The US stock market struggled sideways before the Fed's decision to raise interest rates. The cryptocurrency market also appears to be in decline. Follow the crypto message board for details.
• Sri Lanka asked China to help with trade, investment and tourism.
• The White House said Mr. Biden will hold a meeting on the semiconductor bill.
• The exodus of Ukrainian workers hits Europe's emerging economies.
• BoE worried about whether to join the club of big interest rate hikes?
• Output of factories in the UK slowed down, price pressure dropped to a peak.
• Ifo Institute says Germany is on the cusp of recession as business sentiment sinks.
• Sri Lanka restricts fuel imports for the next 12 months.
• Russia's Gazprom tightens gas flows to Europe.
• Economist Nouriel Roubini warns a shallow recession is 'A complete illusion'.
• The first shipments of Ukraine's Black Sea grain may be delivered in the next few days.
• The BOJ agrees on the need for low interest rates, considering wage growth as key to growth prospects.
The US stock market scaled back the decline as the fear that the Fed would sharply raise interest rates waned. The cryptocurrency market has a relatively strong recovery. Follow the crypto message board for details.
• The UK is under pressure to raise wages with 2.5 million workers.
• Russia cut its base rate by 50 bps to 9% on Friday.
• NAHB Housing Market Index hits 2-year low in July.v
• China ordered banks to lend money to real estate developers.
• The psychology of home builders in the US declined, service activities in the New York area stagnated.
• Canadian house prices in June started to decrease by 3% compared to May.
• US equity funds' net assets fell by $2 trillion in the second quarter.
• The Central Bank of Israel unanimously supported a 50 basis point increase in July to combat inflation.
• The Central Bank of the Netherlands fines Binance for providing illegal cryptocurrency services.
• Coinbase receives approval from a crypto asset service provider in Italy.
• Hackers took $375,000 from NFT Platform Premint.
The fear of a large interest rate hike by the Fed made the US stock market sink in the red despite a last-minute recovery. The cryptocurrency market also declined despite the subsequent recovery. Follow the crypto message board for details.
• Consumer price index (CPI) in June of the US increased hotly.
• Bank of Canada surprised by raising interest rates by 100 basis points when inflation risks increased.
• Mr. Biden said: June inflation data is "unacceptably high" but outdated.
• Brazil's retail sales increased 0.1% in May, less than expected.
• The scale of Ghana's inflation reached a new peak at 29.8% in June.
• The UK economy soared in May.
• China's exports rebound, but global risks cloud the trade outlook.
• The Bank of Canada said recent inflation forecast errors were mainly due to global shocks.
• US Central Bank economists say that a mild US recession will come this year.
• The rarest whiskey in the world is auctioned as NFT.
• Shanghai adds blockchain, NFT and Web3 in its next 5 year plan.
Important economic data results are due to be released, causing the US stock market to decline slightly. The cryptocurrency market also declined despite a prior recovery. Follow the crypto message board for details.
• Australian consumer sentiment continued to decline in July.
• Japan's wholesale prices prolong the rapid increase as a weak yen increases import costs.
• Ms. Yellen believes that the US economy is very strong despite inflation.
• China aims to build 461,000 km of national roads by 2035.
• Failure to implement Russia's oil price cap may increase oil prices.
• Chile announced a $1.2 billion aid plan amid rising inflation.
• Ecuador confirmed its deficit target of 2% of GDP despite the protests.
• Chinese banks increased lending in June but tensions persisted.
• GameStop released the NFT public beta to the market.
• Bank of England deputy governor says cryptocurrencies need regulation to reduce risks.
• Central banks are encouraged to work together on digital currency interoperability.
Minutes of the Fed meeting put pressure on the general market, causing commodity prices to fall deeply. The crypto market is still recovering pretty well. Follow the crypto message board for details.
• The Bank of Canada will raise interest rates larger, but pause before the Fed does.
• ISM's non-manufacturing PMI fell less than expected, as job opportunities also fell.
