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On June 18th, Suren Thiru of the Institute of Chartered Accountants in England and Wales stated that the Bank of Englands next move is more likely to be a rate cut than a rate hike. After the Bank of England kept interest rates unchanged at 3.75% on Thursday, Thiru indicated that the central bank may enter a longer policy wait-and-see period to assess geopolitical uncertainties and domestic political instability. "British monetary policy is currently at a crossroads," Thiru said. The US-Iran peace agreement has boosted market expectations for easing inflation, but if hostilities resume, "the situation could quickly shift back towards raising interest rates." However, he stated that given the still high level of global volatility, the Bank of England is unlikely to initiate a rate cut before next year.Pfizer shares fell 1.4% in pre-market trading after Chief Financial Officer Dave Denton announced his resignation.Futures Market Summary | Thursday, June 18th, CCTV News Highlights: 1. Xi Jinping replies to Xinhua News Agency veteran Zhang Liansheng, emphasizing the importance of inheriting the red gene and writing an excellent chapter on the new journey. 2. Striving to write a new chapter in Chinese-style modernization under the guidance of Xi Jinpings thought on Party building. 3. The Central Leading Group for Party Building issued a "Notice on Studying and Implementing Xi Jinpings Thought on Party Building." 4. Peoples Daily commentator article: Making a major original contribution to the development of Marxist party building theory—On studying and implementing Xi Jinpings thought on Party building. 5. Han Zheng meets with guests from Canada and Denmark. 6. Accelerating the allocation of funds for "two new" projects to continuously release policy effectiveness. 7. The first report meeting of the series of reports on "Guaranteeing and Improving Peoples Livelihood in High-Quality Development" was held in Beijing. 8. Lin Dan: Serving the residents well for life. 9. The State Council Information Office held a meeting with Chinese and foreign journalists on "Striving for the New Journey." 10. The China Theatre Association, the China Folk Literature and Art Association, and the China Calligraphers Association elected a new leadership. 11. National railway transportation for the Dragon Boat Festival holiday begins today. 12. Market supply is abundant as the Dragon Boat Festival approaches. 13. Two departments urgently allocate 100 million yuan in central natural disaster relief funds. 14. The policy dividends of the six-month island-wide customs closure in the Hainan Free Trade Port continue to be released. 15. The import and export volume of the Western Land-Sea New Corridor reached a record high in the first five months. 16. my countrys first carbon footprint database for key industrial products goes online. 17. The Datengxia Hydropower Project in Guangxi passes completion acceptance. 18. The "National Recruitment Action - Beijing Trip" special event for college graduate employment services is launched. 19. Box office revenue for films in 2026 exceeds 16.5 billion yuan. 20. The 2026 China Brand Forum is held in Xiongan. 21. The official text of the memorandum of understanding signed remotely by the US President and the Iranian President is released. The Pakistani Prime Minister announces that the US-Iran memorandum of understanding takes immediate effect. 22. Russia claims that the Russian military has made significant progress in Donetsk. 23. Palestine strongly condemns Israels settlement expansion. 24. The G7 summit concluded without a joint communiqué. 25. The Federal Reserve announced for the fourth consecutive time this year that it would maintain interest rates unchanged.On June 18th, Emma Mogford of the Premier Miton Monthly Income Fund stated that the Bank of England may not need to raise interest rates this year, following the banks decision to keep rates unchanged at 3.75% on Thursday. "Price increases later this year triggered by the Iran war are likely to be offset by weaker demand. Furthermore, wage growth is expected to be only moderate given the relatively weak labor market." The Bank of England approved the decision with a 7-2 vote, with the two policymakers favoring a 25 basis point rate hike.Mayor of Moscow, Russia: The fire at the oil refinery is basically under control.

Crypto Market Daily Highlights - ETH Extends Winning Streak to Eight

Daniel Rogers

Jan 16, 2023 10:52

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The top ten cryptocurrencies had a mixed Sunday session, with ETH bucking the trend while the larger market ended a seven-day losing streak. Profit-taking and regulatory risk contributed to a turbulent Sunday session. The crypto market cap declined by $0.881 billion to close the day at $938.70 billion. It was a mixed afternoon for the crypto top 10 on Sunday. ETH bucked the top ten trend. Notably, BTC revisited $21,000 for the second time since November 7 and the bankruptcy of FTX.

 

On Sunday, neither external market forces nor crypto market catalysts contributed to the eight-session winning streak. With the US markets closed today, profit-taking left the larger crypto market with a small loss.

 

Trading Derivatives includes a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suited for all investors, so please ensure that you fully appreciate the risks involved, and get independent advice if necessary. A Product Disclosure Statement (PDS) can be received either via our website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads as low as 0 pips and a commission rate of $3.50 per 100,000 USD traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

Regulatory risk almost certainly contributed to the decline. On Thursday, US politicians were back in the spotlight. Reportedly, House Republicans intend to form a Subcommittee to oversee the digital asset market.

 

The disclosure coincides with the SEC bringing accusations against Genesis and Gemini for the unregistered offer and sale of crypto asset securities through the Gemini Earn lending program.

 

There are currently no US economic indicators for investors to evaluate. The lack of statistics will leave the crypto market to the discretion of crypto news outlets and FOMC member talk. Regulatory noise and hawkish FOMC member rhetoric may test current buyer appetite.

 

This week, US business earnings, economic indicators, and FOMC member talk will likely affect investor sentiment, as measured by the NASDAQ Index. Bets on a 25-basis-point Fed rate hike and a decline in FTX contagion risk continue to support the crypto market.


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