German inflation is sky-high

The rate of consumer price inflation in Germany increased to 10.0% year-over-year in September 2022. Inflation surpassed market predictions of 9.4% and marked the highest level since 1951 when it peaked at roughly 11.0%.

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Indonesia plans to launch digital rupiah

Indonesia is about to launch its own central bank digital currency (CBDC) in 2023. Bank Indonesia has said that the first phases of CBDC will be for business-to-business transactions and that retail transactions will be added later.

India starts the test of digital rupee

The Reserve Bank of India will start testing its central bank digital currency (CBDC) on December 1st. The testing will run in Mumbai, New Delhi, Bengaluru and Bhubaneswar. Some of the major banks, such as the State Bank of India, ICICI Bank, Yes Bank, and IDFC First Bank, will participate.

EU economic sentiment jumps

After going down for eight months, the EU economic sentiment indicator went up by one point in November 2022 to reach 93.7. The result slightly exceeded forecasts of 93.5, but it remained close to its lowest level in two years. Rising interest rates, high inflation, and a worsening energy crisis during the winter all put a damper on sentiment.

BoJ will test digital yen in 2023 💡

The Bank of Japan (BoJ) is collaborating with three unnamed major banks to try out digital yen in 2023. They will focus on any problems that could arise during deposits and withdrawals. The experiment will also test if the CBDC can operate during natural disasters and in areas without internet access.

US initial jobless claims rise

The number of Americans submitting new unemployment compensation claims increased by 17,000 to 240,000 in November. This is significantly more than the predicted 225,000, and the highest in 3 months as the labor market is stressed by the current economic situation.

Donald Trump back on Twitter

Elon Musk ran a poll on whether Donald Trump’s Twitter account should be reinstated. After the poll showed yes, Donald Trump is back on the platform. Moreover, countless others whose accounts were suspended before Musk’s takeover are back.

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Porsche will launch NFT project 🏎

Porsche plans to launch its first Web3 project, which will consist of 7,500 NFTs. The NFT collection is based on the classic Porsche 911 and will launch in January 2023. Each NFT will be built as a unique 3D asset in Unreal Engine 5.

Indonesia plans to launch digital rupiah

Indonesia is about to launch its own central bank digital currency (CBDC) in 2023. Bank Indonesia has said that the first phases of CBDC will be for business-to-business transactions and that retail transactions will be added later.

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.

WTI oil moves higher 📈

WTI crude oil increased toward $80 after a decline in US crude inventory by 8 million barrels last week. An upcoming OPEC+ meeting sparked fears of further output restrictions, as OPEC+ is supposed to meet on Dec. 4th to decide on output strategy. Rumors that the cartel will reduce output further in response to market weakness are gaining momentum.

Australia’s inflation decreases to 6.9%

Australia’s annual inflation rate fell to 6.9% in October 2022. It decreased from September’s record high of 7.3% and fell short of expectations of 7.4% due to a lower increase in food prices.

Phantom expands its reach

One of the largest Solana-based wallets Phantom is expanding to other blockchains. The wallet will expand to Polygon and Ethereum, threatning the market leader Metamask. Phantom reportedly now has more than 3 million users.

News

US bond yields rise after a barrage of US data

Bond prices fell again, pushing yields higher as investors await today's Powell speech.
More than 215 million people can officially pay with crypto
BTC
2.27%

More than 215 million people can officially pay with crypto

While Brazil has allowed cryptocurrencies as a form of payment, they haven't been accepted as legal tender just yet.

Rolls-Royce successfully tests its hydrogen jet engine

Rolls-Royce and easyJet have achieved a new aviation milestone with the world's first hydrogen-fuelled modern jet engine.
A good day for oil, not so good for stocks and dollar
EURUSD
-0.1%

A good day for oil, not so good for stocks and dollar

Markets saw oil gain second day in a row caused by OPEC+ speculations. Stocks were mostly down as production may halt again in China.