Aurelia Butler

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  • 125 Shares169 Views

    in Economy

    Brazil Senate rules out Galipolo’s confirmation before next cenbank meeting

    Lula in late August appointed the central bank’s monetary policy director, Gabriel Galipolo, to be the institution’s next governor replacing Roberto Campos Neto, whose term ends in December.The government expected to have Galipolo confirmed before the bank’s next monetary policy meeting on Sept. 17-18, aiming to increase the significance of his remarks as Campos Neto’s departure approaches.But Vanderlan Cardoso, the senator who chairs the economic affairs committee and is responsible for setting a date for the hearing, said on Tuesday he would not schedule it for Sept. 10, as some government members had speculated.Galipolo’s appointment must be confirmed by the economic affairs committee before going to the full Senate for approval for him to take the post in January.Cardoso’s decision means that it will not be possible for Galipolo to receive green light before the policy meeting, as the central bank board faces a silent period running from the week before the meeting until the week after.Lula’s Institutional Relations Minister Alexandre Padilha had said on Monday the government was working to have Galipolo confirmed by next week, likely on Sept. 10. But their hopes were shattered by Cardoso.”There are still some doubts about the hearing, so I want to let you know that it will not happen on Sept. 10,” the senator said.That also means the hearing will likely not happen until next month. Brazilians vote in local elections on Oct. 6, so most lawmakers will be out of Brasilia until then to help campaigning in their home states. More

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    in Economy

    ECB’s cautious rate csut stance will turn aggressive amid shallow recovery: BofA

    “We still see more cuts in 2025/26 than the markets are pricing, with a return to a deposit rate of 2% by 3Q25 (at the latest) and to 1.5% in 2026,” Economists at BofA said in their latest Euro Area Viewpoint.The economic outlook is at the heart of this dovish call, as further weakening in economic activity could likely force the ECB rate cut as early as October 2024, with cumulative cuts of 50 basis points in 2024 being a lower bound, the economists said.  Europe’s recovery remains fragile, BofA believes, and will likely be shallow, pressured by several economic factors including slowing growth in China as well as political factors.”Sentiment is deteriorating, the labour market is no longer as firm as it was, savings rates are rising again,” BofA said, adding that the negative risks from political uncertainty outweigh “the possibility of small fiscal slippage here and there.”As economic growth is expected to remain sluggish, inflation is likely undershoot the central bank’s 2%, the economists noted, forecasting euro-area core inflation at 2.8%, 1.9%, and 1.8% for 2024, 2025, 2026, respectively.While the ECB remains cautious on rate cuts, inflation undershooting the central bank’s target would force the ECB to cut rates to their “neutral rate assumption in 2025 and further in 2026,” BofA said, adding that this scenario remains their base case.  More

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    in Economy

    Eurogroup president hails ‘new footing’ in UK-EU relations

    LONDON (Reuters) – Britain and the European Union must turn their “first steps” to rebuild trust into a “steady walk” as they confront common challenges, the president of the Eurogroup of euro zone finance ministers said on Tuesday.Addressing representatives of Britain’s financial industry, Paschal Donohoe said his discussions with UK finance minister Rachel Reeves included pensions system reform and unlocking longer-term savings to boost capital markets, as well as the euro zone’s drive for an elusive capital markets union.”Of course, the UK and EU each have to make their own decisions about how to make progress. However, it is really welcome that we have moved onto a new footing in our relationship which allows us to exchange views on these important topics for our citizens and businesses,” he said. “More broadly, I strongly welcome the UK Government’s intention to strengthen and deepen relations with the EU,” Donohoe, an Irish government minister, told an audience at the medieval Guildhall, home of the City of London Corporation.Britain’s Prime Minister Keir Starmer has sought to reset relations with the EU since coming to power this summer, with improved ties at the heart of his efforts to boost Britain’s economic growth.Donohoe said he welcomed the UK-EU Memorandum of Understanding on Financial Services, signed last year, which enabled meetings of the Joint EU-UK Financial Regulatory Forum.In a speech titled ‘Financing Our Future’, the Eurogroup president said progress on a euro zone capital markets union was vital.”At a time of growing dissatisfaction about the role of market-based solutions and at a time of such widespread budget challenges, making further progress on Capital Markets Union is essential,” he said.Recent work between member states signalled “a sea change in attitudes and political determination”.”To play the ‘devil’s advocate’, without a true capital markets union in Europe, I think the green transition as one prime example, is far less likely to happen,” he told the audience in London. More

  • 125 Shares119 Views

    in Cryptocurrency

    Bitcoin ‘Uptober’ on Horizon, Report Reveals, Massive BTC Gains Expected

    The data shows that cryptocurrency traders are likely to see “Uptober” arrive again. However, September, which started with a massive Bitcoin price fall, may continue to remain bearish, keeping the world’s largest cryptocurrency, Bitcoin, and the whole crypto market in the red.The figures shared by @lookonchain demonstrate that from 2013 until 2023, Bitcoin declined in September (falling by over 18% maximum in one of those years) and soared in October (jumping as high as 40% and 53%).Thus, in October last year, Bitcoin went up by 27.92%, rising from $26,970 to $34,499. In 2021, BTC soared from $43,859 to $61,837, showing a massive increase of 40.99%. That year, Bitcoin spiked to an all-time high of close to $69,000, with a Bitcoin halving taking place in March 2020.This “Uptober” expectation seems to be in line with today’s bullish statement by Bitcoin maximalist and CEO of JAN3 Samson Mow. He pointed out that while many traders believe that BTC is now likely to trade sideways “forever,” that is certainly not true. Mow believes that it is in such times that Bitcoin begins to “go up a lot.”He acquired 322.37 BTC, evaluated at approximately $19 million, earlier today. Over the last five days, the same whale bought 2,322 BTC worth $136 million in total. He now holds a whopping $523 million in Bitcoin equivalent, which is 8,881 BTC.In the meantime, another smart crypto trader withdrew a large Bitcoin chunk from Binance – 1,100 BTC worth $64.2 million with a profit of $62 million, according to X analytics account @spotonchain.This article was originally published on U.Today More

