Cryptocurrency Live News & Updates : Aptos Labs and Jump Crypto Introduce Shelby Network
25 Jun 2025 | 01:55:10 AM IST
Aptos Labs and Jump Crypto have launched 'Shelby,' a decentralized hot storage network aimed at providing cloud-grade infrastructure for web3 applications. Aptos Labs and Jump Crypto have unveiled 'Shelby,' a decentralized hot storage network designed to enhance data accessibility for web3 applications, addressing the limitations of current blockchain infrastructures. This initiative aims to facilitate real-time applications such as AI and streaming. Meanwhile, Synaptogenix has made strides in the AI sector by acquiring TAO, partnering with BitGo for asset management. Unicoin Inc. has also expanded its portfolio by acquiring a majority stake in Diamond Lake Minerals, focusing on digital assets and security tokens. In the payments landscape, Mastercard is enhancing its stablecoin offerings through partnerships with Paxos, Fiserv, and PayPal, aiming to integrate stablecoins into everyday transactions. This reflects a growing trend of institutional adoption of stablecoins, especially as regulatory frameworks develop. Lastly, Fed Chair Jerome Powell has reiterated a cautious approach to monetary policy, indicating that the economy's current state allows for patience before any rate adjustments. Together, these developments highlight the dynamic shifts in the cryptocurrency and financial sectors. Show more
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Business Standard
7 hours ago
- Business Standard
Powell, Lagarde weigh Trump's impact as global policy risks deepen
The global economy's concussion from five months of Donald Trump's presidency is likely to feature when five of the world's leading central bank chiefs discuss monetary policy in public on Tuesday. From tariff-related trade ructions to oil-price gyrations caused by Middle East hostilities, the question of how to handle the fallout from White House decisions may loom large as Federal Reserve chief Jerome Powell speaks on a panel with peers from the euro zone, Japan, South Korea and the UK. The high-powered gathering at the European Central Bank's annual retreat in Portugal will be the first time that its president, Christine Lagarde, has shared a stage for a public discussion with her US counterpart since the same event in 2024. Back then, when they spoke alongside former Brazilian central bank chief Roberto Campos Neto, their discourse morphed into something resembling a group therapy session on the trials of setting interest rates at times of political stress — a premonition, in its own way, of the turbulence to come. One year on, and at the halfway point of 2025, global policy is almost paralyzed by the need to navigate risks posed both to inflation and growth in the wake of Trump's actions — a challenge highlighted by the Bank for International Settlements in a report on Sunday. Such a trade-off is faced by all the central bank chiefs who will speak on the panel in the hilltop resort of Sintra. Powell insisted on Tuesday that the Fed is in no rush to change rates, and earlier this month the Bank of England left borrowing costs on hold too. What Bloomberg Economics Says: 'Quickening core inflation and slowing spending will keep the Fed uneasy, fueling debate about the appropriate number of rate cuts this year.' The ECB itself, having just delivered a reduction, isn't ready to do any more for now, and the Bank of Japan is widely expected to keep its benchmark unaltered at its July 31 meeting. The Bank of Korea is insisting on acting cautiously too. In a podcast before this week's retreat, ECB Chief Economist Philip Lane emphasized the panel as the highlight of the whole gathering, whose theme of 'Adapting to Change' seems something of an understatement. 'You do need to step back — rather than just talk about 'what are we going to do in July or September?' — to look at the underlying forces,' he said, before predicting that the central bank chiefs will deliver 'a very lively session.' Elsewhere, US jobs, Chinese business surveys and euro-zone inflation numbers will be among the highlights. Click here for what happened last week, and below is our wrap of what's coming up in the global economy. US and Canada Following fresh figures on Friday that showed American consumers are becoming somewhat fatigued, the US jobs report for June will offer clues about the strength of the labor market. Economists forecast employers added 113,000 jobs during the month, the fewest in four months yet still consistent with healthy labor demand. The Bureau of Labor Statistics report is due Thursday, a day earlier than usual because of the Independence Day holiday. It's also forecast to show the unemployment rate crept up to 4.3%. For a Federal Reserve awaiting more clarity on the potential inflationary impact from tariffs, any pronounced deterioration in the labor market would likely lead to more pressure on officials to lower interest rates. So far, there have been only scattered signs of cracks in the job market, including the highest number of recurring claims for jobless benefits since late 2021. A Labor Department report on Tuesday is expected to show little change in May job openings from