• Taiwan's June consumer inflation hit a nearly 14-year high.
• UK construction activity at the latest in nine months.
• German industrial orders increased slightly in May, reversing the previous trend.
• Euro Area retail sales increased slightly in May.
• The US employment rate remained high in May, the labor market remained tight.
• Indonesia's foreign exchange reserves increased to $136.4 billion at the end of June.
• Foreigners cut Chinese debt, buy stocks in June.
• When the Canadian government spends, the central bank bears the burden of keeping inflation in check.
• Tokyo school replaces fresh fruit with jelly as food prices soar
The cryptocurrency market recovered quite well during the holiday session yesterday in the US market, although the money flow is not strong enough, it shows the possibility of a pause in the decline. Follow the crypto message board for details.
• Ireland pushes budget package when surplus is expected in 2022.
• The Central Bank of Israel raised interest rates by 1/2 point.
• Canadian companies see higher inflation in the long run.
• Germany amends law to allow energy bailouts.
• Canadian factory activity grows at slowest pace in 17 months.
• France strengthens food price exploration to control inflation.
• German bankers voiced concern about the economic impact of the looming gas crisis.
• Germany has a trade deficit for the first time in 31 years.
• The Biden administration cut tariffs this week.
• Euro zone investor morale dropped due to bad expectations.
• Sango Genesis event reveals vision for the future of crypto in Africa.
The view that inflation has peaked has supported the US stock market's recovery. But the crypto market no corresponding recovery. Follow the crypto message board for details.
• US construction spending unexpectedly dropped in May.
• Factory data dampens global hopes for a 'soft landing'.
• Russian state-owned companies raise wages amid double-digit inflation.
• Manufacturing sector cooled as PMI dropped to 2-year low.
• Japanese companies disagree with the BOJ's view that inflation will be temporary.
• British manufacturing lost more momentum in June.
• China's June factory activity grew at the fastest pace in 13 months.
• Brazil achieved a trade surplus of 8.8 billion USD in June.
• The disruption of the Ukraine war caused agricultural input prices to increase by nearly 10% in the first quarter.
• China takes new steps to open up its bond market to foreigners.
• Global investors turn to selling equity funds due to recession fears
Mr. Powell's remarks sent the US stock market into a state of apprehension. Even the cryptocurrency market suffered a slight decline. Follow the crypto message board for details.
• Mr. Powell said: “time is counting down” for the Fed to reduce inflation.
• Chip exports to Russia decreased by 90% after officially restricting the US.
• The US economy weakened in the first quarter; prospects become dim.
• German inflation unexpectedly cooled down in June at 8.2%.
• European consumer sentiment is less than feared as companies strengthen their cash buffers.
• The New York Fed began to publish the corporate bond market decline.
• Credit Suisse eliminates negative interest rates for Swiss private clients.
• Russia's unemployment rate falls to a record low but economic barriers increase.
• Spain's 12-month inflation exceeded 10% in June, the first time since 1985.
• The World Bank's chief economist said it would be 'a long way' before debt relief for developing countries, 'sceptic' about
the possibility of avoiding a global recession.
The US stock market continued to be affected by the specter of inflation and the Fed's policy, causing it to close in the red. Tell
Even the cryptocurrency market suffered a slight decline. Follow the crypto message board for details.
• Mr. Biden increased US tariffs on some Russian imports to 35%.
• The G7 seeks to limit Russia's oil income through a price cap.
• US manufacturing shows resilience despite rising interest rates.
• China's industrial profit in May dropped again.
• German financial watchdog sees limited impact of Ukraine war on financial system.
• Japan said it was difficult to confirm the impact of Russia's default.
• US pending home sales unexpectedly recovered in May.
• Germany seeks foreign workers for airports amid intense summer tourism.
• The Central Bank of China will continue to support economic recovery.
• G7 aims to raise $600 billion to fight China's Belt and Road.
• TIME partnered with Sandbox to build Time Square in Metaverse.