On October 15, Jason Schenker, president of Prestige Economics, stated that the FOMC may consider a larger rate hike of 50 basis points in December. Schenker, who accurately predicted the Fed's most recent rate increase, now believes that after the September hike, the Fed may 'let the policy effects breathe a bit' before considering a more significant increase in December. Schenker anticipates that if a larger rate hike occurs in December, further increases may be paused at the beginning of next year.
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Top Forecaster: Fed May Raise Rates by 50 Basis Points in December
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US Considers Easing Sanctions on Shadow Fleet to Lower Shipping Rates
On October 15, a US official stated on Wednesday that the Trump administration is considering easing sanctions on vessels known as the 'shadow fleet.' These ships have previously transported oil and petroleum products from countries such as Russia, Iran, and Venezuela. This move aims to reduce the currently historically high global shipping rates. Shortly before this, President Trump had temporarily lifted sanctions on Russian diesel, a decision that drew strong criticism from Ukrainian President Zelensky, several European governments, and some Republican senators. The US official revealed that current discussions focus on whether the US will allow previously sanctioned vessels to transport 'legitimate oil.' Here, 'legitimate oil' refers to crude oil or petroleum products not subject to US sanctions, rather than oil from Russia and Iran that is under sanctions. The official stated that this move aims to facilitate the export of more refined products and crude oil from the Gulf region. -
Dollar Index Erases All Gains Since CPI Report Release
On October 15, the Dollar Index (DXY) slowly declined in the Asian session, completely erasing all gains since the release of the U.S. September CPI data yesterday (which had peaked with a cumulative increase of about 70 points), now reported at 102.16. The British Pound against the U.S. Dollar (GBP/USD) and the Euro against the U.S. Dollar (EUR/USD) both rose about 0.3%, currently reported at 1.3231 and 1.1197, respectively. (Jin10) -
South Korean Stock Index Opens Down Over 5%
On October 15, the South Korean KOSPI index fell below 6000 points, dropping 5.59% during the day. SK Hynix fell over 7%, while Samsung Electronics dropped over 6%. (Jinshi) -
Fed's Daly: Rate Hikes May Be Necessary, But Not Urgent
On October 15, Mary Daly, President of the San Francisco Federal Reserve, stated on Wednesday that the Fed may need to further raise short-term interest rates to curb excessive inflation. However, she also pointed out that there is no need to take such action at the Fed's meeting on October 27-28. "It is very likely that we will need to make further adjustments, but regarding the timing of those adjustments, I think we are still deliberating," Daly said. "I don’t feel there is a need to rush into a decision with limited information. I believe we have enough time." -
BTC Falls Below $82,000
Market data shows that BTC has fallen below $82,000, currently priced at $81,984.48, with a 24-hour decline of 2.01%. The market is experiencing significant volatility, so please ensure proper risk management. -
BTC Drops Below $83,000
Market data shows that BTC has fallen below $83,000, currently priced at $83,015.81, with a 24-hour decline of 0.46%. The market is experiencing significant volatility, so please ensure proper risk management. -
ETH Surpasses $2500
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Standard Chartered Launches Cryptocurrency Trading Service in UAE for High-Net-Worth Clients
On October 14, Standard Chartered announced the launch of a cryptocurrency trading service in the UAE aimed at high-net-worth clients, having obtained the relevant license from the Dubai Virtual Assets Regulatory Authority (VARA). Eligible clients can buy and sell BTC and ETH directly through their existing Standard Chartered accounts without the need for independent wallets or third-party trading platforms, with the bank responsible for asset custody and transaction settlement. This service is launched in partnership with Zodia Markets and is initially available only to professional investors in the UAE, with plans to expand to other markets in the future. Standard Chartered stated that this is the first direct cryptocurrency trading service offered to wealth management clients and the first of its kind by an international bank in the UAE. -
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US Spot Ethereum ETF Sees Net Inflow of $24.8 Million Yesterday
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