate shows the central bank’s focus on keeping currency stability, analysts say, even as an unexpected credit contraction in April added to the case for more policy stimulus to prop up the world’s second-largest economy.The MLF loan operation also comes days ahead of the finance ministry’s scheduled sales of the first batch of 1 trillion yuan in ultra long-term special treasury bonds.BY THE NUMBERSThe People’s Bank of China (PBOC) said it was keeping the rate on 125 billion yuan ($17.28 billion) in one-year MLF loans to some financial institutions unchanged at 2.50% from the previous operation.In a Reuters survey of 32 market watchers, 84% of respondents expected the PBOC to leave the interest rate on MLF rate unchanged.CONTEXTChina’s yuan has lost about 1.9% against a resurgent U.S. dollar so far this year, pressured by its relatively low yields versus other economies.Beijing will step up support for the economy with monetary and fiscal policies, including cuts in interest rates and bank reserve requirement ratios (RRR), the Communist Party’s Politburo said in late April.KEY QUOTES”Recent data with low inflation, credit contraction, slowing money supply growth, and weak private sector investment present a strong case for rate cuts, suggesting that real interest rates remain too high and that RRR cuts are seeing diminished effectiveness,” economists at ING said in a note before the rate decision.”With that said, currency stabilisation has been a key consideration this year, and policymakers likely prefer for global rate cuts to begin before starting to cut rates,” they said.($1 = 7.2330 Chinese yuan) More

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    in Economy

    Brazil’s Lula fires Petrobras chief executive Prates

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    in Economy

    Upcoming data may help Powell, but trend will prevail to put hike on Fed table

    “We will see some data ebb the other way to give Powell some some comfort, but I think the underlying trend over the next six months is going to be firmed,” forcing the Fed to put the discussion of a rate hike on the table, Phillip Colmar, managing partner and global strategist at MRB Partners told Investing.com’s Yasin Ebrahim in a recent interview.  The recent slew of economic data since the turn of the year hasn’t helped the Fed chief’s view that rates are restrictive enough to rein in growth and inflation.Against the backdrop of above-trend economic growth and sticky inflation, the Fed chief has leaned heavily into the belief that time is needed for the current high level of interest rates to eventually work its way through economy and bring inflation back to the 2% target. “What that [the recent higher inflation readings] has told us is that we’ll need to be patient and let restrictive policy do its work,” Powell said during a speech at the annual general meeting of the Foreign Bankers’ Association in Amsterdam on Tuesday. But if policy isn’t restrictive, but accommodative, then time doesn’t work in favor of the Fed’s goal to curb growth and inflation, but rather against it.”The problem is that he’s probably got the balance wrong,” Colmar added. “Powell thinks policy is restrictive, but we’re still mildly accommodative… so time is working for the economy, not against it.”Everything in the markets and everything in the data is telling you that it is not true that rates are restrictive” Colmar added, forecasting that rates are likely to remain on hold before a hike next year amid expectations for the economic data and inflation to remain firmer than the Fed’s expects.”I think the Fed is more likely to hold rates through this year, at least through the election, and then look towards the hike next year if the data continues to stay firm, as we expect,” Colmar said. But there is a way for the Fed to have its easing cake and eat it too, or maintain its easing basis even if the data continues to run hot: Raise the inflation target to 3%. Powell, however, has appeared relunctant to entertain the idea of lifting the 2% inflation target. “If he’s not comfortable with 3%, if he won’t be easy with that, then we should be talking about potential rate hikes, not cuts, later this year going into next,” Colmar added. More