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August 9th - The Reserve Bank of Australia (RBA) will announce its latest interest rate decision next Tuesday. The market widely expects the RBA to maintain the current interest rate, but its statement and forward guidance will be closely watched. Despite a slowdown in Australian inflation, the RBA remains vigilant about upside risks. The RBAs communication will have a key impact on market expectations for the remainder of the year, particularly regarding whether the next move will be a rate hike or a rate cut.HSBCs preview of the US July CPI: It is expected that several core inflation components will cool down more than expected, leading to both the overall CPI and core CPI falling short of market expectations.August 9th - The US CPI report, to be released next Wednesday, is undoubtedly the most closely watched data of the week. Economists generally expect the annual inflation rate to slow slightly, but core inflation is likely to remain high, reflecting persistent price pressures in the services and housing sectors. According to the latest data, the Federal Reserve remains cautious, emphasizing that it needs further assurance that inflation is sustainably approaching its 2% target before considering interest rate cuts.August 9th - As Typhoon Dolphin approaches, its impact on Shanghai continues to intensify, making the flood control situation severe. Mayor Gong Zheng chaired a video conference today (August 9th) to coordinate typhoon defense and response efforts, conducting further checks, deployments, and implementation of typhoon preparedness measures.According to real-time data from Lighthouse Pro, as of 12:04 PM on August 9th, the film "The Eight Immortals!" had grossed over 1.4 billion yuan.

Bitcoin falls below $19,000 as cryptos creak under rate hike risk

Skylar Shaw

Sep 20, 2022 14:27

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On Monday, cryptocurrency prices hit new lows as a result of regulatory worries and a general investor reluctance to engage in risky assets due to impending interest rate increases.


By market value, Bitcoin, the most valuable cryptocurrency, dropped almost 5% to a three-month low of $18,387.


The second-largest cryptocurrency, ethereum, lost 3% to a two-month low of $1,285 and had lost more than 10% in the previous day. The majority of the smaller tokens had larger losses.


Over the weekend, a significant update to the Ethereum blockchain—which supports the ether token—called the Merge changed how transactions are handled and reduced energy consumption.


The value of the token has decreased amid rumors that comments made last week by Gary Gensler, chairman of the U.S. Securities and Exchange Commission, suggested the new structure would draw further regulation. The upgrades' surrounding trades were likewise unwound.


The regulatory outlook is guesswork, according to Matthew Dibb, COO of Singapore's Stack Funds cryptocurrency platform.


Since the Merge, the markets have shed a lot of their excitement, he said. Given the uneasy global background, he said, "It's truly been a sell-the-news sort of event," and predicted that ether will test $950 in the near future.


"From a basic and technological standpoint, the current situation does not appear promising. There isn't a clear quick positive trigger that will support these markets and inject a ton of fresh cash and liquidity, in our opinion.

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