Financial News

Germany services PMI data could support investor bets on a September ECB rate cut. Eurozone data will also need to signal a weakening economy, however.

Fed looks ready to start the rate cut cycle at the next meeting.

BlackRock has surpassed Grayscale in Bitcoin holdings. This shift marks a significant turning point in the Bitcoin ETF sector.

Eurozone wage growth and inflation data loom as key factors influencing ECB’s rate decision amid mixed producer price signals

It is another pivotal week ahead for the global markets, with the Jackson Hole Symposium the main event.

Circle to Launch USDC Payments on Apple Devices Circle CEO Jeremy Allaire recently hinted at a transformative development in digital payments. Following Apple’s decision to open the iPhone’s NFC payment functionality to third-party developers, Allaire hinted that tap-to-pay payments using Circle’s USDC stablecoin are “incoming soon.” This development has the

Easing fears of a US economic recession and expectations of multiple 2024 Fed rate cuts fueled crypto demand.

Year-ahead inflation expectations remained unchanged at 2.9%.

U.S. residential construction slows in July 2024 with permits and starts declining. Rising rates and uncertainty suggest bearish housing market trends.

UK retail sales recover in July, which could test investor expectations of a Q4 Bank of England rate cut after recent wage growth and inflation numbers.

Natural gas prices test multi-week highs as traders react to the bullish report.

U.S. retail sales jumped 1% in July, hitting $709.7B and exceeding expectations. Strong consumer demand boosts economic confidence amid easing inflation.

Gasoline inventories decreased by 2.9 million barrels from the previous week.

July 2024 inflation rises to 2.3% year-over-year. Energy prices surge, with gas up 11.4%. Service sector inflation slows, as transport and communication prices drop.

The UK core inflation rate declined in July, with softer services inflation significant. However, headline inflation rose, creating policy uncertainty.

Core PPI, excluding food, energy, and trade services, advances 0.3% in July, outpacing June’s 0.1% increase and hinting at stronger inflationary pressures.

On Tuesday, August 13, the UK unemployment rate unexpectedly declined in June, while wage growth softened, delivering more policy uncertainty.

It could be a pivotal week ahead for the markets, with economic data from the UK, the US, Japan, and Australia putting central banks on watch.

The crypto market cap was up 3.65% for the current week, with easing fears of a US recession driving buyer demand for riskier assets, including crypto.

July inflation numbers from Germany highlighted the challenges that the ECB faces with services inflation showing no signs of softening.