Australia Q1 CPI grows more than expected, stays well above RBA target
-- Australian consumer price index inflation grew more than expected in the first quarter of 2024, remaining above the Reserve Bank of Australia’s target range and...
-- Australian consumer price index inflation grew more than expected in the first quarter of 2024, remaining above the Reserve Bank of Australia’s target range and...
Bank of America (BofA) forecasted that the USD/CNY exchange rate is expected to increase, projecting a rise to 7.35 by the second quarter of 2024 and reaching a peak of 7.45 by the...
According to Foresight News, Brazil's digital bank, Nubank, has announced its support for cryptocurrency deposits and withdrawals. The bank's customers can now use the Nubank application to send and receive Bitcoin, Ethereum, and Solana. Nubank has also revealed plans to extend support to more tokens in the near future. This move by Nubank is a significant step towards the integration of cryptocurrencies into mainstream banking services in Brazil. It also reflects the growing acceptance of digital currencies worldwide. However, the bank has not yet specified which additional tokens it plans to support in the future. This announcement by Nubank is expected to encourage other financial institutions to consider integrating cryptocurrency transactions into their services.
UBS adjusted its forecast for the USD/JPY currency pair, citing the strength of the US dollar as a key factor. The firm increased its quarter-end predictions for the pair to...
UBS revised its forecast for the USD/PLN currency pair, citing recent changes in the Federal Reserve's interest rate outlook and escalating tensions in the Middle East. The Swiss...
Bank of America reported a bullish sentiment toward the US dollar among investors following a series of meetings. The bank noted that the combination of Federal Reserve repricing...
On Tuesday, Bank of America (BoA) highlighted the possibility of foreign exchange (FX) intervention by Japan's Ministry of Finance (MoF) as the USD/JPY currency pair approaches the...
On Tuesday, Bank of America (BofA) analysts suggested that there might be a limit to how much the U.S. dollar (USD) can appreciate against the Canadian dollar (CAD), despite recent...
- The U.S. dollar steadied in early European trading Tuesday, while a bounce in European services activity data in April helped the euro. At 05:25 ET (09:25 GMT), the...
According to CryptoPotato, Ripple has challenged the United States Securities and Exchange Commission's (SEC) proposed $2 billion fine related to XRP sales. The company argues that the majority of transactions were legal and informed, suggesting a maximum penalty of $10 million. This case is moving towards a crucial trial that could significantly affect XRP's price and the broader cryptocurrency market. The legal dispute between Ripple and the SEC is intensifying, with both parties taking numerous actions. The regulator proposed a $2 billion fine on Ripple about a month ago, accusing the company of XRP sales violations. Ripple's management team, including CEO Brad Garlinghouse and CLO Stuart Alderoty, strongly disagreed with the proposal, accusing the SEC of making false and misleading statements. Alderoty recently disclosed that Ripple has filed its opposition to the SEC's proposal, expressing confidence that the magistrates will handle the final remedies phase fairly. The company provided several key reasons why the penalty should not exceed $10 million. Firstly, Ripple argued that there are no allegations of deceiving or misleading individuals and entities who purchased XRP years ago. The company stated that these entities were fully informed about the transactions they were entering and did so in their own financial interests. Secondly, Ripple maintained that most of its XRP transactions were legal and did not act with scienter. The company also argued that it did not cause significant financial losses and that the SEC cannot prove otherwise. Ripple concluded its opposition by stating that the SEC's suggestion that Ripple's total assets warrant a massive fine is erroneous, as the SEC regularly imposes far smaller fines to deter misconduct by the world's largest corporations. Ripple's response came just before the start of the final phase of the lawsuit between the company and the US SEC, which will determine the outcome of the lengthy legal battle. The trial is scheduled to begin today (April 23), and some believe Ripple enters with an advantage, having secured three partial court victories last year. The case's resolution could significantly impact XRP's price, potentially triggering a bull run if Ripple decisively wins. Conversely, a loss for Ripple could have negative implications for the entire cryptocurrency industry and lead to the implementation of stricter regulations.