UK inflation rate soften in May but above Bank of England Target

Posted on June 18, 2025June 18, 2025 by Olumide Adesina

U.K. inflation remained above the Bank of England’s medium-term target ahead of its policy-setting meeting later this week, despite a slight annual cooling in May. Although it decreased slightly from the 3 percent rise in May, annual consumer price inflation was still higher than in the U.K.

The BOE’s medium-term goal is 2 percent. The monthly rate increased by 0.2 percent, reversing the 1.2 percent increase observed in March. Analysts had predicted the CPI would rise by 0.3 percent annually and 0.2 percent monthly.

With the annual rate at 3.5 percent, down from 3.8 percent the previous month, the core CPI, which excludes volatile energy and food prices, increased by 0.2 percent monthly. Increased employer expenses, such as higher minimum wages and National Insurance premiums, contributed to April’s higher figure, but these effects should eventually fade.

The Bank of England survey released late last week showed that while short-term expectations decreased, the British public’s expectations for inflation over the medium term remained at their highest level in several years. According to the survey, inflation expectations in five years were at 3 to 0.6 percent in May, unchanged from February’s reading, which was the highest since November 2019.

Inflation expectations for the next year fell from 3.4 percent to 3.2 percent, while those for the following year remained at 3.2 percent, the highest level since November 2022. After lowering its key base rate by 25 basis points to 4 percent at the beginning of May, the Bank of England is expected to maintain interest rates at its policy-setting meeting on Thursday.

UBS Calls Gold, Oil Strong Buy

Posted on June 18, 2025 by Olumide Adesina

UBS maintains a positive outlook on commodities like gold, crude oil over the medium term amid a complicated macroeconomic outlook. The bank stated in its most recent note that while short-term risks have become more balanced, it still anticipates commodities to “deliver strong diversification benefits for traditional bond/equity portfolios.”.

UBS analysts indicated that the latest top-down evaluation reveals a more balanced risk-reward scenario.“Recent momentum signals are improving, but macro signals present a mixed picture due to muted manufacturing and increased risks to inflation.

The Swiss Bank has therefore changed its top-down allocation to neutral while maintaining sector preferences. longer term, UBS is optimistic. “Over the coming years, commodity prices should be supported by a steady increase in demand from emerging markets, global efforts to achieve net-zero CO₂ emissions, climate change, and structural underinvestment across almost every sector,” the note stated.
UBS warned prices are “unlikely to move higher in a straight line from here,” Three main pillars support UBS’s recommended active approach to commodity investing: employing a sector-specific strategy to take advantage of special opportunities, dynamically modifying exposure and boosting returns by “replacing money-market securities with a higher-yielding collateral portfolio.”.

According to UBS, “we believe investors can navigate commodity markets effectively with this active investment approach, and significantly improve the risk-adjusted returns of a broad commodity engagement versus a more passive strategy.” The recent Middle East crisis “reinforces the ongoing need for portfolio diversification” for precious metals.

The bank kept its gold rating at a moderate overweight in the face of geopolitical uncertainty. UBS clarified that in the event of a supply disruption, the risk premium incorporated into energy prices may diminish.

SEC Opens Public Review For SOL, XRP ETF

Posted on June 18, 2025 by Olumide Adesina

The U.S Securities and Exchange Commission opened a public review for Franklin Templeton’s XRP and Solana ETFs, which might be listed on the Chicago Board Options Exchange.

The SEC announced in separate filings on Tuesday that it was initiating procedures that might allow the US exchange to list and trade shares of the Franklin Solana ETF and the Franklin XRP ETF.

The SEC postponed its decision until Tuesday after the Cboe BZX Exchange submitted a proposed rule change to the agency in March to facilitate the approval of these investment vehicles.

“The Commission has not reached any conclusions concerning any of the issues involved,” the SEC stated in both filings, referring to the initiation of proceedings.

The financial regulator invites feedback on the proposed rule change.

The SEC’s notices will effectively extend the review period for the Franklin Templeton ETFs by 35 days, until July.

Several businesses in the crypto industry are competing to be the first to approve tokens like XRP, although the US regulator has already approved spot investment vehicles for Bitcoin.

Many asset managers have already submitted applications to the SEC to list and trade investment vehicles that provide exposure to SOL or XRP, such as Bitwise, ProShares, and 21Shares. The Trump administration and Paul Atkins, the president’s nominee to chair the SEC, have significantly altered the agency’s regulatory approach to digital assets by suspending several high-profile enforcement actions against cryptocurrency companies.

Fartcoin Fights to Keep $1 Mark After Crash

Posted on June 18, 2025 by Olumide Adesina

Fartcoin’s crash in the past week added a bearish outlook on the meme token. Several technical indicators show a clear bearish turn in momentum.

The momentum indicator points to a dramatic increase in bearish momentum as the RSI at 45 falls below the midpoint and the MACD approaches crossing below its signal line.

