The Bank of Canada (BoC) is likely to move ahead of the U.S. Federal Reserve on its first rate cut, as tepid economic growth and cooling inflation are priming up conditions to ease borrowing rates sooner, economists and analysts said.
The dollar dipped on Tuesday as traders waited on a fresh catalyst to give clues on Federal Reserve policy, while the yen was steady after Japan’s finance minister said that he would not rule out any measures to cope with the weakening currency.
Oil prices were little changed on Tuesday as investors took a more mixed view toward the loss of Russian refinery capacity after recent Ukrainian attacks while a slightly weaker U.S. dollar offered some support.
The total short interest in crypto-related stocks stands at $10.7 billion, with MicroStrategy Incorporated (NASDAQ:MSTR) and Coinbase Global Inc (NASDAQ:COIN) accounting for 84% of this short interest. Overall, the sector’s short interest as a percentage of float is over three times larger than the U.S. average of 5.13%.
The company explained that new data from two open-label Phase 1/2a studies and two open-label extension (OLE) studies of children and adolescents ages two to 18 with Dravet syndrome who were treated with STK-001 showed “clinically meaningful effects.”
