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Canada has announced that the meeting between the Canadian Minister in charge of Canada-U.S. trade relations and U.S. Trade Representative Greer has been postponed to 11:30 a.m. ET today (11:30 p.m. Beijing time).On August 21, the Munich-based Institute for Economic Research stated that nearly a quarter of German companies are facing a shortage of skilled workers. The institutes survey showed that in July, 23.2% of surveyed companies reported a lack of qualified skilled workers, up from 21.1% in April, but below the long-term average of 31.7%. By industry, the shortage of skilled workers has intensified significantly in the telecommunications sector, with the proportion of companies reporting this problem surging from 16.3% in April to 31.1% in July; in the consulting and auditing sector, this proportion rose from 52.4% to 64.7%; and in the manufacturing sector, the proportion of companies reporting a shortage of skilled workers was 18.7%, an increase of 4.5 percentage points from April.On August 21, an Axios analysis showed that oil prices are increasingly less responsive to Trumps social media posts about the war with Iran. Oil analyst Ben Cahill stated that in the initial weeks of the war, there was an "information vacuum" and high uncertainty regarding US policy and objectives. The market "overreacted" to a large number of posts. "For months, the market has been ignoring posts on social media because they simply dont reflect reality," he said. Many of Trumps statements about the situation in the Strait of Hormuz, policy, and war objectives have "zero correlation" with actual traffic volume in the strait. Cahill stated, "In the initial months, I thought the White House was quite successful in controlling the narrative and keeping oil prices low. But thats no longer the case."According to the Islamic Republic of Iran Broadcasting (IRIB), an Iranian naval commander stated that enemies will not be allowed to approach Iranian territory.India has announced a 625 billion rupee mobile phone incentive program.

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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