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On May 2, Swissquote analyst Ipek Ozkardeskaya said in a report: "Last months non-farm payrolls report unexpectedly rose, but given the recent series of weak data, we are more likely to see a weak report this time. As long as wage growth remains reasonable, this will stimulate expectations of a Fed rate cut."The U.S. non-farm payrolls and unemployment rate for April, as well as the monthly and annual average hourly earnings rates will be announced in ten minutes.On May 2, Hungarian Prime Minister Orban said in Budapest on May 2 local time that the Russian-Ukrainian conflict has caused Hungary to lose about 20 billion euros in the past three years. Now, Ukraine asks the EU to support it to maintain the size of its 1 million troops, and this part of the funds should have stayed in the EU to develop the economy. Ukraines joining the EU will lead to the bankruptcy of Hungarys economy. Orban said that the EU proposed to jointly borrow to fund Ukraine because they have realized that they can no longer rely on existing resources to support Ukraine. Now it is necessary to prevent Europe from falling into a debt vortex.Gold futures rose in relatively light trading as the dollar and U.S. Treasury yields slipped. But they fell overall this week after a sharp sell-off on Thursday. Analysts at SP Angel said in a report that ETF outflows indicate that traders and investors have taken profits after gold prices rose 21% so far this year. SP Angel said that the cooling of trade tensions is reducing the appeal of gold, while Trump announced that he does not intend to fire Powell. The focus now turns to U.S. employment data due on Friday. If the data is weaker than expected, it will boost optimism about the Federal Reserves interest rate cuts, which is a positive for non-interest-bearing gold.Riccardo Marcelli Fabiani, senior economist at Oxford Economics, said on May 2 that the rise in core inflation in the eurozone in April should not cause concern for ECB policymakers because the rise in the service sector is temporary. Core inflation rose from 2.4% to 2.7%, and service sector inflation rose from 3.5% to 3.9%, partly due to the timing of Easter. But lower oil prices and a stronger euro will pull down energy inflation, leading to lower costs for production inputs and imports. At the same time, the hit to demand will push down core inflation and accelerate the slowdown in wage growth. This anti-inflation trend means that the ECB is likely to cut interest rates at its June meeting and then keep them unchanged.

Robinhood To Buy London Based Crypto App as Part of Europe Expansion

Cory Russell

Apr 21, 2022 09:49


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The London-based fintech startup Ziglu is scheduled to be purchased by Robinhood.


Robinhood will grow into the United Kingdom and Europe thanks to Ziglu's crypto capabilities.

After listing Shiba Inu, Solana, and other assets on its platform, Robinhood has made its second significant announcement.


Robinhood sprang to popularity after the GameStop fiasco, but it has since made a reputation for itself in the cryptocurrency area with its cryptocurrency exchange Robinhood Crypto.


As a result, the corporation is now concentrating on merely capitalizing on the current momentum with its actions.

Robinhood Comes to the UK

According to CNBC, Robinhood completed the acquisition of Ziglu, a fintech company located in London that offers crypto trading services for Bitcoin and other cryptocurrencies, yesterday.


This agreement will be critical to Robinhood's efforts to extend its footprint in the United Kingdom and Europe, which the company has been eyeing for some time.


Robinhood was planning to take over these regions two years ago, but had to abandon its ambitions due to a lack of funding, claiming the need to focus on its domestic business rather than growing internationally.


This transaction will be very beneficial to the platform, which has seen a continuous fall in monthly active users in the fourth quarter of 2021, losing over 1.3 million members in only three months.


"Together with the Ziglu team, we'll seek to use the best of both businesses, finding new ways to innovate and break down barriers for clients throughout the UK and Europe," stated Vlad Tenev, CEO of Robinhood, in response to the loss of market share and the possibilities of the new arrangement.

Robinhood's Crypto Attempts

Robinhood's announcement of integrating Shiba Inu, Solana, Compound, and Polygon's tokens to Robinhood Crypto. Ziglu's acquisition is the second most major move made by Robinhood this month.


A few days later, CEO Tenev was quoted as declaring that Dogecoin may become the "Currency of the Internet," claiming that the coin's inflation rate is much lower than that of the USD (Dollar), and that it can attain that position by cutting costs and boosting the number of transactions per second.


As a result, it seems that Robinhood will continue to grow until it becomes a key crypto market participant on a global scale.

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