The USD/JPY pair falls sharply to near 149.00 during North American trading hours on Tuesday.
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USD/JPY tumbles to near 149.00 as Trump tariff fears improve Yen’s safe-haven appeal
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FOREX NEWS & BLOG
EUR/USD trades cautiously ahead of Trump’s tariffs announcement
EUR/USD recovers some intraday losses and rises to near 1.0800 during the North American trading session on Tuesday.
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Interactive Brokers Expands Prediction Markets Beyond the US, Launches in Canada
Canadian Interactive Brokers’ users now have a new way to trade on
market-moving events, thanks to the company’s expansion
of its forecast contracts. Already available in the U.S., these contracts reportedly allow
traders to take direct positions on economic data, political decisions, and
even climate outcomes.
A New Tool for Market Prediction
“Forecast Contracts allow investors to engage
with the most important questions driving today’s markets, from inflation and
interest rates to geopolitical developments and climate change,” commented
Steve Sanders, Executive Vice President of Marketing and Product Development at
Interactive Brokers.
“They provide a direct and accessible way to
manage risk and express market views through a focused, easy-to-use
platform.” According to the announcement, Forecast Contracts
function as a straightforward way to speculate on or hedge against key
financial and economic outcomes.
Investors can buy a “yes” contract if they
believe a specific event will happen or a “no” contract if they
think it won’t. If their prediction is correct, the contract settles at $1.00;
if incorrect, it settles at zero.
How Forecast Contracts Work
The contracts are priced between $0.02 and $0.99. They are
reportedly available through IBKR ForecastTrader, a dedicated platform, as well
as other Interactive Brokers’ trading platforms.
Forecast Contracts are available to clients of
Interactive Brokers LLC, Interactive Brokers Canada Inc., and Interactive
Brokers Hong Kong. ForecastEx LLC, a subsidiary of Interactive Brokers regulated by the U.S. Commodity Futures Trading Commission (CFTC), operates the contracts.
The market for event contracts has recently gained prominence, attracting the attention of regulators. Interactive Brokers’ launch of its event contracts in Canada followed a legal tussle between Kalshi and Nevada gaming regulators.
FinanceMagnates.com reported that the federally regulated
derivatives exchange Kalshi sued Nevada gaming regulators to continue offering sports and political event contracts.
Webull collaborated with Kalshi this month to offer binary
event contracts. The collaboration includes short-term cash-settled contracts, and Webull plans to become a clearing member of Kalshi. “Bringing Webull Premium to market is the next iteration of Webull’s high caliber offerings, providing a new benchmark for retail investors,” said Anthony Denier, Group President and US CEO of Webull.
This article was written by Jared Kirui at www.financemagnates.com.
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Analysis: Japan Will Reclassify Crypto as Financial Products – What It Means for Investors
Japan is taking a significant step toward reshaping its
approach to cryptocurrency regulation. By 2026, the Financial Services Agency
(FSA) plans to reclassify crypto assets as financial products under the
Financial Instruments and Exchange Act. This shift will bring cryptocurrencies
under the same regulatory framework as stocks and bonds, subjecting them to
insider trading rules and stricter oversight.
The decision reflects Japan’s shifting stance on digital
assets. Initially recognized primarily as a payment method, cryptocurrencies
have grown into an investment class with increasing market influence. As
blockchain technology and cashless transactions gain momentum, integrating
crypto into the broader financial system appears to be a logical progression.
However, this reclassification also raises questions about market access,
investor protection, and the long-term impact on innovation in the sector.
Japan’s Crypto Regulations Have Changed
Japan has a history of regulating cryptocurrencies. In 2016,
it recognized Bitcoin as a legal form of payment under the Payment Services
Act. However, the regulatory framework treated crypto primarily as a payment
method, not an investment vehicle.
Over time, as the market grew, challenges such as fraud,
manipulation, and unclear regulations emerged. By the end of 2024, Japan had
around 11.8 million crypto accounts, an increase of about three million from
the previous year. The country ranked 23rd globally in crypto adoption,
alongside South Korea and Hong Kong.
🔒 Stricter Crypto AML Measures in Japan: Global Standards in Focus 🌐💼#CryptoCommunity #JapanCryptoRegulations pic.twitter.com/fsrbFnO3CF
— SpotSpreads (@SpotSpreads) May 28, 2023
Stronger Rules Aim to Reduce Risks
The FSA’s decision reflects an effort to address market
risks. Reclassifying crypto assets as financial products will bring them under
stricter regulations, including bans on insider trading. This move follows
similar trends in other regions.
