The FED core PCE may rise this month
The US and international markets are expected to see new highs in equities ahead of schedule due to a relaxed Federal Reserve chairman and producer price reading. The tech-heavy Nasdaq set a record closing high on Tuesday, while MSCI’s all-country index charged to all-time highs on Wednesday. The STOXX 600 pan-Europe index also set new…
Bitcoin’s trade volume is far low in Q1 2024
Bitcoin’s retail interest rate recovery is still in its infancy, with just $56 billion in customer trade volumes recorded in Q1 2024. The retail interest rate recovery is far less than the $133.75 billion quarterly average from the previous comparable rally in 2021. The most recent increase was driven by the establishment of U.S. bitcoin…
Japan aim to rising wages and prices balance
Japan’s ruling party member Katsunobu Kato has expressed growing political support for additional interest rate hikes, stating that the central bank needs to closely monitor the economy and consult with the government. Kato believes Japan is moving towards an era where prices and wages are rising, and that monetary policy will revert to the original…
Pfizer and AstraZeneca drop $1 billion investments in France
Pfizer and AstraZeneca have announced significant investments in France, totaling around $1 billion, just before the start of the ‘Choose France’ business event. Pfizer plans to invest $538.5 million in research and development, while AstraZeneca will invest $388 million for its Dunkirk location. The investments come just before President Macron’s yearly ‘Choose France’ campaign begins.
Binance has registered with FIU in India
Binance, the world’s largest cryptocurrency exchange, has registered with the Financial Intelligence Unit (FIU) in India. The move comes after Binance was banned in December for violating local legislation. The FIU requires virtual digital asset service providers to register and adhere to anti-money laundering regulations. Binance cannot restart operations until it pays a fine for…
Gold soar high, India demands slip low
India’s demand for physical gold was significantly lower during Akshaya Tritiya, the second-largest festival for buying gold after Dhanteras. Dealers offered discounts to prevent retail consumers from purchasing at nearly record-high prices. Over 21% of prices have increased since the previous Akshaya Tritiya festival. Indian dealers were offering discounts of up to $7 per ounce…
Binance sued $4.38 million for money laundering violation
Binance, a cryptocurrency exchange, was fined over C$6 million ($4.38 million) by Canada’s anti-money laundering agency for violating money laundering and terrorism funding laws. The company failed to register as a foreign money services business and failed to disclose receiving virtual currency valued at C$10,000 or more on 5,902 consecutive occasions between June and July…
No rates cut needed in short term, Holzmann said
Austrian central bank governor Robert Holzmann emphasized that the European Central Bank should not rapidly or sharply lower interest rates, citing the influence of the US Federal Reserve.