๐ฎ๐ณ Indiaโs FIU orders crypto exchanges to share OTC trade data above $10,000 (โน9.44 lakh)
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Global Rate Cut Cycle Ends as Central Banks Balance Hikes and Cuts
In May, 26 central banks hiked rates and 26 cut rates among 52 worldwide, ending two years of more cuts than hikes each month.
The last balance was in early 2021 before three years of restrictive policy. The gap peaked mid-2022, with 28 more hikes than cuts.
Last week, the European Central Bank raised rates by 25 basis points to 2.25%, its first hike since September 2023. On Tuesday, the Bank of Japan raised rates by 25 basis points to 1.0%, the highest since 1995.
These moves signal the start of a global tightening cycle.
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Forwarded from POLITICS | FINANCE | WAR | GEOPOLITICS | NEWS
โฝ TODAYโS WORLD CUP GAMES
๐ต๐น Portugal vs Uzbekistan ๐บ๐ฟ
๐ด๓ ง๓ ข๓ ฅ๓ ฎ๓ ง๓ ฟ England vs Ghana ๐ฌ๐ญ
๐ต๐ฆ Panama vs Croatia ๐ญ๐ท
๐จ๐ด Colombia vs DR Congo ๐จ๐ฉ
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๐ต๐น Portugal vs Uzbekistan ๐บ๐ฟ
๐ 12:00 โ Kansas City time (UTCโ5)
๐ Kansas City, USA
๐ด๓ ง๓ ข๓ ฅ๓ ฎ๓ ง๓ ฟ England vs Ghana ๐ฌ๐ญ
๐ 15:00 โ Boston time (UTCโ4)
๐ Foxborough, USA
๐ต๐ฆ Panama vs Croatia ๐ญ๐ท
๐ 19:00 โ Miami time (UTCโ4)
๐ Miami, USA
๐จ๐ด Colombia vs DR Congo ๐จ๐ฉ
๐ 20:00 โ Monterrey time (UTCโ6)
๐ Monterrey, Mexico
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The Pentagon is requesting $80B from Congress to fund the US war on Iran, nearly triple the $29B estimated last month.
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Trump says he has agreed to allow the Strait of Hormuz to remain open, with no further naval blockade.
He also claims 19M barrels of oil flowed through Hormuz yesterday, an all-time record.
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SPX: $7472
NASDAQ: $26166
DXY: $101
Gold: $4135
Silver: $62
Bitcoin: $62186
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Negative correlation between US stocks and government bond yields is rapidly increasing, indicating rising sensitivity of stocks to rate hike expectations.
Traders are actively betting on a Fed rate hike this year, according to BBG.
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Iran and Oman have released a joint statement confirming their intention to establish a joint administration over the Strait of Hormuz
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The Ethereum Foundation Announces Reorganisation, Cutting 20% Of Its Workforce.
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Gold fell 1.5% and silver dropped more than 5% as rising fears of Fed rate hikes pressured precious metals.
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Donald Trump Jr. held a private meeting with Indian billionaire Gautam Adani before his US fraud and bribery charges were dropped, Bloomberg reports.
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๐บ๐ธ US House Committee schedules crypto Clarity Act hearing for July 17.
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President Trump says he has instructed the DOJ to investigate the โbig oil companiesโ for failing to pass lower crude prices on to consumers at the pump.
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Gold falls below its 200-day moving average by the largest margin since 2022.
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Financial World Updates
๐บ๐ธ Trump warns that gas prices must start dropping more quickly than what he is seeing now.
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๐ฎ๐ณ Indiaโs central bank is reportedly selling U.S. dollars through state-run banks to support the rupee, according to traders.
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๐ฏ๐ต SBI Group and Startale launched JPYSC, Japan's first trust bank-backed yen stablecoin.
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Gulf states are negotiating a new security pact with Iran, moving away from the US umbrella, according to the Qatari PM.
A separate Israeli report claims Qatar has quietly expanded economic and military cooperation with Iran since 2018, and a formal regional security framework excluding Washington would mark a major shift in the Gulf's stance.
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Gold falls below its 200-day moving average
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US Dollar Index (DXY) continues strengthening against global currencies after months of consolidation at a long-term support level.
Dollar strength usually signals "risk-off" sentiment in risky assets like stocks and crypto.
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