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Cryptocurrency Daily Roundup - Jun. 13
Cryptocurrencies are extending their downward trend Wednesday morning and the top cryptocurrency Bitcoin went below $6,500. The cryptocurrency market cap also fell below $300 billion. Meanwhile, Ethereum Classic surged on news of it being considered for listing on Coinbase. Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.
U.S. Producer Prices Climb More Than Expected Amid Jump In Energy Prices
Reflecting a sharp jump in energy prices, the Labor Department released a report on Wednesday showing a bigger than expected increase in U.S. producer prices in the month of May. The Labor Department said its producer price index for final demand climbed by 0.5 percent in May after inching up by 0.1 percent in April.
UK Inflation Steady At 2.4%
UK inflation remained stable at its highest level in more than a year in May on fuel prices, data from the Office for National Statistics revealed Wednesday. Consumer price inflation held steady at 2.4 percent, the lowest since March 2017, and in line with expectations. Month-on-month, consumer prices gained 0.4 percent in May, matching economists' expectations.
Ethereum Classic Jumps After Coinbase Unveils Listing Plan
Ethereum Classic, a fork of Ethereum, surged after the US-based crypto exchange Coinbase revealed plans to support it across its platform over the coming months. The altcoin, trading with the symbol ETC, surged nearly 25 percent on Monday on the news of listing on Coinbase.
New Zealand Food Prices Unchanged In May
Food prices in New Zealand were steady on month on an unadjusted basis in May, Statistics New Zealand said on Wednesday.
Cryptocurrency Daily Roundup - Jun. 12
Bitcoin and its peers remained in the red Tuesday morning, after the top cryptocurrency sank to a two-month low a day earlier. Market sentiment was hurt by the news of a hack at a South Korean crypto exchange and rising regulatory probe in the US. Here is wrap of the main news from the cryptocurrency and blockchain world over the past 24 hours.
U.S. Consumer Price Growth Accelerates To Six-Year High In May
A report released by the Labor Department on Tuesday showed another modest increase in consumer prices in the U.S. in the month of May. The Labor Department said its consumer price index rose by 0.2 percent in May, matching the increase seen in April as well as economist estimates.
Volkswagen & IOTA To Show Software Over-The-Air Proof Of Concept At CEBIT 2018
Volkswagen, the German car manufacturing giant, and the IOTA Foundation are set to demonstrate at CEBIT 2018 on Tuesday, a proof of concept of how the trusted transfer of software over-the-air to vehicles can be securely documented using the latter's Tangle distributed ledger technology. CEBIT 2018 is being held in Hannover Fairground, Germany, from June 11-15.
U.S. Business Inventories Rise In Line With Estimates In April
Business inventories in the U.S. increased in line with economist estimates in the month of April, according to a report released by the Commerce Department on Thursday. The Commerce Department said business inventories rose by 0.3 percent in April following a revised 0.1 percent dip in March.
Cryptocurrency Daily Roundup - Jun. 14
Bitcoin and its peers extended their slide from the past couple of days Thursday morning. The top cryptocurrency briefly went above the crucial mark of $6,500, but failed to hold on to the gains. Sentiment soured after some negative remarks on Bitcoin from the Ripple CEO and a damaging result of a study surfaced that said the altcoin Tether was used to manipulate the price of Bitcoin in 2017.
U.S. Import And Export Prices Both Climb 0.6% In May, More Than Expected
Import and export prices in the U.S. both increased by more than anticipated in the month of May, the Labor Department revealed in a report released on Thursday.
U.S. Retail Sales Growth Far Exceeds Estimates In May
Reflecting strong sales growth throughout much of the sector, the Commerce Department released a report on Thursday showing a much bigger than expected increase in U.S. retail sales in the month of May. The Commerce Department said retail sales jumped by 0.8 percent in May after climbing by an upwardly revised 0.4 percent in April.
U.S. Weekly Jobless Claims Unexpectedly Edge Lower
A report released by the Labor Department on Thursday showed an unexpected decrease in first-time claims for U.S. unemployment benefits in the week ended June 9th. The report said initial jobless claims edged down to 218,000, a decrease of 4,000 from the previous week's unrevised level of 222,000.
ECB Unveils QE Exit Plan Hoping To End Bond Buys In December
The European Central Bank plans to start exiting its massive quantitative easing by the end of this year, despite strong headwinds clouding the outlook for the single currency economy. The bank also tweaked its guidance on interest rates, suggesting that they could remain at their present level at least till the summer of 2019 and beyond, if necessary.
