Global financial markets are abuzz with significant developments spanning cryptocurrency, central bank policy, and corporate M&A. Bitcoin (BTC) has reached a new milestone, while the Bank of Japan (BOJ) is signaling potential shifts in its inflation outlook. Concurrently, the French telecom sector is poised for a major consolidation, and China's crude oil imports have surged.
Bitcoin's Ascent to $121,000
The cryptocurrency market is witnessing a notable rally as Bitcoin (BTC) has reportedly hit $121,000. This surge marks a significant event for digital asset investors, pushing the leading cryptocurrency to a fresh high.
Bank of Japan Considers Inflation Forecast Revisions
The Bank of Japan (BOJ) is preparing for its upcoming policy meeting later this month, with officials likely to consider raising at least one of their inflation forecasts. This potential adjustment comes after rice and other food-related prices rose more than anticipated. Specifically, the BOJ is expected to consider increasing its fiscal 2025 consumer inflation forecast during the July 30-31 meeting. However, sources indicate that the central bank is likely to keep its consumer inflation forecasts for fiscal 2026 and 2027 largely unchanged.
French Telecoms Eye SFR Carve-Up
The French telecommunications landscape is on the brink of a major shake-up, as leading operators Orange (ORAN), Bouygues (BOUY), and Iliad-owned Free (ILD) are reportedly exploring a potential carve-up of rival telco SFR. The Financial Times (FT) reported on these discussions, which could significantly reshape competition in the French market. SFR is part of Altice France Holding S.A. (SFRGR). Orange (ORAN) is listed on the Paris stock exchange (EPA: ORAN) and also has ADRs (OTC: ORANY). Bouygues (BOUY) also trades on Euronext Paris (EPA: BOUY) and has ADRs (BOUYY). Iliad (ILD) is listed on the Paris stock exchange (EPA: ILD).
China's Crude Oil Imports Reach Highs
In commodity markets, China's crude oil imports in June reached their highest daily rate since August 2023. This increase in demand from the world's second-largest economy could have implications for global oil prices and trade balances.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.