The token is currently struggling to stay above $1. If it falls below the psychological support level of $1, the immediate support is at $0.92, which aligns with the low on May 7. Some traders choose to stay out of the market, while others view the current decline as a unique opportunity to purchase.

Though recent losses have positioned Fartcoin among the day’s top losers, savvy investors are still entering the market, and the fuel for its rise may just be beginning as technical indicators turn bullish and rumors about Binance circulate.

The Solana meme token has lost nearly a fifth of its value, indicating a significant shift in momentum.

The recent pullback has put technical pressure on the price, and chart indicators point to a potential trend reversal. The EMA lines in the meme token almost form the death cross, a bearish signal which precedes protracted downtrends.

Future gains are being solidified by a bullish MACD crossover, rising open interest, and a recovery from the psychological $0.7 level, where whale activity peaked. Nowadays, many traders view that level as a starting point for a breakout or a quick shakeout.

The number of active wallet addresses has surged since the listing, with an increase in momentum and trading volume. Real capital inflows and meme coin enthusiasm combine to maintain high social sentiment. However, some hesitation remains

Ripple: SEC appeal delays, Iran-Israel Conflict Burns XRP

Posted on June 18, 2025June 18, 2025 by Olumide Adesina

XRP has fallen 5% over the last three days, indicating a downward trend for the remittance token. The token is currently valued at less than $2, with SEC delays and conflict in the Middle East weighing on the asset.

Geopolitical uncertainty weighed on the digital asset after President Donald Trump demanded Iran’s “unconditional surrender” on Tuesday, as the sixth day of the Iran-Israel air war began.

According to three officials, the US military is increasing the number of fighter planes sent to the area to strengthen its forces.

The bearish configuration of the digital asset’s Exponential Moving Averages (EMAs) suggests downward momentum remains, as the short-term lines are positioned below the long-term ones.

If XRP can initiate an upward trajectory and break through the crucial resistance level at $2.25, the next target of $2.3 may become attainable.

The Securities and Exchange Commission (SEC) recently filed a status report in the Ripple v. SEC case, requesting the appeals court to hold the appeals. An earlier order to hold appeals preceded the filing of the status report following a settlement between the parties in the XRP lawsuit.

Attorney James K. Filan disclosed that the SEC had asked the US Court of Appeals for the Second Circuit to pause appeals, given the district court’s ongoing motion for an indicative ruling.

The long-running lawsuit will now face further delay from the SEC’s filing of a second status report in the 2 nd Circuit by August 15. Attorneys expect to hear from Judge Analisa Torres regarding the parties’ request to lift the injunction and reduce the fine to $50 million.

Ripple and the SEC extended their indicative ruling on June 12 to lift the injunction in the Final Judgment and release $50 million from the $125 million civil penalty imposed in the case.

The SEC’s changing position on crypto assets, settlement agreements, and the desire to prevent additional litigation are all grounds for amending a final judgment under Rule 60.

Legal expert Sherrie stated that Judge Torres’s response to the new Indicative Ruling under Rule 60 will influence how swiftly the XRP lawsuit is resolved. ” We might hear back next week, or we might hear back this Thursday,” she continued.

WTI: President Trump’s Message Boils Crude Oil Market

Posted on June 18, 2025 by Olumide Adesina

Oil prices slightly increased at mid-week trading session after closing the previous session up over 4% due to concerns that the Iran-Israel conflict may disrupt oil supplies. Brent oil futures are trading at $76.64 per barrel, while West Texas Intermediate oil is trading at $75.07 per barrel.

President Donald Trump demanded Iran’s “unconditional surrender” on Tuesday as the sixth day of the Iran-Israel air war began.

According to three officials, the US military is increasing the number of fighter planes sent to the area to strengthen its forces.

Supply disruptions in the Strait of Hormuz, which transports a fifth of the world’s seaborne oil, remain a key concern for the market. On Tuesday, two oil tankers collided near the strait and caught fire.

The UK Maritime Trade Operations warned of the impact of electronic interference on ship navigation systems. Analysts suggest that other members of the Organization of the Petroleum Exporting Countries could use their excess capacity to offset a decline in Iranian output.

Iran is the third-largest producer of crude oil, extracting roughly 3.3 million barrels per day (bpd).

The Federal Reserve is expected to maintain its benchmark overnight interest rate between 4.25 percent and 4.50 percent. In July, the Fed may lower rates by 25 basis points, ahead of current market expectations, due to the conflict in the Middle East and the possibility of a slowdown in global growth..

U.S Senate Seals Stablecoin Regulation

Posted on June 18, 2025June 18, 2025 by Olumide Adesina

The Senate passed a bill creating the first federal framework for dollar-backed cryptocurrencies, called stablecoins.

Although the GENIUS Act’s passage in the upper chamber by a vote of 68-30 doesn’t immediately make the new legislation law, it still requires approval from the House and President Trump.

The cryptocurrency community is already applauding the bill’s swift progress as a significant step.

Trump is increasing his financial stake in stablecoins. World Liberty Financial, a new cryptocurrency company supported by President Trump and his sons, has launched its US-dollar-pegged stablecoin in collaboration with BitGo.

