Markets Look for Fed Pause as Australia Raises Rates
Markets are anticipating the Federal Reserve to pause rate hikes next week and will be closely monitoring economic data due to a blackout on Fed speakers. The Australian central bank raised rates on Tuesday, causing the Aussie dollar to rise.
Dollar falls below 2-1/2 month high on soft US services data, rate pause expected at Fed meeting
The US dollar has fallen from its 2-1/2-month highs due to weak US services data, leading to expectations of a rate pause at the Federal Reserve's meeting next week. The Reserve Bank of Australia's policy decision is also being closely watched, with analysts and investors divided on whether the central bank will hike or hold.
JPMorgan Leverages Blockchain for Dollar Trades, Cites Strong Bitcoin Demand
JPMorgan has partnered with six Indian banks to settle interbank dollar transactions using blockchain technology on its Onyx platform. This pilot project aims to enable 24/7 transaction settlement, which is much faster than the traditional system that takes a few hours and is not available during weekends and public holidays. JPMorgan also predicts a surge in Bitcoin demand due to the upcoming halving event and the increasing price of gold, which is considered a safe haven asset. JPMorgan CEO Jamie Dimon expects a pause in interest rate hikes by the Federal Reserve but warns of potential harsh impacts on the market.
Asian Markets Extend Global Rally, Bitcoin Trades Sideways as Investors Watch Central Bank Meetings
Asian stock markets continued their global rally on Monday morning, with analysts predicting that the Federal Reserve will pause its rate hike this month. The price of crude oil also rose after Saudi Arabia pledged significant output cuts.
Federal Reserve Expected to Provide Guidance for Bitcoin and Ethereum in June 2023, Possible Rate Hike Pause and Price Predictions Revealed
The Federal Reserve is set to offer further guidance on Bitcoin and Ethereum in June 2023, with a potential pause in rate hikes if inflation remains low.
Federal Reserve Issues Consent Order to Silvergate Bank for Self-Liquidation Plan
The Federal Reserve Board has issued a consent order to Silvergate Bank and its parent company, as the bank plans to wind down operations and liquidate.
Analysts Warn a US Debt Deal Could Bring Pain to Crypto Market
Some analysts are warning that a potential deal to raise the US government's $31.4 trillion debt limit may bring pain to the crypto market, which has benefited from fears of government default and the Federal Reserve's continued rate hikes.
Fed Reveals 722 Banks Reported Unrealized Losses Over 50% of Capital as Concerns Over US Banking Crisis Grow
The U.S. Federal Reserve has revealed in a board presentation by the Division of Supervision and Regulation that 722 banks reported unrealized losses exceeding 50% of their capital at the end of the third quarter of 2022. The presentation, released to the public in April, is dated Feb. 14. It highlights the impact of raising interest rates on certain banks and the Fed’s supervisory approach to address issues at these banks.
Fed Chair Warns of 'Uncertain and Adverse' Consequences of US Debt Default — 'We'd Be in Uncharted Territory'
Federal Reserve Chair Jerome Powell has warned of the potential consequences of a U.S. debt default. “We’d be in uncharted territory and the consequences on the U.S. economy could be highly uncertain and adverse,” he said this week, adding:
Federal Reserve Raises Interest Rate by 25bps, Insists ‘US Banking System Is Sound and Resilient’
The U.S. Federal Reserve, in conjunction with the Federal Open Market Committee (FOMC), announced on Wednesday that the central bank would raise the federal funds rate by 25 basis points (bps), as was widely expected by the market. This marks the tenth consecutive occasion in which the Fed has raised interest rates since the initial 25bps increase in March 2022.