In the US, the Securities and Exchange Commission (SEC) has
pursued legal action against companies for offering tokens it classifies as
securities. The European Union’s Markets in Crypto-Assets (MiCA) framework has
also introduced comprehensive regulations for digital assets.
Pushing for a Cashless Economy
Japan has been promoting a cashless economy for over a
decade. In 2019, cashless transactions accounted for 26.8% of total payments.
By 2023, this figure had risen to 39.3%, amounting to 126.7
trillion yen ($885 billion), according to the Ministry of Economy, Trade, and
Industry. The government aims to increase this to 40% by 2025. Blockchain
technology is expected to play a role in achieving this goal.
Visit FinanceMagnates.com to read: Ripple’s
XRP Ledger Integration Could Boost Market Cap by $64 Billion in Japan.
Potential for ETFs and Lower Taxes
One expected impact of the new regulations is the potential
approval of spot crypto exchange-traded funds (ETFs). These are currently
prohibited in Japan. Lawmakers are also discussing reducing the tax on crypto
gains from 55% to 20%, aligning it with stock investments.
Currently, crypto profits are taxed as miscellaneous income,
resulting in high tax rates. A reduction could attract more investors and
increase liquidity in the Japanese market.
JUST ANNOUNCED Japan to Allow Start-Ups to Raise Funds With Crypto: The Japanese government will allow companies to raise equity financing by issuing crypto tokens instead of stocks. The post Japan to Allow Start-Ups… #Markets #JapanCryptoRegulations https://t.co/qFC510L6jr pic.twitter.com/kWLWajQq3O
— Rewards Farm (@Rewards_Farm) September 15, 2023
Institutional Investment Could Increase
The introduction of crypto ETFs could also encourage
institutional investment. In the US, spot Bitcoin ETFs approved in early 2024
saw rapid adoption, accumulating over $10 billion in assets within six months.
If Japan follows a similar path, its market could experience
significant growth. The FSA has been holding closed-door discussions with legal
and financial experts since October 2024. The agency plans to finalize its
policy direction by June 2025, with legislative changes expected in 2026.
Retail Investors May Face Restrictions
The new classification raises concerns about restrictions on
retail investors. The FSA has already taken steps to limit access to
unregistered foreign exchanges. In 2024, it requested that Apple and Google
remove five platforms—Bybit, KuCoin, MEXC Global, LBank, and Bitget—from their
app stores in Japan.
While this measure aims to protect investors, it may also
reduce choices for those seeking tokens not listed on local exchanges. Some
investors could turn to unregulated platforms, increasing exposure to risks.
Japan Implements Stricter Anti-Money Laundering Rules to Crack Down on Crypto Crime: After G7 discussions, Japan plans to bring tighter anti-money laundering (AML) regulations to bring down crypto crimes. … #Markets #CryptoAML #JapanCryptoRegulations https://t.co/HFiVh9WAtJ pic.twitter.com/a4jyx0AxzN
— Rewards Farm (@Rewards_Farm) May 23, 2023
Aligning with Global Crypto Regulations
The reclassification aligns with Japan’s broader financial
and economic policies. In 2022, the FSA introduced regulations for fiat-backed
stablecoins.
In April 2024, corporate tax exemptions on unrealized crypto
gains were introduced, encouraging corporate involvement in the sector. These
developments indicate a structured approach to integrating digital assets into
the economy.
Globally, other regions are also tightening crypto
regulations. The US, EU, and Singapore have introduced frameworks to manage
risks while fostering innovation. Japan’s approach could influence other Asian
markets, shaping regional regulatory trends.
Public Reactions Remain Divided
Public reactions to the FSA’s decision are mixed. Some see
it as a necessary step toward stability and institutional adoption. Others
worry about excessive regulation restricting market growth.
The balance between oversight and innovation will be
critical in determining the impact of these changes. Japan’s approach in the
coming years will be closely watched as a model for future crypto regulation.
This article was written by Anndy Lian at www.financemagnates.com.
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US ISM Manufacturing PMI declines to 49 in March vs. 49.5 expected
The business activity in the US’ manufacturing sector contracted in March, with the ISM Manufacturing Purchasing Managers Index (PMI) dropping to 49 from 50.3 in February.
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Canada’s Carney: We will retaliate against US tariffs
- We are going to be very deliberate in terms of the measures we take to fight for Canada
- We will put in place retaliatory measures if there are additional measures against Canada on Wednesday
This article was written by Adam Button at www.forexlive.com.