  • 138 Shares199 Views

    in Economy

    Spain to name minister Jose Luis Escrivá as central bank chief

    $75 per monthComplete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print edition More

  • 113 Shares149 Views

    in Cryptocurrency

    Bitcoin (BTC) Won’t Skyrocket Here, and This Is Why

    First, the flow of the market indicates a tendency wherein it is more common to view the current price action as a chance to take profits or to sell long positions than it is to initiate new ones. The actions of traders who are closing long positions and spot traders who are taking profits at these points make this clear. The market might not be prepared for an explosive move higher just yet, as such flow patterns usually take time to develop into a more structurally bullish trend. Furthermore, an understanding of the current market position requires an understanding of the liquidity dynamics around $60,000 and $61,000. It appears that sellers are hesitant to drive the price higher in the absence of strong buyer support because the ask liquidity at $60,000 was pulled just prior to a taker-driven pump. Further more, there is a substantial supply beginning at $61,000, which establishes a contextual barrier that the market may find difficult to overcome in the absence of stronger purchasing interest. The positioning on the futures market is another important consideration. The perpetual futures data indicates that poorly positioned shorts may have been squeezed out even though the trend is still spot-driven, which is generally positive for the market. But aggressive long positions, which usually signal strong confidence in a sustained upward move, are not being established. It appears that there is buying but not enough to drive the price much higher at this time, based on the decline in open interest (OI) and the rising CVDs and delta. Finally, it is concerning that there have not been any limit bids since the $57,000 lows. A high-time-frame (HTF) rally would require additional support in the form of rising limit bids to give the price a more solid foundation upon which to rise.This article was originally published on U.Today More

  • 113 Shares99 Views

    in Cryptocurrency

    Half Billion Bitcoin Whale Suddenly Grabs Large BTC Chunk

    Their total Bitcoin holdings at the moment amount to 8,881 BTC. This is the equivalent of $523,000,000. @lookonchain shared the wallet address of this whale: 3G98jSULfhrES1J9HKfZdDjXx1sTNvHkhN.Meanwhile, according to the @spotonchain crypto tracker, a cryptocurrency whale purchased 1,100 BTC on the Binance trading platform. They withdrew this BTC worth $64.2 million with a $62 million profit on the investment.@spotonchain pointed out that this is a skilled Bitcoin trader, as they have been buying BTC when it fell to lows and then selling it once the world’s leading digital currency surged to hit price highs.Between November 2023 and January 2024, the prepump period for Bitcoin, this whale accumulated 2,947 BTC (the largest part of their holdings now) at a price of $44,300 per coin on average.They then made strategic sales, dumping a total of 315 BTC when Bitcoin reached local highs of roughly $60,300 each in March and then in August of this year. As of now, this skilled BTC trader holds 3,823 BTC worth $227 million. Their estimated profit, according to SpotonChain, amounts to $61.8 million (that is a 34% increase).On that day, Bitcoin crashed from the $64,400 area to the $59,800 zone. Mow warned those who expected BTC to be “trading sideways forever” that this was not the case here.The JAN3 chief executive pointed out that from his observations, this is exactly the time when Bitcoin starts to “go up a lot.” While BTC was trading in the $59,000 range, Mow tweeted that he did not sell a single Satoshi from his Bitcoin stash.This article was originally published on U.Today More

  • 225 Shares119 Views

    in Cryptocurrency

    Forgd is Reinventing Web3 Advisory with Free Tools for Tokenomics Design, Liquidity Monitoring, and Token Cap Table Management

    Forgd, a token advisory and optimization platform, announced the launch of its free-to-use web platform, which provides blockchain projects unrestricted access to tools for tokenomics design, liquidity monitoring, cap table management, and financial planning. Forgd eliminates financial barriers associated with traditional Web3 Advisory and consolidates an otherwise fragmented services industry built to support blockchain projects as they issue a token.A token launch involves complex challenges, prompting many blockchain projects to hire multiple external advisors for tasks like tokenomics modeling, market maker engagement, and exchange listing. These engagements can be costly and often lead to operational inefficiencies, given that few advisors operate an end-to-end process. Forgd addresses these challenges with free software tools for executing all vital go-to-market activities and optimizing token performance post-launch. This “self-service” approach to Web3 advisory allows teams to execute at their own pace.For blockchain projects that haven’t yet launched their token, Forgd helps them design tokenomics, conduct cash flow analysis & prepare for fundraising, secure partnerships with market makers & exchanges, and navigate administrative tasks such as offshore company formation. For projects with a live token, Forgd provides tools for monitoring market maker performance & token unlocks, automated token streaming, and even non-custodial liquidity provision.In a strategic move, Forgd has aligned with the Solana Foundation to provide select tools exclusively for projects built on the Solana blockchain. This collaboration underscores the Forgd commitment to supporting scalable blockchain ecosystems and fostering project growth.Operating as a public good, Forgd is reinventing Web3 advisory by providing blockchain projects free access to specialized capital markets tools such as tokenomics modeling, liquidity monitoring, cap table management, exchange listing, and financial planning. In addition to its self-service software tools, Forgd offers tailored consulting services for teams seeking extra guidance. This approach allows Forgd to service a broad spectrum of blockchain projects ranging from DIY enthusiasts to those who prefer white-glove support, ensuring accessibility and expert assistance are readily available.www.x.com/forgd_ContactMarketingDan [email protected] article was originally published on Chainwire More