The British economy has stopped growing.

The growth of the British economy in July almost stopped due to the rapid spread of coronavirus mutations delta after releasing coronavirus measures. According to the statistical office, gross domestic product (GDP) increased by only 0.1 percent compared to June.

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EU economy rises 0.3% in Q3

The economy of the Eurozone grew by 0.3% in the Q3 2022, which was a bit more than the initial estimate of 0.2%. This is 0.5% less than in the previous quarter as the economy grew by 0.8% in Q2.

NFP results above expectations

In November, the US economy surprised everyone by adding 263K jobs, more than the anticipated 200K jobs. It’s the lowest job gain since April 2021, which shows that the job market is returning to normal after COVID. Still, it’s a sign of a healthy market, since it’s more than the average of 150K–200K jobs created per month before the recession.

Biden’s debt relief plan denied

The federal appeals court in the United States denied Biden’s $400 billion request to reinstate his student debt relief plan. Around 26 million Americans have requested loan forgiveness, and the US Department of Education has already approved 16 million requests.

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.

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WTI oil rises after touching 1-year low

WTI crude oil jumped by 4% to $75.5, bouncing back from a one-year low of $71.8 from yesterday. Optimism about the Chinese economy reopening drives the commodity higher after it has been trending downward for several months.

BoC raises interest rates to 4.25%

The Bank of Canada (BoC) increased its key rate by 50 basis points, from 3.75% to 4.25%, in its final meeting of 2022. This rate hike brought borrowing prices to their highest level since 2008, up 4% since March. Policymakers affirmed that they would keep their tightening policy in the near future.

Tether created new stablecoin

Tether (USDT) as the largest stablecoin provider is expanding on Tron network by adding a Chinese Yuan. Bitfinex plans to be the first to offer Chinese Yuan stablecoin (CNHT) on its crypto exchange.

EU economy rises 0.3% in Q3

The economy of the Eurozone grew by 0.3% in the Q3 2022, which was a bit more than the initial estimate of 0.2%. This is 0.5% less than in the previous quarter as the economy grew by 0.8% in Q2.

WTI crude oil drops further

WTI crude oil fell almost 2% to $73, the lowest level reached since December 2021. Worries about weak global demand keep the bearish momentum going. The US and Europe, in particular, are seeing a drop in manufacturing activity because of tighter financial conditions.

RBI lifts interest rate by 35 bps

The Reserve Bank of India (RBI) raised its key interest rate by 35 basis points, from 5.9% to 6.25%. This was the fifth rate hike in a row, and it was widely anticipated. As a result of continuous rate hikes, inflation slowed to 6.7% in October, down from a high of 7.4% in September.

News

Bitcoin payment app Strike expands to Africa
BTC
0%

Bitcoin payment app Strike expands to Africa

Strike and Bitnob will collaborate by using the Lightning Network to empower African nations with a better payment system.
USD/JPY at critical technical crossroads
USDJPY
-0.34%

USD/JPY at critical technical crossroads

The greenback is trying to recover from the recent selling pressure. However, it stays below previous lows, implying the weakness of bulls.
Does the crude oil bloodbath have an end?
WTIOIL
-2.36%

Does the crude oil bloodbath have an end?

The inventories data from the US shows weaker demand for gasoline and crude oil. Black gold sinks under the $73 price tag.
Markets full of fear as data suggests recession is close
SP500
-0.19%

Markets full of fear as data suggests recession is close

US dollar faces selling on all fronts as data suggests there may be a recession coming soon. Markets all in red, except gold, which holds its value.