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USD makes a run to the the downside
Markets are anxious and we just saw a move lower.
The CNBC report that a 20% blanket tariff was “less likely” than a
- tiered system of 3 different rates, and a
- country by country rate
It is reported that chips, pharma and other tariffs would be announced later. Canada and Mexico tariffs are expected to be lifted as a result of fentanyl.
Reports are also being broadcast that the bargaining window is open for countries to make a plea and that deals made, could see reductions in the countries rate (or elimination).
The news saw the USDCAD move lower (higher CAD).
USDCAD: The price moved from about 1.4403 down to a low of 1.4309. That saw the price move below the 100 and 200-hour MA at 1.4321 to 1.4325. Staying below that would be more bearish. More selling would target the 100 day moving average at 1.4273.. That is also within a swing area between 1.42684 and 1.42789.
EURUSD: The EURUSD has moved higher and tests the 100 and 200-hour moving averages between 1.07977 and 1.08076. Get and stay above that area would be needed target the highs for the day near 1.0829. Above that the high from yesterday at 1.0849 and a swing area 1.08594 would be targeted.
US stocks are moving higher and trade at session highs:
- Dow industrial average is up 30 points or 0.08% at 42033.99
- S&P index is up 17 points or 0.31% at 5629.07
- NASDAQ index is up 111 points or 0.65% at 17413.63
The NASDAQ index is looking to snap a four day losing streak.
The ceremony will now be at 4 PM – after the US stock market close. I am not sure what to make of that.
This article was written by Greg Michalowski at www.forexlive.com.
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Iran advisor to supreme leader: Will develop a nuclear bomb if attacked
Hidden in all the other worries, the US has re-positioned air craft carriers in the Middle East and has some bombers in the UAE. Trump gave Iran a 60-day deadline for demands around its nuclear program and reports say Iran didn’t respond positively.
Now we have a bit of a standoff.
This article was written by Adam Button at www.forexlive.com.
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Service sector deteriorates in the Dallas Fed survey
- Outlook -11.3 vs +4.6 prior
- Revenue +1.3 vs +8.2 prior
- Employment +2.2 vs -0.1 prior
- Six months outlook -0.6 vs +13.3 prior
- Six months revenue +30.9 vs +43.9 prior
- Capex +11.9 vs +20.3 prior
Comments in the report:
Management of companies and enterprises
- We are a bank, our net interest margin last year was down as our deposit rates were up and prime loan rates down. This year our margins should be a little better. Our investment cash flow and reinvestment rates are better.
Professional, scientific and technical services
- Partners servicing clean energy clients supported by federal grants are scaling back —rapidly. Uneconomic projects are being shelved.
- Most of our work is in the private sector. It is our hope that the reduction in government spending reduces interest rates. We are also hopeful that a reduction in regulations spurs private sector growth.
- Our clients are laying off people, such as our non-profit clients who relied on USAID money and others.
- We are a CPA firm that has ongoing dealings with the IRS, SBA and Social Security Administration. The government personnel cutbacks will significantly affect our ability to address issues with these agencies.
- The slashing of so many programs and funding around anything deemed DE&I will cut off a portion of our business.
- Unfortunately, the federal workforce reduction is getting rid of the good and the bad, high performers as well as the low performers. We see a lot of good workers, especially those who have valuable experience and institutional knowledge, leaving the government. With uncertainly on the rise, we are lowering our projections and are concerned that private sector consultants will be assuming additional risks.
- Uncertainty is affecting our investment decisions. Having no idea what tomorrow will bring (on a daily basis) is not conducive to capital investment.
Rental and leasing services
- We think uncertainty about tariffs has given our suppliers an excuse to raise their prices.
Administrative and support services
- We are seeing more emotional reactions as opposed to real, substantive financial impact to the chaotic and shifting federal policy decisions. It’s a relatively dramatic change from what we were seeing in early January 2025.
Real estate
- Many of our poorest apartment residents rely on charities to subsidize their rent. As soon as the charities were cut off, our rental income dropped, and more evictions are becoming necessary.
Insurance carriers and related activities
- At the end of last year, we saw an uptick in the small businesses we service. They began buying insurance again and hiring more employees instead of cutting. We believe a number of small businesses won’t weather the storm ahead and others will be dropping employees.
Securities, commodity contracts and other financial investments and related activities
- Reduced government spending and policy uncertainty will likely affect our clients, which will reduce spending and investment.
Credit intermediation and related activities
- We are concerned about the possible impacts digital money systems may have on traditional banking.