a month earlier. Canadian goods trade data for May will probably show a continued sharp decline in US exports, with shipments to other countries rising but not offsetting the loss of access to the American market. The first payments of Canada's digital services tax are due Monday, hitting major US tech firms with a 3% levy on their revenue from Canadian users above C$20 million. Trump cited the tax as the reason for the US ending trade talks with Canada on Friday. Asia The week in Asia features a slew of PMI reports that will shed light on how regional economies are coping with elevated US tariffs. China gets a pair of PMI releases, with the official gauge Monday expected to show that manufacturing activity remained contractionary for a third straight month in June as persistent deflation on top of trade tensions weighed on activity. The next day sees the release of PMI figures for South Korea, Malaysia, the Philippines, Indonesia, Thailand, Vietnam, Taiwan and China's Caixin gauge. The BOJ's Tankan survey, also on Tuesday, is forecast to show that large companies plan to boost capital investment by 10% this fiscal year. Business sentiment among large manufacturers is expected to stay relatively upbeat, albeit at a lower level, while the gauge for non-manufacturers is seen staying close to the 34-year high set in the previous period. May trade reports are due during the week from Australia, Indonesia, Thailand and Sri Lanka, while South Korea reports those figures for June. South Korea also publishes consumer price statistics for June that may keep the Bank of Korea on track for another rate cut. Indonesia June CPI is also due. Industrial output figures from South Korea, India and Japan, and Japanese household spending data will bookend the week. Europe, Middle East, Africa Inflation numbers will draw attention in the euro zone. Data on Monday may show consumer-price growth picked up in Germany and Italy, though not enough to worry the ECB. For the region as a whole, economists anticipate an outcome of 2% the following day, exactly at the goal targeted by policymakers. Other than price reports, clues on how the region's manufacturing sector is faring amid Trump's tariff squeeze will also emerge. German factory orders, along with French and Spanish industrial production, will be published on Friday. Aside from its Sintra seminars, the ECB itself will offer plenty of other news. The results of its strategy review are due on Monday, followed by the institution's own measure of inflation expectations the next day. On Thursday, an account of its June policy meeting will be released, revealing more on the decision to cut rates. Beyond Sintra, ECB officials will be out in force at another economic gathering later in the week in Aix-en-Provence, in southern France. On Monday, the Swiss National Bank will reveal how much foreign-exchange intervention it carried out during the first quarter. Switzerland's latest inflation numbers are scheduled for Thursday and may also draw interest from traders focused on the franc. Economists anticipate that consumer prices fell from a year earlier for a second month in June. In the UK, a full breakdown of gross domestic product for the first quarter will be published on Monday. Appearances by BOE Governor Andrew Bailey in Sintra and Aix-en-Provence will also be highlights. Away from Europe, South Africa's Bureau for Economic Research will release its second-quarter inflation expectations survey on Wednesday. The report will be closely monitored by the central bank, which uses the two-year-ahead measure to inform its decisions. The bank aims to anchor expectations at the 4.5% midpoint of its target range, but is currently in discussions with the National Treasury to revise it lower. In Turkey on Thursday, annual inflation is forecast to slow slightly to 35.2% in June from 35.4% the prior month. That may persuade the central bank to lower its main policy rate by at least 300 basis points to 43%. Latin America Argentina will publish activity data for April on Monday, with the result in focus after first-quarter growth data showed that the economy expanded significantly slower than expected early in 2025. Chile will follow with economic activity data for May on Tuesday, a reading that will follow weekend primary elections for center-left candidates hoping to succeed President Gabriel Boric in a race for the country's top job later this year. The data also comes after Chile's central bank kept its rate unchanged in mid-June, with policymakers saying that while domestic activity has exceeded expectations, they remain vigilant about an unpredictable global economy. The monetary authority will publish the minutes to that decision on Thursday, with analysts looking for clearer signals about when policymakers may start cutting rates after signaling that more monetary easing is coming. Later that day, Colombia's central bank will publish minutes to its decision to hold rates steady on Friday. The Andean nation has been roiled in recent weeks by the government's decision to suspend its fiscal rule, a move that along with a worsening debt burden led both S&P Global Ratings and Moody's Ratings to downgrade the nation's credit last week.
