> JAPAN’S LARGEST PAYMENT NETWORK JCB PARTNERS WITH CIRCLE TO EXPLORE USDC FOR CROSS-BORDER PAYMENTS, TREASURY TRANSFERS AND MERCHANT TRANSACTIONS
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> US CPI FALLS FOR THE FIRST TIME SINCE 2020, CORE GAUGE FLAT
*US JUNE CONSUMER PRICES FALL 0.4% M/M; EST. -0.1%
*US JUNE CONSUMER PRICES RISE 3.5% Y/Y; EST. +3.8%
*US JUNE CORE CPI UNCHANGED M/M; EST. +0.2%
*US JUNE CORE CPI RISES 2.6% Y/Y; EST. +2.8%
TRADERS REDUCE WAGERS ON FED RATE INCREASE THIS MONTH
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*US JUNE CONSUMER PRICES FALL 0.4% M/M; EST. -0.1%
*US JUNE CONSUMER PRICES RISE 3.5% Y/Y; EST. +3.8%
*US JUNE CORE CPI UNCHANGED M/M; EST. +0.2%
*US JUNE CORE CPI RISES 2.6% Y/Y; EST. +2.8%
TRADERS REDUCE WAGERS ON FED RATE INCREASE THIS MONTH
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> WARSH: FED HAS ’NO TOLERANCE’ FOR PERSISTENTLY HIGH INFLATION
WARSH: UNDERLYING INFLATION IS DETERMINED BY MONETARY POLICY
FED'S CHAIR WARSH: LABOR MARKET APPEARS BROADLY STABLE
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WARSH: UNDERLYING INFLATION IS DETERMINED BY MONETARY POLICY
FED'S CHAIR WARSH: LABOR MARKET APPEARS BROADLY STABLE
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> META USED AI-POWERED SOFTWARE TO TARGET WORKERS WITH MEDICAL CONDITIONS FOR LAYOFFS, LAWSUIT CLAIMS
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> 🇺🇸 PRESIDENT TRUMP IS "VERY SERIOUS" ABOUT CHARGING SHIPS A 20% TOLL TO PASS THROUGH THE STRAIT OF HORMUZ.
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> COINBASE OPENS REGISTRATION TO USERS IN CHINA
ON JULY 14, MULTIPLE SOCIAL MEDIA USERS REPORTED THAT COINBASE HAD OPENED ACCOUNT REGISTRATION TO USERS IN CHINA. WU BLOCKCHAIN CONFIRMED THE CHANGE WITH COINBASE STAFF, WHO SAID USERS CAN NOW COMPLETE VERIFICATION USING A CHINESE NATIONAL ID AND A MAINLAND CHINA ADDRESS. PREVIOUSLY, THE PROCESS REQUIRED A CHINESE PASSPORT AND A HONG KONG ADDRESS. — LINK
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ON JULY 14, MULTIPLE SOCIAL MEDIA USERS REPORTED THAT COINBASE HAD OPENED ACCOUNT REGISTRATION TO USERS IN CHINA. WU BLOCKCHAIN CONFIRMED THE CHANGE WITH COINBASE STAFF, WHO SAID USERS CAN NOW COMPLETE VERIFICATION USING A CHINESE NATIONAL ID AND A MAINLAND CHINA ADDRESS. PREVIOUSLY, THE PROCESS REQUIRED A CHINESE PASSPORT AND A HONG KONG ADDRESS. — LINK
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> WARSH: MORTGAGES ARE HIGHER THAN THEY HAVE BEEN IN PART BECAUSE INFLATION IS ABOVE FED'S TARGET
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> WARSH: CONTAINING INFLATION WOULD BE CONSISTENT WITH LOWER LONG-TERM TREASURY YIELDS, MORE AFFORDABLE MORTGAGES
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> NVIDIA H200 CHIP SHIPMENTS TO CHINA HAVE BEGUN
A SENIOR U.S. OFFICIAL CONFIRMED THAT SHIPMENTS OF NVIDIA’S H200 AI CHIPS TO CHINA AND HONG KONG HAVE STARTED.
HOWEVER, THE NUMBER DELIVERED REMAINS “VERY FEW.”
THE U.S. COMMERCE DEPARTMENT HAD PREVIOUSLY CLEARED AROUND 10 CHINESE FIRMS TO PURCHASE NVIDIA’S SECOND-MOST POWERFUL AI CHIP.
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A SENIOR U.S. OFFICIAL CONFIRMED THAT SHIPMENTS OF NVIDIA’S H200 AI CHIPS TO CHINA AND HONG KONG HAVE STARTED.
HOWEVER, THE NUMBER DELIVERED REMAINS “VERY FEW.”
THE U.S. COMMERCE DEPARTMENT HAD PREVIOUSLY CLEARED AROUND 10 CHINESE FIRMS TO PURCHASE NVIDIA’S SECOND-MOST POWERFUL AI CHIP.
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> DOLLAR WEAKENS AS U.S. INFLATION COOLS
THE U.S. DOLLAR FELL AFTER JUNE INFLATION SLOWED MORE THAN EXPECTED, REDUCING EXPECTATIONS FOR NEAR-TERM FEDERAL RESERVE RATE HIKES.
HOWEVER, ESCALATING U.S.-IRAN TENSIONS ARE PUSHING OIL PRICES HIGHER, POTENTIALLY REVIVING INFLATION CONCERNS.
THE EURO AND POUND GAINED, WHILE THE JAPANESE YEN REMAINED NEAR 40-YEAR LOWS.
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THE U.S. DOLLAR FELL AFTER JUNE INFLATION SLOWED MORE THAN EXPECTED, REDUCING EXPECTATIONS FOR NEAR-TERM FEDERAL RESERVE RATE HIKES.
HOWEVER, ESCALATING U.S.-IRAN TENSIONS ARE PUSHING OIL PRICES HIGHER, POTENTIALLY REVIVING INFLATION CONCERNS.
THE EURO AND POUND GAINED, WHILE THE JAPANESE YEN REMAINED NEAR 40-YEAR LOWS.
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