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ECB Executive Board member Cipollone: We are watching for signs of inflation expectations potentially decoupling.ECB Executive Board member Cipollone: No matter how clever and prudent the monetary and fiscal responses to energy supply shocks are designed, they are costly.Intel (INTC.O) shares rose 5.8% in pre-market trading.The Hang Seng Index closed up 315.17 points, or 1.22%, at 26,213.78 on Wednesday, May 6; the Hang Seng Tech Index closed up 39.52 points, or 0.8%, at 4,969.2; the H-share Index closed up 70.26 points, or 0.8%, at 8,800.75; and the Red Chip Index closed up 80.95 points, or 1.84%, at 4,487.37.May 6th - According to data released by the European Central Bank (ECB) on Wednesday, wage growth in the Eurozone is expected to slow this year, despite rising energy prices due to the Middle East conflict. The ECBs wage tracker shows wages are projected to rise by 2.6% this year, following a 3% increase in 2025. This figure for 2026 remains unchanged from the March forecast. ECB officials have emphasized that the outcome of wage negotiations is a key indicator for determining whether rising energy prices will trigger a sustained rise in inflation above its 2% target. ECB President Christine Lagarde stated that the ECB will closely monitor the data and conduct in-depth analysis of the wage agreement and collective bargaining agreement to be negotiated soon. The ECB kept its key interest rate unchanged last week but hinted that it might raise rates at its June meeting if the upward momentum in inflation since the start of the conflict in late February continues. The tracker indicates that there are currently no clear signs that the wage agreement will exacerbate inflation this year.

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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