ChainCatcher news reports that, according to institutional analysis, the number of initial jobless claims in the United States last week was 230,000, slightly higher than expected, while the previous figure was 228,000. However, at these levels, the data still supports the view that the U.S. labor market remains in good health. Meanwhile, the U.S. PPI for August was in line with expectations, with an annual rate of 1.7% and a core PPI annual rate of 2.4%. The monthly PPI data was indeed slightly higher than expected, but the data for July was revised down. Overall, there isn't much new information at the moment, so it hasn't really impacted the USD/JPY. (Jin Ten)

ChainCatcher message, Societe Generale stated in a report that the upcoming U.S. economic data may confirm that the labor market is steadily cooling down, providing support for the Federal Reserve to cut interest rates and for the dollar to weaken. "If the trend is a gradual easing of the labor market, it will point towards rate cuts, but not at the pace currently expected," said a foreign exchange strategist at Societe Generale. They noted that this could inject some volatility into the forex market; however, the bank still advises selling the dollar on any rebound unless the labor market completely stops easing. (Jin Ten)

ChainCatcher news, David Meier, an economist at Baosheng Group, stated in a report that if expectations for a significant interest rate cut in the U.S. weaken, the dollar may rebound, but the increase will be limited.He said: "We do not believe the dollar will return to the highs of late 2022, as overvaluation and declining interest rates pose significant resistance to its movement." It is expected that currencies such as the pound, Australian dollar, and New Zealand dollar may continue to strengthen against the U.S. dollar, as the pace of rate cuts in these countries may not be as fast as in the U.S. He noted that especially for the pound and New Zealand dollar, their central banks' rates may be higher than those in the U.S. by the end of the year. (Jin Shi)

ChainCatcher news, according to the official announcement, to provide more trading options for Binance futures and enhance user trading experience, Binance will launch the ZETA 1-50x USDT perpetual contract on February 2, 2024, at 16:30 (UTC+8).

ChainCatcher news, Coinbase announced that to increase the development and use of USDC internationally, users will be exempt from fees when trading USDC with non-U.S. dollar fiat currencies.Coinbase stated that the adoption of USDC is more conservative outside the United States. Currently, USDC purchased with U.S. dollars is three times more than that purchased with non-U.S. dollar currencies. Part of the reason is that, outside the United States, users often incur fees when converting their local currency into USDC. (Source link)