Time of India
11 hours ago
- Time of India
Gold rate outlook: Gold prices likely to stay under pressure as investors eye key US macro data, say analysts
Gold rate outlook: are expected to remain subdued next week as investors await crucial US macroeconomic data, which may offer fresh signals on the Federal Reserve's stance on interest rates, analysts said. Tired of too many ads? go ad free now Improving risk appetite and easing geopolitical tensions have reduced investor interest in traditional safe-haven assets like gold, pushing them towards riskier assets such as equities. The US Federal Reserve's cautious tone on rate cuts has also weighed on gold sentiment. Fed Chair Jerome Powell, in his testimony last week, said rate cuts were possible but not imminent, prompting a global recalibration of gold holdings, according to PTI. On Friday, gold futures on the Multi Commodity Exchange (MCX) fell sharply by Rs 1,563 or 1.61% to close at Rs 95,524 per 10 grams. Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, said fading geopolitical concerns, especially in the Middle East, are diverting investors towards equities. He expects gold to trade in the Rs 93,000–97,500 range on the MCX and between USD 3,175–3,325 in international markets in the coming week. 'The movement will largely depend on key US macroeconomic indicators such as unemployment data, non-farm payrolls, and the ADP employment report,' Trivedi said, adding that any geopolitical surprise could shift market sentiment, PTI quoted. NS Ramaswamy, Head of Commodities & CRM at Ventura, said gold has failed to breach the USD 3,300 level overseas. 'The safe-haven appeal has diminished and the only support currently is a weaker dollar,' he noted. Tired of too many ads? go ad free now Ramaswamy added that the dollar index has not received strong support despite the US-China deal. However, gold could see a positive boost if reciprocal tariffs are postponed beyond the July 9 deadline. 'While there is no clear consensus on a rate cut in July, expectations remain skewed towards easing, which lends some support to gold,' he said. 'Falling oil prices have also eased inflation concerns and lifted risk sentiment, further eroding gold's appeal as a hedge.' With limited upside triggers and most factors turning bearish, gold prices are likely to remain under pressure unless the dollar weakens significantly or the Fed signals a major policy shift, he added
Economic Times
2 days ago
- Economic Times
US consumer spending falls unexpectedly in May
AP FILE - A shopping cart filled with groceries sits in an aisle at an Asian grocery store in Rowland Heights, Calif., Thursday, April 3, 2025. U.S. consumer spending unexpectedly fell in May as the boost from the pre-emptive buying of goods like motor vehicles ahead of tariffs faded, while monthly inflation increases remained moderate. Consumer spending, which accounts for more than two-thirds of economic activity, dropped 0.1% last month after an unrevised 0.2% gain in April, the Commerce Department's Bureau of Economic Analysis said on Friday. Economists polled by Reuters had forecast consumer spending would edge up 0.1%. President Donald Trump's sweeping tariffs, which have led businesses and households to front-run imports and goods purchases to avoid higher prices from duties, have muddled the economic picture. Economists warned it could take time for the tariff-related distortions to wash out of the data. A record goods trade deficit in the first quarter, thanks to a deluge of imports, accounted for much of the 0.5% annualized rate of decline in gross domestic product during that period. Consumer spending also nearly braked last quarter after being propelled by households pulling forward goods purchases. Households also spent less on services last quarter, helping to restrain growth in consumer spending to only a 0.5% pace, the slowest rate since the second quarter of 2020. That data potentially puts spending on a slow growth path in the second quarter. The combination of soft consumer spending and inflation is, however, unlikely to spur the Federal Reserve to resume cutting interest rates in July. Fed Chair Jerome Powell told lawmakers this week that the U.S. central bank needed more time to gauge the impact of tariffs on prices before considering a rate cut. Economists argue that price increases have remained moderate because businesses are still selling inventory accumulated before the tariffs went into effect. They expect inflation will start picking up, beginning with consumer price data for June. The Personal Consumption Expenditures (PCE) Price Index gained 0.1% in May, matching the rise in April, the BEA said. In the 12 months through May, PCE inflation increased 2.3% after climbing 2.2% in April. Stripping out the volatile food and energy components, the PCE Price Index increased 0.2% last month. That followed a 0.1% rise in the so-called core PCE inflation in April. In the 12 months through April, core inflation advanced 2.7% after rising 2.6% in April. The Fed tracks the PCE price measures for its 2% inflation target. The central bank last week left its benchmark overnight interest rate in the 4.25%-4.50% range, where it has been since December.
