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A group of major banks invested about $270 million in the Faro project - the issuance of its own stablecoin (a coin with an exchange rate pegged to the dollar). The money will cover five years of operation for the issuing company, and the coin's launch itself is stated for the first half of 2027.
Lorie Logan, president of the Federal Reserve Bank of Dallas, said on November 10 that the Fed may have to raise rates further this winter. For the past few months, the market had been living with the opposite picture - talk of easing.
US October prices rose faster than expected, and the market almost unanimously bet on a Fed rate hike on December 9. The euro lost 0.28% over the day and is trading around 1.1190.
The developer of Claude has named its IPO price for the first time. On Nasdaq under the ticker ANT, 825 million Class A shares are being sold: at the upper bound, that's up to $64.4 billion raised and a company valuation of up to $1.4 trillion.
US consumer prices rose 0.4% month-over-month in October versus the expected 0.23-0.3%. Immediately after the release at 16:30 MSK, exchanges forcibly closed roughly $200 million in long positions in crypto; Bitcoin and gold moved lower.
Anthropic (developer of the Claude AI assistant) has begun its roadshow ahead of going public with a range of $70-78 per share. Google announced a $10B investment, with its stake to be acquired at the same price that offering participants will pay for shares.
On November 10, Binance stopped processing any transactions related to MEXC and 12 of its other legal entities. A day earlier, the platforms were only slowing down such transfers; now it is a ban. The reason was a FinCEN order (the financial intelligence unit of the US Treasury), which linked $16 billion in suspicious transactions to MEXC.
Fed Governor Christopher Waller said on Tuesday, November 10, during the European session: if US core inflation for October comes in around 0.3% month-over-month or higher, December will require a rate hike of a full half percentage point. The October CPI report itself is released the same day.
Clare Lombardelli, Deputy Governor of the Bank of England, told the Guardian that she does not rule out a rate hike at the December meeting. For a market accustomed to expecting cuts from the British central bank, this is a reversal in tone.
On November 9, the U.S. Commodity Futures Trading Commission (CFTC, the regulator of the futures and forex market) banned eight Americans from working in the industry: they brought U.S. retail traders to unlicensed offshore brokers. Clients deposited about $391 million with the four brands.
Taiwan's TSMC, the world's largest contract chipmaker (it produces processors on orders from other brands), reported a 60% increase in October revenue compared to October of last year. The driver is the same as in previous months - demand for artificial intelligence chips.
The US consumer price report is published today at 16:30 Moscow time, but it will not include a year-on-year change. The reason is the US government shutdown a year earlier, because of which some of the data was simply not collected. This was reported by CNBC.
This week, three data blocks come out for the US, and both crypto and tech stocks are already sliding ahead of them: consumer inflation on Tuesday, earnings from AI equipment makers on Thursday, and producer prices on Friday. BTC is trading around $74,322, down 1.85% over the day.
Austin Goolsbee, President of the Federal Reserve Bank of Chicago, said on Monday, November 9, that service price growth has been accelerating for several months. A day before the US inflation data, this is the most inconvenient argument for those expecting a rapid rate cut.
The U.S. Office of the Comptroller of the Currency (OCC, the federal bank regulator) upgraded the trust status of the largest American crypto exchange from conditional to full. Now Coinbase conducts cryptocurrency custody and payments under federal supervision, rather than only under individual state licenses.
On Tuesday, the US consumer price report for October is released. The FactSet consensus is plus 0.2% for the month versus 0.6% in September, when annual price growth accelerated to 3.7%, the highest since May.
The People's Bank of China extended its streak of gold purchases for reserves to two years without a break and noticeably increased the volume of purchases precisely during the price pullback.
On November 6, FinCEN (the US Treasury's financial crimes unit) banned American banks from making any transfers to or from the MEXC Global crypto exchange. The exchange was named a "primary source of money laundering threat," with claims totaling $16 billion in transactions over five years.
The October US employment report (NFP) was released on November 6 and showed 165K new jobs against a forecast of 65K. The pound lost about 0.6% against the dollar and fell below the 1.3400 level.
The October US labor market report came in more than double expectations, and the probability of a Fed rate hike at the December 9 meeting rose to 73%. US Treasury yields moved higher, and the dollar strengthened.
Bank of Japan Governor Kazuo Ueda speaks today, November 6, at 19:00 MSK. Japan's rate is currently 1.25% - the highest since April 1995, and Ueda is expected to hint whether the next move will come on December 18.
The US publishes its October employment report - the main release of the week for the dollar. Consensus expects +65 thousand non-farm payrolls after a weak +29 thousand a month earlier, and half an hour later the preliminary Michigan index is released.
Since Monday, November 2, American banks have been receiving questions from two supervisory agencies: whether they had any unusual activity or service disruptions. The trigger was the $6.34 billion theft from Binance - there is no formal case, but banks' crypto risks are being examined in connection with this episode for the first time.
Thomas Barkin, president of the Federal Reserve Bank of Richmond, said on Thursday, November 5, that inflation remains too high and for the Fed it is risk number one. He called the policy path clear: the only debate is about the pace of rate increases, and a gradual step "makes sense."