Traditional businesses, from large lenders to mega-retailers, are debating whether to issue their coins. If the legislation passes the House, it is expected to unleash a wave of new stablecoin entrants.

Bank of America (BAC) CEO Brian Moynihan stated at a Morgan Stanley conference last week, “We’re working with the industry, working individually.”

Bank of America and other major banks met earlier this month to discuss possibly starting a cooperative stablecoin network. Last week, the Wall Street Journal also revealed that Walmart (WMT) and Amazon (AMZN) are exploring stablecoin opportunities.

The traditional payment system may be eclipsed by this new wave of competition, especially if businesses attempt to bypass established card-based networks like Visa (V) and Mastercard

XRP ETF set to List on Canada’s Stock Exchange

Posted on June 17, 2025 by Olumide Adesina

Purpose Investments is leading the effort to introduce the first-ever XRP ETF on the Toronto Stock Exchange, marking a significant milestone for Canada.

This development provides Canadian investors with a controlled, accessible way to gain exposure to XRP without direct cryptocurrency trading..

The Purpose XRP ETF will provide a range of ticker options to accommodate varying currency preferences, enhancing investor flexibility. Purpose Investments is launching the first XRP ETF in Canada on the TSX with multiple currency options, allowing investors direct access to XRP.

Canadian investors with brokerage accounts can begin trading the Purpose XRP ETF starting June 18 by searching for the relevant ticker symbols, XRPP, XRPP.B, or XRPP.U on their online trading platforms.

This ETF will hold XRP tokens directly, providing investors access to a regulated financial product on the Toronto Stock Exchange that tracks XRP’s price movements. Unlike traditional cryptocurrency purchases, this ETF offers a well-known investment vehicle that can be accessed through regular brokerage accounts, eliminating the need to navigate cryptocurrency exchanges or manage wallets.

Its performance closely reflects the market value of the underlying asset, as XRP is directly backed by the ETF, providing true exposure to XRP price volatility

ETF: Trump Media plans holding Bitcoin, Ethereum

Posted on June 17, 2025 by Olumide Adesina

The US Securities and Exchange Commission received a filing from Trump Media, the US President’s affiliated business that operates Truth Social, Truth+, and TruthFi, plans to create a combined exchange-traded fund (ETF) that would track the performance of the two largest cryptocurrencies by market capitalization.

The financial vehicle will hold Bitcoin and Ethereum, with 75% of its AUM allocated to the leading digital asset and 25% to the largest altcoin.

The news release issued by the Trump Media Group today reaffirms earlier rumors that Crypto.com will be the sole custodian of Bitcoin and Ethereum for the ETF. It will also serve as a “prime execution agent, as well as a staking and liquidity provider.”

The ETF sponsored by Yorkville America Digital will be listed on NYSE Arca, pending authorization by the US SEC.

According to the announcement, the proposed ETF is not a “security” because shares “may not be sold, nor may offers to buy be accepted, before the registration statement is made.”

President Trump has adopted a very different stance on the cryptocurrency sector, and one of the businesses associated with him has filed to introduce a joint Bitcoin and Ethereum ETF, marking another step in the direction of the growing pro-digital asset movements.

ByteDance Must Sell TikTok Soon

Posted on June 17, 2025 by Olumide Adesina

TikTok swings on the edge of a potential US ban. U.S. officials have instructed parent firm ByteDance to reach a deal by June 19 to sell the short-video platform or face the consequences, leaving 170 million American users uncertain about its future.

President Trump hinted he might grant a third extension on the sale deadline, and the app briefly disappeared from U.S. phones. He later pushed the cutoff to April while negotiations dragged on.

Trump then signed a second order that extended the deadline one more time, but it expires on Thursday. He could extend it again, yet serious doubts remain about how many times he can continue postponing the decision before ByteDance must sell or bid farewell to TikTok.

According to Trump, TikTok is a bulwark against Meta’s (META) dominance on social media, a position he changed during the 2024 election after initially calling for its ban during his first term. Trump’s relationship with Mark Zuckerberg, the CEO of Meta, has been fraught. After the January incident, the CEO removed Trump from his platforms.

Trump later threatened to jail Zuckerberg following the Capitol attack in January. A lawsuit Trump filed over the suspension was settled in January, with Meta agreeing to pay $25 million. TikTok CEO Shou Zi Chew was invited to Trump’s inauguration alongside other tech executives, such as Zuckerberg, Apple CEO Tim Cook, Google CEO Sundar Pichai, and Google CEO Tim Cook. Trump has also credited TikTok with drawing young voters to his reelection campaign.

The law banning TikTok was first passed by Congress and signed into law by former President Joe Biden in 2024. This law mandates that ByteDance, the parent company of TikTok, divest its stake in the social media platform. If it fails to do so, there will be severe penalties for U.S. app stores and cloud providers that continue to host the service. However, the Trump administration has assured cloud and app store companies that they will not face penalties during the extended deadline