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Japanese Chief Cabinet Secretary Minoru Kihara: I hope the Bank of Japan will work closely with the government to formulate appropriate monetary policies to achieve the 2% inflation target in a stable and sustainable manner, and that inflation should not be driven by cost-push factors but by wage growth.On March 19th, the Reserve Bank of Australia (RBA) warned on Thursday that the Middle East conflict could trigger a severe international shock, but that Australian banks are well-positioned to support the economy should a significant downturn occur. In its semi-annual Financial Stability Review, the RBA listed a range of global vulnerabilities, including a potential collapse in financial markets, cyberattacks, and the spread of unconventional policies. This implies that the risk of a significant adverse shock to the domestic economy has increased in recent weeks. The RBA stated, "The Middle East conflict could trigger a larger shock, thereby disrupting the global economy, particularly given the continued supply disruptions in oil and other commodity markets… Given the significant increase in leverage and concentration in key global asset markets in recent years under low-risk premiums, this increases the likelihood of disorderly asset repricing in the event of further adverse developments." The RBA also stated that investments related to artificial intelligence could face a significant sell-off risk if productivity fails to improve as expected.On March 19, the Russian Ministry of Defense reported that on March 18, Russian forces conducted strikes in 145 regions against targets serving Ukrainian energy and transportation infrastructure, as well as temporary deployments of Ukrainian troops and foreign mercenaries, shooting down three precision-guided bombs and 316 drones. Additionally, Russian forces seized control of a settlement in the Donetsk region. On the same day, the General Staff of the Ukrainian Armed Forces reported that Ukrainian forces were thwarting Russian attempts to advance deeper into Ukraine, inflicting significant personnel and equipment losses in multiple locations. The Ukrainian Air Force, missile units, and artillery attacked three Russian personnel assembly areas and three drone control points, shooting down over 1,100 Russian drones.March 19th, Futures News: Positive news in the oil market boosted bullish sentiment in the fuel oil market. Some downstream users moderately replenished their inventories at lower prices, while refineries were reluctant to sell at low prices, significantly pushing up the negotiation point. With major refineries in northern China about to shut down, the tightening supply of low-sulfur residue oil/asphalt is expected to further support the market. Fuel oil negotiations are expected to maintain a slight upward trend today.A chart summarizing the overnight price movements of international spot platinum and palladium.

Crypto derivatives volumes surge to $3.12 trillion in July

Skylar Shaw

Aug 12, 2022 14:53

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According to researcher CryptoCompare, trade in cryptocurrency derivatives on centralized exchanges increased to $3.12 trillion in July, up 13% month over month, as cryptocurrency values begin to rebound from the recent market crisis.


According to CryptoCompare, the derivatives market now accounts for 69% of all crypto transactions, up from 66% in June, and helped drive total crypto volumes on exchanges to $4.51 trillion in July.


On July 29, derivatives exchanges transacted up to $245 billion, which is 9.7% greater than the $223 billion top daily high for June.


Spot cryptocurrency trade, however, dipped to $1.39 trillion in July, the lowest level since December 2020 and a monthly fall of 1.3%, according to CryptoCompare.


In May and June, the price of cryptocurrencies fell precipitously as investors fled riskier investments due to concerns about soaring inflation and Federal Reserve interest rate rises. Several cryptocurrency organizations have slashed staff after a significant pair of tokens collapsed, and other cryptocurrency lenders have frozen client withdrawals.


With bitcoin rising 17% in July, prices have somewhat recovered. It is still a long way from its record high of $69,000 in November, which it reached at roughly $24,300.


Since there is no U.S. Federal Reserve meeting in August, CryptoCompare said, "the jump in futures trading volume signals an increase in speculative activity as traders feel there is opportunity for more upside in current rally."


According to CryptoCompare, traders are also making predictions on the impending Ethereum merge, which is a network update anticipated for September.


Since its $880 low in June, ether has increased to over $1,900.


According to CryptoCompare, BinanceUSD, a stablecoin released by the cryptocurrency exchange Binance, gained popularity in July as spot volumes for transactions between bitcoin and BinanceUSD for the first time surpassed those between bitcoin and dollars.


With a 54% market share, Binance continued to dominate the exchange landscape, while Atom Asset Exchange (AAX), which saw its volume increase by 26.5% in July, moved into second place.


Trading volumes more than half in the second quarter of 2022, according to a data released on Tuesday by American exchange Coinbase.

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