Canada’s annual inflation rate dropped to 5.2% from the previous month’s 5.9%. This is the lowest reading since January 2022 and falls short of the market’s projection of 5.4%. Core inflation decreased as well, from 5% to 4.7%.

The Big Tech layoffs continue, now with Amazon. The company is reportedly firing 9,000 people, according to Andy Jassy’s memo to staff.

The annual inflation rate in the Euro Area dropped as expected from 8.6% to 8.5%. The core CPI grew from 5.3% to 5.6%, also exactly in line with market estimates.

The ECB delivered another rate hike of 50 basis points (bps), from 3% to 3.5%. This is the highest since 2008, a 350 bps increase in the last 9 months.

The annual inflation level in Italy fell from 10% to 9.1%. Australians’ inflation slightly dropped from 5.1% to 5%. Mongolia is a similar case, easing from 12.3% to 12.2%. Inflation in Somalia decreased from 5.6% to 5.4%.

Executive Chairman of BlackRock, Laurence Fink, warned that the banking crisis could get far beyond the collapse of Silicon Valley Bank. More banks, in his opinion, will go under, and inflation will likely hover around 3.5–4% for quite some time.

The euro strengthened against all fiat currencies, supporting the ongoing trends. EUR/AUD jumped 1.5%, while EUR/JPY and EUR/GBP are up 1.2%.

Texas introduced a bill that should protect Bitcoin miners, holders, and developers. The bill explains how Bitcoin made several technological breakthroughs, including blockchain and distributed ledger.

After a banking bloodbath for the past few weeks, First Republic Bank (FRC) gained 30%. The stock jumped from $12 to $16, but is still down from $120 three weeks ago.

Canada’s annual inflation rate dropped to 5.2% from the previous month’s 5.9%. This is the lowest reading since January 2022 and falls short of the market’s projection of 5.4%. Core inflation decreased as well, from 5% to 4.7%.

After Balaji made a bet that Bitcoin would hit $1 million, Strike CEO, Jack Mallers, joined him. This is due to fears of hyperinflation in the US. In the meantime, the fear and greed index reached 16-month highs, bringing euphoria to the crypto market.

Florida Governor Ron DeSantis called for a ban on central bank digital currencies (CBDCs). He pointed out some negative effects, including higher surveillance over citizens or a cap on CBDC holdings.