Traders see nearly 1-in-3 chance of half-point Fed rate increase in March after PCE data
The Federal Reserve’s recent release of the January Personal Consumption Expenditures (PCE) inflation data has caused a stir among traders of fed funds futures. The data has led to an increase in the likelihood of a half-a-percentage-point rate increase by the Federal Reserve in March, rising from 27% a day ago to 32.9%. If this […]
United States CFTC Gold NC Net Positions increased to $160.3K from previous $157.7K
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Will Full Blocks Destroy Bitcoin? Saylor Argues with Digital Scarcity
The question of whether full blocks can destroy the Bitcoin network has been a hot topic of discussion among crypto enthusiasts and experts alike. Michael Saylor, the chairman of MicroStrategy Inc., recently weighed in on the matter, arguing that Bitcoin ensures digital scarcity by holding asset supply and transaction bandwidth constant over time. He further […]
Real estates services stocks slump as 10-year yield climbs to multi-month highs
Shares of real estate services companies dropped on Friday, despite better-than-expected new home sales data. The strong data sent 10-year Treasury yields to 3 1/2-month highs, causing the stock prices of many real estate companies to fall. Redfin Corp. saw a 6.63% decrease, while Zillow Group Inc. dropped 2.65% and ZG fell 2.57%. RE/MAX Holdings […]
XAU/USD under pressure as rates go up – Commerzbank
Gold is facing headwinds from several sides at once, and economists at Commerzbank are reporting that prospects of higher rates are set to weigh on the yellow metal. In the last five days of trading, gold ETFs have seen increased outflows of 14.7 tons, which equates to nearly three tons per day. The world’s largest […]
Whale sells 1,010 NFTs in 48 hours in ‘largest NFT dump ever’
Non-fungible tokens (NFTs) have been gaining traction in the digital art world, with the latest example of Whale Jeffrey Hwang — also known as Machi Big Brother — making headlines. According to data from Nansen, Machi has dumped 1,010 tokens for a total of 11,680 Ether (ETH) or $18.6 million in the space of 48 […]
Ford extends electric F-150 production halt
Ford Motor Company (F) announced on Friday that it would be extending the production halt for its electric pickup truck, the F-150 Lightning, by an additional week. This comes after a battery fire during pre-delivery quality checks led to the halt. The company said that the supplier, SK, is now back to producing high-quality cells, […]
USD/JPY climbs to fresh 2023-high above 136.00
USD/JPY gathered bullish momentum and climbed above 136.00 on Friday, with the pair on track to post its highest weekly close since early December. The data from the US showed that PCE inflation rose at a stronger pace than expected in January, fuelling the US Dollar rally and pushing the US Dollar Index above 105.00. […]
Stocks end sharply lower, book weekly losses after hot PCE inflation reading
On Friday, stocks closed sharply lower, resulting in major indexes experiencing big weekly losses. The cause of this downturn was the Personal Consumption Expenditures Price Index (PCEPI) for January, which came in higher than expected. This news confirms the Federal Reserve’s (Fed) expectations that they will raise interest rates in order to control inflation. The […]
Jump Crypto Attack “Reverse” Hacker To Recover 120,000 Stolen ETH
Jump Crypto recently partnered with MakerDao’s Oasis eco-product to attack an upgradable Oasis contract, transferring collateral and debt from the attacker’s vault to its vault, thereby obtaining the number of money stolen from the Wormhole hacker vault. Oasis has received an order from the High Court of England and Wales to recover assets from the […]