NVIDIA (NVDA) is making a series of new record highs on the upcoming 10-for-1 stock split, which will make its shares more affordable to a wider range of investors, including the ones who make small trades, and increase liquidity.
According to Odaily, a survey of 116 economists revealed that 74 of them predict the Federal Reserve will make its first interest rate cut of 25 basis points in September. Only five economists forecast a rate cut in July, a decrease from 11 in a May survey. No one predicted a rate cut in June. Oscar Munoz, Chief US Macro Strategist at TD Securities, stated that the Federal Reserve is in a favorable position considering the current monetary policy's constraints on the economy. Out of the 116 respondents, 68 predicted two rate cuts this year, roughly consistent with last month's survey. With persistent high inflation, particularly the PCE price index, and extremely low unemployment rates, the possibility of an early rate cut is slim. The median forecast shows that inflation indicators such as CPI, core CPI, PCE, and core PCE are not expected to reach 2% until at least 2026. The unemployment rate is expected to remain close to the current 3.9% until at least 2027, indicating that the labor market will continue to be tight.
The odds of an autumn Fed rate cut are changing following the latest jobs data.
According to Foresight News, the Central Bank of the United Arab Emirates (CBUAE) board has approved the issuance of stablecoin regulation and licensing rules. These rules clarify the issuance, licensing, and regulation of payment tokens supported by the UAE Dirham (AED). Legal experts in the UAE have stated that payment tokens must be backed by the UAE Dirham (AED) and cannot be linked to other currencies, digital assets, or algorithms. Merchants and service providers can only accept tokens supported by AED and cannot accept other virtual assets. This move by the CBUAE is seen as a significant step towards regulating the use of digital currencies in the country, ensuring that they are backed by a stable and recognized currency. The new rules aim to provide clarity and security for businesses and individuals using these payment tokens, while also protecting the integrity of the UAE's financial system.
According to BlockBeats, the US ADP employment figures for May recorded an increase of 152,000, falling short of the anticipated 175,000. This marks the smallest increase since January of this year. The data indicates a slower growth in the job market, which could potentially impact the economic recovery process. Further details or implications of this development are yet to be disclosed.
Innovative ETF provider recognized for their industry leadership and creativityCHICAGO, June 05, 2024 (GLOBE NEWSWIRE) -- Amplify ETFs, a leading provider of innovative exchange-traded funds, is proud to announce its nominations in four categories at this year's With Intelligence Mutual Fund and ETF Awards. Amplify funds are being recognized in the following categories: ETF Innovation of the Year: Amplify Samsung SOFR ETF (SOF) - the first ETF aimed to deliver the closely-watched Secured Overnig
- While total gold purchases by central banks were similar to those seen in March, sales halted in April, leading to significant net increases in bank reserves, according to Krishan Gopaul, Senior Analyst for Europe, the Middle East, and Africa at the World Gold Council.
-- Most Asian currencies weakened on Monday as the dollar steadied from a tumble on Friday after weaker-than-expected payrolls data saw markets ramp up bets on...
-- China’s services sector grew at a steady pace in April as expected, a private survey showed on Monday, as new business activity grew and as export demand also...
Binance is doubling down on its commitment to enhancing security in the crypto space. Coming off the heels of the positive symbiosis during the earlier introductory session, Binance's Financial Crime Compliance (FCC) team successfully conducted an advanced training session for officers of the International Criminal Police Organization (INTERPOL) on May 29, 2024. The one-off training used practical case studies stemming from the FCC team's investigations, thereby showcasing specific methods employed in cryptocurrency crime analysis. This initiative is aimed at strengthening the understanding and efficiency of INTERPOL officers in handling cryptocurrency crimes and Web3 cyber policing. Horest Au Yeung, an INTERPOL representative, underscored the value of the collaboration, quoting, "The real-world case studies shared by Binance’s FCC team offered new perspectives on cryptocurrency investigations. This strategic partnership can intensify our capabilities and knowledge pool." Jarek Jakubcek, Binance's Head of Law Enforcement Training, expressed his satisfaction with the ongoing collaboration between Binance and INTERPOL. He highlighted the necessity and impact of collective action and mutual knowledge sharing in tackling cybersecurity threats in the crypto milieu. In his words, "Our collaboration with INTERPOL is not just about joining forces - it's inherently about stepping up to the challenge. We remain committed to working closely with global law enforcement agencies in the fight against criminal activity." In 2023 alone, the Binance FCC team held 120 workshops and training sessions for global cybercrime specialists and processed over 58,000 requests from law enforcement agencies. This collaboration with INTERPOL further signals Binance's commitment to combating cybercrime in the ever-evolving digital finance landscape.