Investors resumed selling global bond funds in the week to June 8, after purchasing them in the previous week, as strong employment numbers in the United States and soaring European inflation rekindled fears of aggressive monetary tightening by major central banks.
Bitcoin price was holding steady Thursday as the European Central Bank announced its first interest-rate hike in more than a decade. As flagged in CoinDesk’s Market Wrap newsletter on Wednesday, bitcoin price this year has traded around expectations of central-bank monetary policy tightening – since the liquidity-sucking exercises also appear to influence cryptocurrencies.
Mortgage rates are back on the upswing, after a brief decline in May, and the housing market is still suffering from a lack of listings. As a result, mortgage demand continues to drop. Total mortgage application volume fell 6.5% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
The Union Budget 2022 proposed to classify cryptos as virtual digital assets (VDA). Even as cryptocurrency has been specified as assets, tax treatment is not like other assets. As per the new crypto tax rule, an individual has to pay a flat 30 percent tax on income earned from transfer of cryptocurrencies and other virtual digital assets, including NFTs.
Bitcoin price (BTC) was struggling to find direction Friday after a U.S. government report showed that the pace of jobs growth slowed in May – potentially a sign that the Federal Reserve’s recent moves to cool the economy might be starting to have an impact.
The Bank of Canada took another aggressive step in its hiking cycle, raising its overnight interest rate by 50 basis points for a second consecutive time and warning that it may act “more forcefully” if needed to tackle inflation.
The gross GST revenue collected in the month of May 2022 has come above ₹1.40 lakh crore, government data showed on Wednesday. The revenues for the month of May 2022 are 44% higher than the GST revenues in the same month last year of ₹97,821 crore.
Bitcoin price has bounced back strongly in the last 48 hours gaining 8% on the weekly chart. Today, the BTC price is up by another 5% moving past $31,500. The recent price rally comes as Bitcoin tries to catch up with the U.S. equity market after strong decoupling last week.
1.6-kg gold worth Rs 72.4 lakh have recovered and arrested three people by customs officials at the Chennai airport. Based on an intelligence unit report, officials intercepted three people who came by three different airlines from Colombo and Singapore.
Cardano price action is in a tough spot for bulls. Yesterday’s close above the Tenkan-Sen was the first close above that Ichimoku level since April 4, 2022. Unfortunately for bulls, bears have taken clear control during the Friday session and have returned ADA below the Tenkan-Sen and close to yesterday’s open.