Other news

Solana has recorded an unprecedented surge in trading volumes on decentralized exchanges (DEX), recently surpassing the weekly figure of $22 billion. This exceeds Ethereum's current results and makes Solana the leader in this segment.

Commonwealth Bank of Australia (CBA) reported a 6% rise in first-quarter profit, driven by higher lending volumes and a recovery in trading revenue. Margins during the period were also stable, as the national financial institution claimed.

At the beginning of the week, traders assessed the impact of the US-China trade truce on inflation and global economic growth dynamics. This led to an increase in industrial metals’ prices including copper, Bloomberg reports.

Australia's pension funds with a capital of 4.2 trillion Australian dollars (2.7 trillion US dollars) are reviewing some of their investment strategies amid uncertain trade policies of the United States.

Ripple president Monica Long announced a dramatic shift in major US banks' attitude toward blockchain solutions and XRP.

News about the popular web browser Brave's partnership with Input Output (IO), the Cardano developer, has caused a surge of activity in the digital market. IO expects to significantly expand its user base through the new deal.

British businesses continued to cut jobs for the third consecutive month, facing pressure from rising taxes and the impact of US trade policies. According to the Office for National Statistics, the number of payrolled employees declined by 33,000 in April.

At the moment, money markets are pricing in three rate cuts from the RBA this year, with one expected during the next meeting on May 20. Earlier, traders forecast five reductions in borrowing costs in 2025.

Alan Taylor, a member of the Bank of England's Monetary Policy Committee, noted possible maintaining of interest rates at a high level for a long time. He emphasized that the UK economy is still far from reaching a neutral level of borrowing costs.

The Canadian dollar fell to its lowest level in a month, trading at 1.4015 per US greenback. The strengthening of the American currency following a temporary trade deal between the United States and China is being blamed for the CAD depreciation.