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03:32
Offshore RMB interbank offered rates mostly decline, with overnight and one-week Shibor hitting the lowest levels in nearly three weeks
Golden Ten Data reported on April 20 that offshore RMB interbank offered rates (CNH HIBOR) on Monday showed that most major term rates declined. The overnight HIBOR fell by 8 basis points to 1.26227%, and the one-week HIBOR edged down to 1.38061%, both hitting new lows since April 1. The two-week HIBOR rose to 1.42788%, while the one-year HIBOR remained unchanged at 1.75000%. Click the link to view historical data >>
03:29
Institution: Reopening the Strait of Hormuz is not difficult, but full restoration of oil flows may take years
Golden Ten Data reported on April 20 that analysts said shipping through the Strait of Hormuz remains intermittent, highlighting the uncertainty surrounding this vital global oil and gas chokepoint. However, one thing is already clear: even if hostilities cease, it will take months—or even years—for oil flows through this narrow waterway to return to prewar levels. Analysts believe the speed of recovery depends not only on diplomatic progress between Washington and Tehran but also on logistical conditions, the availability of tanker insurance, freight rates, and whether shipowners are willing to risk passage. It is expected that the full rebalancing of the global tanker fleet and the resumption of Gulf loading operations to prewar rhythms will be uneven; even under favorable circumstances, this process could take at least eight to twelve weeks.
03:28
Nomura: Fed Expected to Cut Rates Twice This Year, BoJ to Raise Rates Twice
On April 20, Nomura Securities released a report predicting that the Federal Reserve will cut rates twice this year, while the European Central Bank, Bank of England, Reserve Bank of India, and Bank of Korea will keep interest rates unchanged. The Reserve Bank of Australia is expected to raise rates once, and the Bank of Japan will raise rates twice, but not immediately. Nomura noted that the fragile ceasefire agreement between the U.S. and Iran is improving market risk sentiment. Despite the high-risk edge policies, the market generally believes that both sides will eventually reach an agreement. However, given the significant gap in demands from both parties, it may take weeks or even months to finalize an agreement. In the meantime, the Strait of Hormuz may remain largely blocked.
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