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The People’s Bank of China (PBoC) kept the interest rates unchanged at today’s monetary policy meeting, but extended long-term liquidity to boost anemic Chinese growth.
But interestingly, the higher PBoC liquidity and looser PBoC rate expectations couldn’t boost global growth optimism this Monday. Crude oil slipped below $70pb, while copper futures remained under pressure.
In the US, data released Friday showed that the US consumer sentiment fell to a 6-month low, as long-term inflation expectations jumped to a 12-year high, fueling worries that the Federal Reserve (Fed) may not stop hiking the interest rates, or, it won’t be able to...

As expected, the Bank of England (BoE) raised the rates for the 12th time yesterday, and Governor Bailey left the door open for further rate hikes.
Cable fell, and tipped a toe below the 1.25 mark, but the selloff was mostly driven by a broadly stronger US dollar.
Even though the US PPI data came in softer than expected, and US jobless claims reached the highest since October 2021 and PacWest slumped 22% after announcing that its deposits fell nearly 10% last week, and the US 2-year yield fell - all these factors normally being bearish for the dollar -,...

Inflation in the US came in slightly better than expected by analysts. The headline inflation slipped below the 5% psychological mark – to 4.9%. Core inflation eased to 5.5%, and the monthly headline figure jumped to 0.4% from 0.1% printed a month earlier, as expected.
Fed rate cut expectations jumped again. The consensus is that the Fed's latest rate hike was certainly its last for this cycle, and the Fed will cut the rates by 75bp before the year ends.
US yields and the dollar fell, equities found support. Nasdaq advanced to highest levels since last August.
Across the Atlantic...

Why are bitcoin's fees skyrocketing and what are the alternatives? Why does Ripple have to pay 200 Mio. USD for their case and is the US still the best place to start a crypto or fintech company?

00:00 Intro
00:25 Preview
00:44 Bitcoin
06:45 Ethereum
08:52 Ripple
10:40 Polkadot
12:45 Subscribe & Good bye

#crypto #cryptonews #cryptotrading #swissquote

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No one was naïve enough to expect an agreement on the US debt ceiling yesterday, when US President Joe Biden met Kevin McCarthy.
US treasuries remain under a decent selling pressure especially at the short end of the yield curve as investors dump US short term papers due to the rising US default risk. Gold gained, as equities slid.
The US will reveal a much-important update to its CPI today, and the data could also shake sentiment at today’s trading session.
Core inflation is expected to have slightly eased from 5.6% to 5.5% in April, headline inflation is seen steady...

The week started on a mixed note. Bank stress further eased with PacWest and Western Alliance, which were the two banks that were on the chopping block after the First Republic Bank got swallowed by JPM, rallied, but gave back most of earlier gains.
Federal Reserve’s (Fed) senior loan officer opinion survey came in worse than expected. The data showed that the banks who tightened credit conditions were higher than expected, around 46%, versus 44.8% expected.
On the political front, tensions regarding the US debt ceiling impasse remain high as US President Joe Biden meets congressional leaders today to discuss...

Strong jobs data reversed expectation of a Federal Reserve (Fed) rate cut in July on Friday.
The US 2-year yield rebounded from last week’s lows, but the dollar index remained offered at session highs, on the unresolved US debt ceiling debate, and despite some relief on regional banks front.
US President Biden will meet some congressional leaders this week but will unlikely compromise on spending.
On the economic calendar, investors will focus on US CPI report, due this Wednesday, and Bank of England (BoE) rate decision, due Thursday.
Cable tests the ceiling of a long-term down-trending channel, as economists and...

The ECB slowed the pace of rate hikes to 25bp this month, bt left the door wide-open to more rate hikes in the coming months.
The growing divergence between the ECB and the Fed policy outlooks builds a stronger case for a significantly higher euro against the US dollar; price pullbacks continue to be interesting opportunities to strength long positions in the single currency.
In the US, stress around the US regional banks don’t seem to be abating. Lately on the chopping block are PacWest and Western Alliance, that lost 50% and 38% respectively yesterday.
US banks slid close to...

As expected, the Federal Reserve (Fed) raised the interest rates by another 25bp yesterday, and hinted at an eventual pause ‘to wait and see’ what happens from now.
Fed Chair Powell said that ‘conditions in the banking sector improved since early March’.
BUT PacWest, another US regional bank, saw its share price slump by more than 50% in the afterhours trading, after the bank announced that it considers strategic options like a breakup, capital raising or a sale.
Equities and oil sold off, as US yields tumbled and gold rallied.
Today, the European Central Bank (ECb) is also expected to...

Banking relief after JP Morgan swallowed the First Republic Bank on Monday remained short-lived, SPDR’s US regional bank ETF was down by more than 6%.
It means that, no, the US regional banking crisis is hard to wane, high interest rates are truly being felt and the latter will likely have a sizeable impact on credit lending, hence on economic activity.
On the data front, the job openings data released yesterday in the US showed that the job vacancies in the US fell for the 3rd month, to 9.6mio.
Bank stress and soft economic data fueled safe haven demand, and...