DIFX Buzz: Here’s a weekly market recap for you to start your Monday with the top news of the week.
Let’s see what happened in markets this week:
❖ CPI data out of the US is coming out today and is forecasted at 4.1%.
❖ The Fed is expected to pause rate hikes at Wednesday’s interest rate decision.
❖ The BoJ is widely expected to keep rates ultra-low at the policy meeting on Friday.
❖ The Federal Trade Commission has requested a court to block Microsoft’s acquisition of Activision Blizzard.
❖ JP Morgan settles class action lawsuit with Epstein victims by agreeing to pay $290m.
❖ Electric vehicle charging companies are adopting Tesla’s charging technology days after Ford and GM announced they would be adopting it.
❖ Robinhood removed 3 crypto tokens from its platform after the SEC crackdown.
❖ Binance said they would swap 750m Tether/Tron token pairs to Tether-Ether to ensure liquidity amidst loss in confidence.
❖ a16z, a major crypto investor, announced that it would be opening an office in London a few days after the US regulators probe into major crypto platforms.
❖ A heat wave is expected to hit East Asia in the near term. China, Japan, South Korea, and Taiwan are set to drive coal use to new highs which could lead to an increase in prices.
❖ Saudi Arabia’s oil production cut has had no effect on investors’ positions for the asset as the global economic slowdown has begun to overshadow the Oil market.
❖ Gold traders are awaiting the FOMC Press Conference at Wednesday’s Fed Meeting to gauge whether there will be further rate hikes toward the end of the year even if there was a pause on hikes at this meeting.