The current inflation numbers in Spain showed that the inflation in the country jumped from 8.7 % to about 10.2 %. With double digit inflation in one of the biggest countries in the Europe, the European Central Bank will need to speed up its monetary tightening efforts and become more hawkish, if it wants to stop this metric from growing.

During the current G7 meeting, the leaders of the most advanced economies agreed on establishing "Climate Club," an effort that will follow joint rules and standards in the fight against global warming, without the spats over green tariffs. Its main goal should be establishing transparent climate mitigation policies to reduce emissions intensities.

Ukraine will receive more support in its war against the Russian invasion. British Prime Minister Boris Johnson and French President Emmanuel Macron said that this is the critical moment for the course of conflict. They believe that with their support there is an opportunity to turn the tide in the war, thus they agreed to step up their work.

The central bank of Norway has increased the benchmark deposit rate by 0.5% to 1.25%, the biggest rate hike since 2002. Until now, the Norges Bank was rather careful with the hiking. The Norges Bank was one of the first central banks to start hiking last year, however, the more aggressive approach came just now.

The fresh inflation numbers from United Kingdom are far from positive. Inflation in the country has risen yet again and in May has hit 9.1%, 40-year high. Rishi Sunak, the finance minister of Britain, has stated that the Bank of England has all the tools it needs to bring down the inflation and that the BoE will act forcefully to combat it.

Martins Kazaks, Governor of Bank of Latvia stated today that he would support a 25 basis points interest rate hike of ECB in July. He went as far as to say that he would even support half a percentage increase of interest rates in September, pressuring the ECB to start hiking as soon as possible.

Bitcoin is not the only asset that is having bad time now. The same applies for one of the biggest US indices, S&P 500, which has just ended the first half of the year down 20.6 %. This is the worst start to a year since 1962.

Copper has just sunk below 8 000 dollars a ton, the lowest price in more than 18 months. It is likely that Copper, just like other industrial metals will fall in the price in the coming days and weeks mostly due to the fears of the incoming global financial recession.

Bitcoin has lost around 56 % of its price in the past three months, which means that it has closed the worst quarter in its history. Until now, the worst quarter was the Q1 of the year 2018, when BTC lost about 50% of its price after it reached ATH. Yet, many view this as an excellent opportunity for buying and DCA.

The US Securities and Exchange Commission has rejected yet another Bitcoin spot ETF. The proposed move from Grayscale to switch Grayscale Bitcoin Trust (GBTC) to Bitcoin ETF was rejected due to failure to meet the required standard to prevent fraud and manipulation. Grayscale decided to take this decision to the court and sued SEC immediately.

According to the recent numbers, the S&P 500 is on its way to close one of its worst first halves of the year in history. With about 20 % of the value of the index erased from January till June, S&P 500 is heading to the worst close of the first half of they year since 1970. Whether the loss can go even deeper depends solely on today's close.

The current inflation numbers in Spain showed that the inflation in the country jumped from 8.7 % to about 10.2 %. With double digit inflation in one of the biggest countries in the Europe, the European Central Bank will need to speed up its monetary tightening efforts and become more hawkish, if it wants to stop this metric from growing.