UK Retail Sales Expand On Warm Weather, Royal Wedding
UK retail sales grew more than expected in May as warm weather and royal wedding boosted consumer spending. Retail sales volume including auto fuel, grew 1.3 percent month-on-month, following April's revised 1.8 percent increase, figures from the Office for National Statistics revealed Thursday. This was the second consecutive rise and much bigger than the expected 0.5 percent.
China Retains Borrowing Cost; Industrial Output Growth Eases
China's central bank kept its short-term borrowing costs unchanged after the U.S. Federal Reserve decided to hike its rate for the second time this year. Major economic indicators suggested a slowdown in economic activity in May as lending curbs weigh on industrial activity. The People's Bank of China, on Thursday, maintained the 7-day reverse repo at 2.55 percent.
Australia Jobless Rate Eases To 5.4% In May
The unemployment rate in Australia came in at a seasonally adjusted 5.4 percent in May, the Australian Bureau of Statistics said on Thursday.
Japan May Trade Deficit 578.321 Billion Yen
Japan posed a merchandise trade shortfall of 578.321 billion yen in May, the Ministry of Finance said on Monday.
New Zealand May Credit Card Spending Jumps 0.5%
Overall credit card spending in May climbed a seasonally adjusted 0.5 percent on month in May, Statistics New Zealand said.
Cryptocurrency Daily Roundup - Jun. 11
Bitcoin and altcoins took a beating Sunday on news that a relatively small cryptocurrency exchange in South Korea was hacked. Concerns over probes in Bitcoin exchanges being conducted by US government agencies also impacted market sentiment. Cryptocurrency market capitalization shrunk and fell below $300 billion for the first time since the middle of April.
US Regulators Seek Trading Data From Bitcoin Exchanges: Report
Investigators from the US government, who are probing allegations of manipulation in Bitcoin market pricing, have sought comprehensive trading data from Bitcoin exchanges, the Wall Street Journal reported, citing people familiar with the matter.
Crypto Weekly - Jun. 15
Bitcoin and its peers began the week in the red hurt by the news that a relatively small cryptocurrency exchange in South Korea was hacked. However, the top cryptocurrency and altcoins rallied Thursday after William Hinman, SEC director for corporate finance, said that Bitcoin and Ether are not securities. Bitcoin climbed back above $6,500.
U.S. Consumer Sentiment Improves More Than Expected In June
A report released by the University of Michigan on Friday showed a much bigger than expected improvement in U.S. consumer sentiment in the month of June. The report said the preliminary reading on the consumer sentiment index for June came in at 99.3 compared to the final May reading of 98.0.
Cryptocurrencies Rally After SEC Official Says Bitcoin And Ether Not Securities
Cryptocurrencies strongly gained Thursday after a top SEC official said Bitcoin and Ether, the two leading cryptocurrencies in that order, cannot be treated as securities, but some initial coin offerings could be. When an asset is offered and sold in a way that causes investors to have a reasonable expectation of profits based on the efforts of others, it can be a security, William Hinman said.
Cryptocurrency Daily Roundup - Jun. 15
Cryptocurrencies were firmly in the green Friday morning, extending their gains from Thursday, when they rallied after a top official of the US financial market watchdog said Bitcoin and Ether are not securities. Here is wrap of the main news from the cryptocurrency and blockchain world over the past 24 hours.
U.S. Industrial Production Unexpectedly Edges Lower In May
With a drop in manufacturing output more than offsetting jumps in mining and utilities output, the Federal Reserve released a report on Friday unexpectedly showing a modest decrease in U.S. industrial production in the month of May. The Fed said industrial production edged down by 0.1 percent.
Global Watchdog Mulls Binding Rules For Crypto Exchanges
The Paris-based Financial Action Task Force (FATF), a global watchdog fighting financial crime is planning to frame binding rules to govern cryptocurrency exchanges, Reuters reported, citing a Japanese government official familiar with the matter.
Growth In New York Manufacturing Activity Unexpectedly Accelerates In June
Growth in New York manufacturing activity unexpectedly accelerated in the month of June, according to a report released by the Federal Reserve Bank of New York on Friday. The New York Fed said its general business conditions index climbed to 25.0 in June from 20.1 in May.
Bank Of Japan Retains Stimulus; Lowers Inflation Outlook
Bank of Japan maintained its monetary stimulus and lowered its inflation forecast, even as other major central banks resorted to tightening this week. Governor Haruhiko Kuroda and his board members decided by an 8-1 majority vote to hold its target of raising the amount of outstanding JGB holdings at an annual pace of about JPY 80 trillion.
European Economics Preview: Eurozone Inflation, Trade Data Due
Final consumer prices and foreign trade from euro area are due on Friday, headlining a light day for the European economic news. At 2.00 am ET, the European Automobile Manufacturers Association is slated to publish passenger car sales data for May.
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