Other news

The European Union is ready to make another attempt to reach a free trade agreement with Australia. The parties have been trying to secure the deal since 2018, but now they face a common threat—Donald Trump's aggressive import tariffs, Bloomberg reports.

Over the month, the Canadian dollar has shown the strongest performance among G10 currencies, according to Investing.com. However, ING analysts view the loonie's prospects as less attractive compared to other G10 currencies.

Russia's Ministry of Digital Development has introduced new regulations targeting illegal cryptocurrency mining. Individuals engaged in this activity without the required permits will face fines ranging from 100,000 to 2 million rubles, and their digital assets may be subject to confiscation.

Cardano founder Charles Hoskinson has announced the launch of the Cardinal protocol, a new solution that enables Bitcoin integration with decentralized finance (DeFi) applications.

The potential imposition of US tariffs on copper imports is profitable for Freeport-McMoRan. The North America's largest producer is capitalizing on pricing for the metal, as reported by Miningweekly. However, CEO Kathleen Quirk cautions about the effects of such tariffs for the industry.

Later on Wednesday, UK Chancellor Rachel Reeves is set to deliver a major speech, laying out her plan to revive the country’s economy. She’ll unveil the 2026–2029 government spending budgets and the UK’s long-term investment strategy through the end of the decade, Bloomberg reports.

According to economists surveyed by Reuters, the Bank of Japan (BOJ) is expected to hold off on further monetary tightening this year due to uncertainty surrounding Donald Trump’s trade policies.

A Reuters poll suggests that the UK economy will expand by just 1% this year, with weak growth prospects likely pushing the Bank of England (BoE) to cut interest rates twice more before December. So far, uncertainty surrounding potential US tariffs has had minimal impact on analytical forecasts.

Bloomberg analysts have published an updated forecast predicting which cryptocurrency ETFs will be approved next by the US Securities and Exchange Commission (SEC). They expect Litecoin and Solana exchange-traded funds to be approved in 2025 with a 90% probability.

According to Canadian Imperial Bank of Commerce head, Victor Dodig, the Canadian economy is experiencing a period of stagnation. Major investment projects are frozen, and unemployment has reached 7%, demonstrating four months of weak employment growth.