International Economic
US consumer confidence dips in May
US consumer confidence declined slightly in May amid worries about inflation, according to a survey released on Tuesday.
Eurozone inflation hits record 8.1% in May
Eurozone inflation hit a record 8. 1% in May as energy prices surged, according to a flash estimate released on Tuesday by Destatis, adding pressure on the European Central Bank to hike rates.
The reasons why Bitcoin and digital assets lagged behind the stock markets
Bitcoin finally showed some strength on Monday, after printing 9 red candlesticks in a row. The quintessential digital currency closed near $32,000, the highest since before the Terra collapse, and investors are wondering if digital assets are finally playing up their correlation with stock markets, as they seemed dormant. U. S. markets experienced a modest recovery last week, with stocks rising across the board. However, cryptoassets did not experience the same revival until this week, as the party continues on the trading floors.
Bitcoin at highs since before Terra debacle and aims to break $32,000
The final momentum of the stock market rally finally lifted Bitcoin (BTC), as it reached a high of almost $32,000 on Monday, according to data from CoinMarketCap, prices not seen since before the Terra debacle and the collapse of UST and LUNA. Technical analysis indicates that it should comfortably surpass this price level to continue the upside to at least $35,000.
Economic activity slows further in China in May
Economic activity slowed further in China in May, according to fresh official data released on Tuesday, with measures for both the manufacturing and non-manufacturing sectors remaining in contraction territory.
German CPI jumps past forecasts in May on food and energy
The cost-of-living in Germany jumped past forecasts last month as food price gains continued to accelerate and energy costs picked up once more.
EU may have reached agreement on partial Russian oil embargo 'in principle'
European Union leaders have reached an agreement on a partial embargo on imports Russian oil, although the deal is not expected to be finalised until in a few weeks' time, possibly in June.
Eurozone economic sentiment broadly stable in May
Eurozone economic sentiment was little changed in May, according to a survey released on Monday by the European Commission.
Bitcoin and Ethereum higher on the strong volatility of the new LUNA
The cryptocurrency market is benefiting from the return of risk appetite to the markets on Monday, after the reopening of major Chinese cities encouraged investors. Shanghai, in particular, launched a series of measures to boost its economy and to boost investment again, which is encouraging the stock markets. As for digital assets, both Bitcoin and Ethereum are leaving advances of 5%, while also noticing the shakeout of the new LUNA, which experienced strong lurches in its prices after its debut, from the hand of Terra 2.
Ukrainian President extends olive branch to Moscow
Ukraine's President held out an olive branch to the Kremlin, even as he sounded a downbeat note on the likelihood that Moscow would take it.
US trade deficit shrinks rapidly in April as inventory rebuilding slows
America's shortfall on trade with the rest of the world fell sharply last month as imports declined.
PCE inflation dips as expected in April, steady growth in incomes and spending
A key measure of inflation in the US dipped last month, even as personal incomes and spending continued growing at a steady clip.
Ethereum plummets on 'merger' doubts and drags Bitcoin down
The calm that settled in the cryptocurrency market during recent days, with the main assets consolidating the steep falls of May 11th and 12th, in the heat of the collapse of Terra and its UST and LUNA tokens, broke on Thursday. Ethereum managed to trim its declines on Friday, after coming off nearly 10% in the last 24 hours, dragging Bitcoin and other tokens to two-week lows, following news of problems on the so-called 'Beacon' chain, responsible for switching Ethereum's protocol to the less polluting proof-of-stake model.
China's industrial profits fall sharply in April amid lockdowns
China’s industrial profits fell sharply in April as Covid lockdowns took their toll, according to data released on Friday by the National Bureau of Statistics.
US first quarter GDP revised lower, but details slightly stronger
The US economy shrank at a slightly quicker pace than previously thought, revised data showed, but the underlying levels of activity and prices came in a tad better than expected.
Initial jobless claims fall to 210,000
US initial jobless claims fell by a better-than-expected 8,000 in the week ended 21 May, dropping from an unrevised print of 218,000 to 210,000, according to the Labor Department.
JP Morgan endorses Bitcoin: price will increase by 28% and is one of its preferred alternative assets
The digital assets market continues to be hesitant to make significant moves for Bitcoin´s price (BTC) or 'altcoins', as investors wait for some significant catalyst to stamp some action on digital assets. During this impasse, there is no shortage of analysts claiming that the cryptocurrency is poised to break out to the upside above $30,000. The latest to launch a bullish bet on Bitcoin´s price are analysts at JP Morgan. The global investment bank's target for the cryptocurrency is 28% above its current exchange rate (trading around $30,000).
US durable goods orders rise by less than expected in April
Orders in the US for goods made to last more than three years grew a bit less quickly than expected last month.
German economy nudges higher as sentiment steadies
The German economy strengthened marginally in the first quarter, official data showed on Wednesday.
US economic growth slows more than expected in May, PMIs show
Economic activity in the US slowed by more than expected in May, amid heightened price pressures, slowing supplier deliveries and softer demand, the results of two closely-followed surveys revealed.