EU inflation eases to 10%

The annual inflation rate in the Euro Area decreased back to 10% from a record high of 10.6% in October. The result exceeded market expectations by 10.4%, finally declining after several increases.

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RBA lifts interest rates by 25 bps

The Reserve Bank of Australia increased interest rates by 25 bps from 3.1% to 3.35%. The interest rates were raised for the ninth time in a row, bringing borrowing costs to a level not seen more than a decade.

Janet Yellen doesn’t see a recession

“I envision a scenario in which inflation is dropping significantly and the economy is continuing to be strong,” Treasury Secretary Janet Yellen has remarked. “Having the lowest unemployment rate in more than 50 years and creating 500,000 new jobs doesn’t seem like a recession to me,” she added.

The US jobs market strenghtens

The US jobless rate dropped to 3.4% in January 2023. This is the lowest rate since 1969 and significantly lower than the 3.6% forecast. Moreover, the jobs market was predicted to gain 185K new jobs, but it surprised by adding 517K. This is a significant increase over the 401K added on average each month in 2022.

ECB and BoE lift interest rates by 50 bps

Both the European Central Bank (ECB) and the Bank of England (BoE) increased their interest rates by 50 bps. The BoE’s interest rate is now at 4%, and the ECB’s is 3%.

Fed raises interest rates by 25 bps

The Fed raised interest rates by 25 bps to 4.75%, the highest since 2007. Policymakers said that the ongoing rate hikes should be sufficient in bringing inflation back to 2%.

Eurozone’s inflation falls to 8.5%

Inflation in the Eurozone fell more than expected. It dropped from 9.2% to 8.5%, while the forecast was 9%. The unemployment rate in the Eurozone stays at 6.6%.

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Binance donates $5 million to Turkey

Binance pledged to donate $100 in BNB tokens to every user affected by the 7.8 magnitude earthquake that happened in Turkey. This would be roughly $5 million in total, according to CZ, the CEO of Binance.

Adani’s stock up after massive turmoil

After falling approximately 75% in just a few weeks, Adani Group’s stock surged 15.28% on Tuesday. The positivity around the company was influenced by the founders prepaying nearly $1.1 billion in loans.

RBA lifts interest rates by 25 bps

The Reserve Bank of Australia increased interest rates by 25 bps from 3.1% to 3.35%. The interest rates were raised for the ninth time in a row, bringing borrowing costs to a level not seen more than a decade.

Genesis reaches a bankruptcy deal

Genesis Global Capital (GGC), Digital Currency Group, Gemini, and other creditors have come to a bankruptcy agreement to recover assets. There are over $2 billion in claims against GGC.

Janet Yellen doesn’t see a recession

“I envision a scenario in which inflation is dropping significantly and the economy is continuing to be strong,” Treasury Secretary Janet Yellen has remarked. “Having the lowest unemployment rate in more than 50 years and creating 500,000 new jobs doesn’t seem like a recession to me,” she added.

DXY jumps above 103

After almost falling to 100, the dollar index (DXY) surged above 103. This is for the first time since early January on rising hopes that the Fed will continue to hike interest rates. It was affected by the better-than-expected US jobs report.

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Stablecoins are being adopted on a global scale

Stablecoins are gaining a lot of popularity due to their notable benefits compared to traditional payment systems.
GBP/USD falls below psychological 1.20 amid USD strength
GBPUSD
-0.25%

GBP/USD falls below psychological 1.20 amid USD strength

Traders bought the USD broadly today, sending the GBP/USD pair lower.

Norwegian Cruise: Stock dilution possible due to ruined balance sheet

Norwegian Cruise Line Holdings (NCLH) was a great company until COVID-19 changed the business model dramatically. Now it poses a threat to investors.
EUR/USD touches 2-week lows ahead of Powell’s speech
EURUSD
-0.62%

EUR/USD touches 2-week lows ahead of Powell’s speech

Volatility could be highly elevated today as investors will react to Jay Powell's speech.