Investment Learning

  • August 19, 2024

Fed Expected to Cut Rates in September Amid Market Anticipation

According to Odaily, market expectations for a Federal Reserve rate cut next month are growing stronger, with the Fed likely to meet these expectations. Wall Street veteran Peter Schiff has indicated that a rate cut in September is anticipated, primarily because the market is now counting on it. This expectation is cited as the reason for the rebound in U.S. stocks after a sell-off on Monday. Given that the possibility of a September rate cut has already been factored in by the market, Federal Reserve Chairman Jerome Powell has little reason not to deliver, as he consistently aims to meet market expectations and avoid surprises.

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  • August 19, 2024

Analyst Predicts Limited Decline for US Dollar Amid Fed Rate Expectations

According to Odaily, Swiss bank analyst Ipek Ozkardeskaya has stated that the current decline of the US dollar is likely to be limited. This is because the Federal Reserve is not expected to cut interest rates as significantly as the market anticipates. Currently, the US dollar index has fallen to a seven-and-a-half-month low. Ozkardeskaya noted that market expectations for the Federal Reserve's September meeting and potential rate cuts for the remainder of the year are still too high. As a result, there is a possibility for the US dollar to rebound. She also mentioned that the potential for the euro and the British pound to rise against the US dollar should be limited.

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  • August 19, 2024

Bearish dollar momentum building; sterling hits one-month high

The U.S. dollar fell Monday ahead of the release of minutes from the Federal Reserve's July policy meeting and Chair Jerome Powell's upcoming speech at Jackson Hole later this week. The minutes, due on Wednesday, and Powell's speech on Friday are likely to be the main drivers of currency movement for the week, and traders expect a dovish tone to emerge. “The signs are subtle, but bearish dollar momentum is starting to build,” said analysts at ING, in a note.

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  • August 19, 2024

U.S. Treasury Plans Regulatory Changes for Cryptocurrency Transactions

According to PANews, the U.S. Department of the Treasury (DOT) released its semi-annual regulatory agenda on August 16, outlining upcoming federal efforts to create a fair regulatory environment for both cryptocurrencies and traditional fiat currencies. The Federal Reserve Board (FRS) and the Financial Crimes Enforcement Network (FinCEN) are planning to amend the definition of 'currency' under the Bank Secrecy Act (BSA) to enhance reporting requirements for financial institutions handling domestic and cross-border cryptocurrency transactions.The agenda states that these agencies aim to ensure that the revised proposal will apply to transactions involving convertible virtual currencies, which are mediums of exchange like cryptocurrencies that hold equivalent value to money or can substitute for money but lack legal tender status. Additionally, the proposal will extend reporting requirements to digital assets with legal tender status, including central bank digital currencies (CBDCs). The final notice for the proposed rulemaking is currently scheduled for release in September 2025, pending approval.

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  • August 18, 2024

ASIC Reports Over 600 Crypto Scams Shut Down in Broader Crackdown

According to Odaily, the Australian Securities and Investments Commission (ASIC) revealed last Sunday that it coordinated the removal of over 600 cryptocurrency scams last year as part of a broader effort to combat online investment fraud. ASIC stated that it has helped dismantle 5,530 fake investment platform scams, 1,065 phishing scam hyperlinks, and 615 crypto investment scams. These scams, which were often spread through fake news articles and deepfake videos of local public figures, resulted in an estimated $1.3 billion in losses last year.The regulatory body emphasized the importance of consumer vigilance regarding social media hyperlinks promoting online trading and cryptocurrency investments. ASIC noted that approximately 20 websites are shut down daily, as scammers continue to adapt and find new ways to lure victims. While there was a surge in crypto-related scams around the Bitcoin halving event in April, ASIC's data indicates that the number of such scams is decreasing month by month.

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