Markets down due to Covid-19 fears?

Most markets are in red numbers. This is probably due to emergence of fears connected to the new mutation of Covid-19 virus that was found in Africa. According to the news, the variant B.1.1.529 is not only spreading at a much higher pace, but can also be more lethal. Thus, investors and traders should exercise caution in the markets.

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UK inflation hit a new 40-year high

In July 2022, the annual inflation rate in the UK reached 10.1 percent, a new 40-year high that was far higher than analysts had predicted. Additionally, there is growing evidence that the Bank of England will continue its aggressive tightening policy to limit rising prices.

US Builder confidence declines

Builder confidence in the US declined for the eighth consecutive month in August. This is due to the housing affordability issue still being exacerbated by high interest rates, persistent supply chain issues, and high home prices.

US inflation drops to 8.5%

The US inflation dropped to 8.5% for the first time since April 2022. It was expected to fall from 9.1% to 8.7%; however, surprising data revealed even a bigger drop.

Turkey’s inflation continues to skyrocket

In July 2022, Turkey's annual producer inflation increased to 144.61 percent from 138.31 percent the month before. It was the highest inflation since records began in 1983, reflecting a significant depreciation of the Turkish lira.

Zimbabwe’s inflation grew to 256.9%

The annual inflation rate in Zimbabwe increased to 256.9 percent in July 2022 from 191.6 percent the previous month, marking the highest level since February 2021. Strong inflationary pressures have been present in the nation, which are being blamed on the fluctuating exchange rate and external factors like the conflict in Ukraine.

Pelosi visiting Taiwan may cause conflict

China's Foreign Ministry declared that if Nancy Pelosi, the speaker of the US House of Representatives, visits Taiwan, Beijing would not quietly sit by. China will "surely take forceful actions" to preserve its sovereignty and territorial integrity, the ministry reaffirmed, adding that the visit will have "severe implications."

More market movers

UK inflation hit a new 40-year high

In July 2022, the annual inflation rate in the UK reached 10.1 percent, a new 40-year high that was far higher than analysts had predicted. Additionally, there is growing evidence that the Bank of England will continue its aggressive tightening policy to limit rising prices.

BTC mining companies lost over $1 billion

In the second quarter, the three biggest US publicly traded Bitcoin mining companies (Core Scientific, Marathon Digital Holdings, and Riot Blockchain) suffered losses of more than $1 billion. This comes as a result of the massive decline in crypto prices.

Michael Burry sold his entire portfolio

Michael Burry, a well-known hedge fund manager who predicted the 2008 crash, sold most of his stocks beside one. He invested in the private prison operator GEO Group, buying over 500,000 shares of the company.

Alphabet enters blockchain & crypto space

Alphabet, the parent company of Google, is slowly entering the blockchain space. Over $1.5 billion has reportedly been invested by Alphabet in four blockchain and cryptocurrency companies. Alphabet has made investments in Voltage, the Digital Currency Group, Dapper Labs, Fireblocks, and more.

Walmart stock is up by 5%

Walmart stock is up by more than 5% due to the company's business stabilization after surging inflation. Walmart's CFO, John David Rainey, sees changes in consumer behavior due to high inflation. He thinks these problems will persist throughout 2022 but is optimistic about the year 2023.

PayPal integrated more crypto services

PayPal has finished integrating cryptocurrency services completely. The platform now allows users to buy, sell, and transfer BTC, BCH, ETH, and LTC via PayPal. Users can also choose cryptocurrency at checkout for qualified purchases.

News

Norway’s state fund reports a loss of $173,1 billion

Norway’s state fund reports a loss of $173,1 billion

The Government Pension Fund of Norway has the largest half-year loss in its 26-year history, losing $173,1 billion from January to June.
BHP achieved record free cash flow of $24.3 billion

BHP achieved record free cash flow of $24.3 billion

Australian mining company BHP Group experienced strong profit growth at almost all levels in the past financial year.
Weekly macro report – the battle is not over

Weekly macro report – the battle is not over

In our macro report, we analyze current inflation expectations and their implications. We also analyzed the previous rally and found the key driver.
Bitcoin at crossroads: Where does it go from here?

Bitcoin at crossroads: Where does it go from here?

The bear market stopped for a while, and BTC was able to jump from $17.5k to $25k. Now BTC is at crossroads, and the next move is questionable.