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Ukrainian Air Force: Russian aircraft launched guided bombs into southern Ukraine.Scotiabank said that given that the Bank of Englands chief economist, Peel, was one of the two members who supported keeping interest rates unchanged, and the Bank of Englands statement kept its policy guidance unchanged, that is, to maintain a "gradual and cautious" pace of policy easing, the threshold for the Bank of England to cut interest rates again in June has been greatly raised. We still expect the Bank of England to maintain the rhythm of once a quarterly rate cut for the time being, and choose to pause rate cuts in June and resume rate cuts in August. CPI, employment and GDP data released in the next two weeks may inject some vitality into the expectation of a rate cut in June. The markets pricing of a rate cut for this meeting has been significantly reduced from about 15 basis points (60% probability) yesterday to only 5 basis points (20% probability).On May 9th, the Transport Department of the Hong Kong Special Administrative Region announced that it has updated the trial license for autonomous vehicles in accordance with the Road Traffic (Autonomous Driving Vehicles) Regulations and expanded the testing area of Robot Run autonomous driving vehicles in Hong Kong.The governor of Russias Belgorod Oblast said that a Ukrainian drone attacked a local government building, but there were no casualties so far.May 9, Capital Economics economist Paul Dales said that the trade agreement with the United States will not greatly stimulate British economic growth. Trump said on Thursday that the United States has reached an agreement with the United Kingdom on a framework that will include cutting tariffs on British steel and cars in exchange for Britain buying Boeing products and allowing American farmers more access to the UK. But the agreement is limited, and the UK will not be greatly affected by Trumps tariffs compared to other economies.

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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