According to PANews, the U.S. Consumer Price Index (CPI) for September recorded an annual rate of 2.4%, marking the sixth consecutive month of decline. This figure represents the lowest level since February 2021 but is slightly above the market expectation of 2.3%.
According to Odaily, the release of the US Consumer Price Index (CPI) data has led to significant market volatility. Spot gold experienced a short-term price swing of $17, while the US Dollar Index (DXY) saw a short-term fluctuation of nearly 50 points, briefly reaching the 103 mark.
According to BlockBeats, the number of initial jobless claims in the United States for the week ending October 5 reached 258,000. This figure exceeded the expected 230,000 claims and the previous week's count of 225,000.
Spikes in fuel demand due to Hurricane Milton and concerns over potential supply disruptions in the Middle East have pushed oil prices up.
According to Odaily, Mt.Gox's official announcement today revealed that the bankruptcy trustee has nearly completed compensating creditors who have fulfilled the necessary procedures and encountered no issues during the compensation process. However, many creditors have yet to complete the required procedures and thus have not received their repayments. Additionally, various problems during the compensation process have temporarily prevented a significant number of creditors from receiving their payments.To ensure fair compensation for these creditors, the bankruptcy trustee, with court approval, has extended the compensation deadline from October 31, 2024 (Japan Standard Time) to October 31, 2025 (Japan Standard Time).
-- Most Asian currencies firmed slightly on Thursday, recovering a measure of recent losses, while the dollar steadied near a seven-week peak ahead of key consumer...
Phil Orlando, Federated Hermes chief equity strategist, joins Market Domination Overtime to discuss the state of US consumers. Orlando notes that there is a divergence between upper- and lower-income consumers. Upper-end consumers are holding up "fine" amid inflationary pressures, allowing the Consumer Discretionary sector (XLY) to perform well. However, he explains, lower-end consumers have been "spending less and saving more" as their household budgets get squeezed by high prices. "We are now three months into the back-to-school season. We know what June, July, and August numbers are. We'll find out what the September numbers were later this month. But on the basis of the three months of back-to-school that we have so far, retail sales are up 2% year over year. All right, that doesn't sound too bad. They're positive, but they're also the weakest back-to-school numbers that we've seen in 15 years. You'd have to go back to the depths of the recession during the global financial crisis to find worse back-to-school numbers," Orlando adds. Thus, he notes that the back-to-school retail sales data shows that lower-income Americans are struggling. "That's going to manifest itself into what we believe is slower GDP growth going into the back-end of the year," Orlando concludes. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here. This post was written by Melanie Riehl.
According to BlockBeats, the United States' September unadjusted Consumer Price Index (CPI) year-over-year data is scheduled to be released tonight at 20:30 UTC+8.The expected year-over-year CPI for September is projected to be 2.3%.
According to Cointelegraph, married couples in South Korea can now divide cryptocurrency holdings during divorce proceedings. South Korean law firm IPG Legal clarified that both tangible and intangible assets, including cryptocurrencies, can be divided during a divorce under South Korean law. The firm explained that under Article 839-2 of the Korean Civil Act, either spouse may request a division of marital assets accumulated during the marriage upon divorce in Korea. This follows a 2018 ruling by South Korea’s Supreme Court, which confirmed that cryptocurrency and virtual assets are considered property due to their economic value as intangible assets.As a result, any cryptocurrencies acquired during the marriage can be considered part of the Korean marital estate. Spouses who are aware of their partner’s crypto exchange wallets can have courts issue a “fact-finding investigation” to ascertain the value of their holdings. Tracking crypto investments is easier than traditional cash, considering that blockchain technology preserves all transactions and does not allow external factors to modify or delete entries. Bank withdrawal records and other forensic investigations also allow for the discovery of unknown sources of crypto holdings. Partners can choose to either cash out the crypto holdings before splitting or share the tokens directly.The growing use of cryptocurrency in finance has led to more divorce cases involving digital assets worldwide. For instance, during a New York couple’s divorce proceedings, the wife appointed a forensic accountant to uncover her husband’s hidden Bitcoin (BTC) holdings. The wife, Sarita, found that her soon-to-be ex-husband failed to declare 12 BTC — worth roughly $500,000 — stored in an undisclosed crypto wallet. She expressed her surprise, noting that it was never a thought in her mind as they were not discussing or making investments together.
According to Odaily, analysts at UniCredit Bank have indicated in a report that the upcoming release of the US Consumer Price Index (CPI) data could be a significant test for the foreign exchange market, particularly for the US dollar. This follows stronger-than-expected non-farm payroll data released last Friday. Persistent price stickiness might lead investors to reconsider the number of future rate cuts by the Federal Reserve, thereby supporting the dollar. If this scenario unfolds, the EUR/USD pair could fall below 1.09, and the USD/JPY pair might surpass 150. Conversely, a decline in the overall CPI could result in a slight drop in the dollar, but it is unlikely to push the EUR/USD pair above 1.10.