๐ฎ๐ณ The Reserve Bank of India (RBI) backs crypto โcontainmentโ and keeps ban on table - Economic Times.
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OpenAI Offered US Government 5% Stake
OpenAI reportedly offered Trump's administration a 5% stake in the company to reduce political risks and "share AI benefits with society," according to Financial Times.
The stake was intended to be placed in a special fund similar to the Alaska Permanent Fund. With OpenAI valued at $852 billion, this share would be worth about $42.6 billion.
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๐บ๐ฆ NATO allies to pledge $80 billion in military aid to Ukraine.
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๐บ๐ธ SEC Chair Paul Atkins says the agency is taking "historic steps" to move U.S. markets onchain.
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๐บ๐ธ Markets are pricing in an 82.4% probability that the Fed keeps rates unchanged at its July meeting.
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๐บ๐ธ US national debt hits a record $39.4 trillion.
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Major US sheriffs have dropped their opposition to the CLARITY Act.
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Gold has surpassed U.S. government bonds to become the worldโs largest reserve asset.
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In the past 24 hours Iran has completely closed the US-Omani designated maritime corridor that was used to bypass Iranโs authority over the Strait of Hormoz.
Only a single ship used the route near Oman.
In the second image, the vessels highlighted in the yellow circle are those that initially intended to transit along the route near the Omani coast but made U-turns after receiving warnings from the Iranian Revolutionary Guards Navy, subsequently rerouting through the Iranian-controlled corridor.
๐ช @FinancialWorldUpdates
Only a single ship used the route near Oman.
In the second image, the vessels highlighted in the yellow circle are those that initially intended to transit along the route near the Omani coast but made U-turns after receiving warnings from the Iranian Revolutionary Guards Navy, subsequently rerouting through the Iranian-controlled corridor.
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Gold has surpassed U.S. government bonds to become the worldโs largest reserve asset.
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๐บ๐ธ๐ฎ๐ฑ President Trump says Israeli Prime Minister Netanyahu "knows who the boss is.".
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๐ฌ๐ง๐พ๐ช UK says a cargo ship issued distress signal after being attacked by unknown militants in near Yemen.
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Forwarded from POLITICS | FINANCE | WAR | GEOPOLITICS | NEWS
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Shipping through the Strait of Hormuz surged fourfold last week.
During the US-Israeli-Iran war, only one or two vessels daily entered or left the Gulf. By July 1, this rose to eight, testing the fragile 60-day US-Iran ceasefire.
Hapag-Lloyd confirmed four trapped vessels exited (WorldCargo news), and two Maersk vessels cleared the strait last week. "Dark voyages"โships disabling GPS to avoid trackingโrose sharply. Lloydโs List Intelligence reports 258 such transits by June 28, up from 41 in early March.
The waterway remains insecure; the International Maritime Organization states roughly 80 mines must be cleared for normal navigation. Vessels currently use alternative routes: a corridor controlled by Iran's Islamic Revolutionary Guard Corps or a southern passage hugging Oman's coastline.
Recent traffic includes oil tankers carrying pre-war cargo. Over 60 Iranian-flagged vessels benefited from a US sanctions waiver for pre-loaded oil. Exports from other Gulf producers are recovering; UAEโs ADNOC recently crossed in convoy, while Qatar and Saudi Arabia ramped up energy exports.
Shipping costs are easing: Spot charter rates dropped from $500,000 daily in late June to around $294,000. Insurance premiums fell from 7% to about 2% of a ship's value.
@PoliticFinance
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Europe's heatwave has caused a surge in air conditioner demand, exhausting stocks in countries like France and Germany.
They are urgently asking Turkish manufacturers to ship as many AC units as possible.
Turkish companies say exports are booming, and demand could reach 100,000+ units.
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โข June S&P Global Services PMI data
โข ADP Employment Change data
โข Fed Meeting Minutes
โข Initial Jobless Claims data
โข June Existing Home Sales data
โข IEA Monthly Report
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๐บ๐ธ Former President Biden's illegal immigration surge caused home prices to rise 30% and rents 20%, Federal Reserve report reveals.
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Global markets are opening the week carefully as investors prepare for a major earnings season, with AI-related stocks once again in focus.
Oil prices are under pressure after OPEC+ moved to increase supply, which could help ease inflation concerns.
At the same time, weaker U.S. jobs data has reduced expectations of an immediate Federal Reserve rate hike, while the dollar is hovering near recent lows.
So the market message is mixed:
Lower oil = good for inflation
Weaker jobs = good for rate expectations
AI earnings = the next big test
Central banks = still the main risk
Investors are not fully bearish.
But they are not relaxed either.
React with your market view:
๐ Bullish
๐ฅ Cautious
โก Volatile week ahead
๐ Bearish
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