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New York gold futures surged 4.00% intraday, currently trading at $5286.10 per ounce.Eurozone money markets currently estimate a 25% probability of the European Central Bank cutting interest rates by July, compared to 15% on Tuesday.1. Bank of America: The Federal Reserve will cut interest rates twice in 2026, in June and July respectively. 2. Goldman Sachs: Expects the Federal Reserve to implement two rate cuts this year, with the first cut in June. 3. Morgan Stanley: Expects the Federal Reserve to cut interest rates by 25 basis points each in June and September. 4. Barclays: Expects the Federal Reserve to cut interest rates by 25 basis points each in June and December this year. 5. EY Bordrin: Expects the Federal Reserve to cut interest rates by a total of 50 basis points this year, but not until the second half of the year. 6. JPMorgan Chase: No longer expects the Federal Reserve to cut interest rates in 2026; the next action is expected to be a 25 basis point rate hike in the third quarter of 2027. 7. KBC: The next rate cut may not come until March, by 25 basis points. A further 25 basis point cut may be made in the second quarter to reach the neutral interest rate level. 8. Oxford Economics: The Federal Reserve will maintain its policy unchanged until June. A decline in inflation will allow the Federal Reserve to lower interest rates sooner if the labor market weakens further. 9. ING: The baseline forecast is for the Fed to cut rates in March and June, but the apparent risk now is that this pace could be delayed by three months overall. The Feds "dual mandate" will face more pressing pressure to achieve a rate cut in March. 10. ANZ: A pause in rate cuts in January was appropriate, but a prolonged pause is unnecessary. They forecast the FOMC to cut rates by 25 basis points each in March and June. 11. Wells Fargo: Given the two months of economic data to be released before the March meeting, rate cuts could come earlier, in March and June. The risk to their forecast leans towards a delay in the timing of rate cuts.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.3 occurred at 15:27 on January 28 near Sunan County, Zhangye City, Gansu Province (38.93 degrees north latitude, 98.22 degrees east longitude). The final result is subject to the official rapid report.According to the latest data from the Fujairah Oil Industrial Zone in the UAE, as of the week ending January 26, 2026, total refined product inventories at the Port of Fujairah were 23.369 million barrels, an increase of 2.012 million barrels from the previous week. Specifically, light distillate inventories increased by 887,000 barrels to 8.529 million barrels, middle distillate inventories decreased by 133,000 barrels to 3.405 million barrels, and heavy residual fuel oil inventories increased by 1.258 million barrels to 11.435 million barrels.

Investor Hope for a Favorable Court Ruling Delivers XRP Price Support

Alice Wang

Aug 16, 2022 14:49

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XRP decreased on Monday by 0.13%. XRP fell by 0.63% on Sunday and finished the day at $0.3751.


As the day got off to a bullish start, XRP climbed to an early high of $0.3848. XRP declined to a low point in the late morning of $0.3660 after failing to surpass the First Major Resistance Level (R1) at $0.3871.


Before recovering in the late afternoon to close the day at $0.3751, XRP breached the First Major Support Level (S1) at $0.3690.


Updates on the current SEC v. Ripple lawsuit offered little assistance, while Chinese economic indices led to another session of declines.

Ripple momentum prior to the Hinman Docs Court Decision

In the continuing dispute with the SEC, Ripple obtained another victory. Judge Netburn granted Ripple's request on Monday for non-party subpoenas to be issued in order to verify seven recordings of public statements made by SEC officials.


Despite the fact that Bill Hinman was a former SEC Director, the SEC has yet to confirm or deny if he is the person in the video. The seven films in question include Bill Hinman's comments.


If it is confirmed that one of the seven is Bill Hinman, the Ripple defense team may have another avenue to attack Hinman and his 2018 address, which is now the focus of the case. Bitcoin (BTC) and Ethereum (ETH), according to the former SEC Director of the Division of Corporation Finance, are not securities.


Even though Ripple won, the decision had had a little effect on the price of XRP as investors awaited a more significant decision.


The SEC objected to a July Court decision that rejected its effort to rely on the attorney-client privilege to protect records relating to the William Hinman speech. The SEC objected on July 23, so a ruling might happen at any moment.