Support activities for transportation
- Tariffs are still a major concern, and also if government cancels the Office of Refugee Resettlement budget we would be highly affected.
Accommodation
- We have already experienced a large government conference cancelation due to the news coming out of D.C.
This article was written by Adam Button at www.forexlive.com.
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Addressing Global Transaction Hurdles with USD and EUR Virtual IBANs – A Game Changer for Crypto
Deus X Pay, a regulated virtual asset service
provider, is providing an end-to-end solution for how businesses transact
globally with the introduction of Virtual International Bank Account Numbers
(vIBANs) in US Dollars (USD) and Euros (EUR). Deus X Pay’s vIBANs solve the
challenge faced with converting and settling between digital assets and fiat
accounts by offering dedicated account details, allowing businesses to make
payments more efficiently.
Key Features of vIBANs:
- Enhanced
End-to-End Transaction Flow – funds move
more efficiently between crypto-related businesses and non-crypto banks,
overcoming restrictive banking relationships and providing a strong end-to-end
solution for crypto to fiat payments & transactions. - Direct
First-Party Transactions – vIBANs allow
businesses to send and receive funds under their own company’s name,
eliminating the need for multiple intermediaries and reducing compliance
bottlenecks. - Greater
Transparency & Reconciliation –
businesses receive unique sub-accounts, making transactions tracking,
reconciliation and financial reporting clearer and simpler.
“The biggest challenge businesses face today is inefficient capital
flow, especially when transacting across traditional banks and digital assets,”
said Richard Crook, CEO of Deus X Pay. “Many companies remain cautious
about crypto transactions through external sources due to security, compliance,
and counterparty risk concerns. The introduction for vIBANs addresses this by
providing businesses with their dedicated named accounts, enabling first-party
transactions from the client’s vIBAN. This eliminates unnecessary friction,
ensuring seamless flow of funds with greater transparency and fewer delays.
This is not just about innovation – it is about advancing financial
infrastructure to meet today’s needs.”
This launch of USD and EUR vIBANs aligns with Deus X
Pay’s commitment to making finance faster, cheaper, and safer,
reinforcing its position as a trusted partner for businesses navigating the
evolving financial landscape
This article was written by FM Contributors at www.financemagnates.com.
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Robinhood Targets NASCAR Fans and Michael Jordan Followers with This Sponsorship Deal
Robinhood (NASDAQ:
HOOD) announced today (Tuesday) its first foray into motorsports through a new
partnership with 23XI Racing, the NASCAR team co-owned by basketball legend
Michael Jordan and veteran driver Denny Hamlin.
Robinhood Enters NASCAR,
Partners with Jordan-Owned 23XI Racing
The
collaboration, set to debut at the Goodyear 400 at Darlington Raceway on April
6, will see Robinhood’s branding featured on team uniforms, equipment, and
select race cars throughout the NASCAR Cup Series season. The fintech company’s
logo will appear on the No. 23 and No. 67 Toyota Camry vehicles driven by Bubba
Wallace and Corey Heim, respectively.
“By
expanding our presence into motorsports, we’re able to reach a passionate,
engaged fanbase that’s hungry to take control of all aspects of their lives,
including their finances,” Steve Quirk, Robinhood’s Chief Brokerage Officer, commented.
NASCAR (National Association for Stock Car Auto Racing) is one of the most popular motorsports in the United States. It is consistently ranked as one of the most-watched sports in America, often coming in second behind the NFL in terms of television ratings. The live events can draw huge crowds, with some races attracting over 100,000 spectators.
“As
Robinhood continues to expand their presence in sports beyond the NBA, we’re
proud to partner with them and look forward to bringing the intensity of NASCAR
racing to their growing customer base,” 23XI Team President Steve Lauletta
welcomed the new partnership,
Driver
Bubba Wallace also expressed enthusiasm about representing Robinhood, praising
the company’s “dedication to market accessibility and financial
literacy.”
Robinhood Invests in Sports
This
partnership continues Robinhood’s strategy of engaging sports fans to build
brand awareness and reach new audiences. The company currently holds NBA jersey
patch sponsorships with the Washington Wizards, Memphis Grizzlies, and Miami
HEAT.
The first
agreement was signed with the Washington team and has been in effect since
October 2023. Subsequently, Robinhood entered into two more sponsorship deals
in September 2024, adding the Memphis and then Miami basketball teams to its
roster.
KLUTCH
Sports Group is currently responsible for helping establish new sports
partnerships, with CEO Rich Paul serving as a strategic brand advisor for
Robinhood.
This article was written by Damian Chmiel at www.financemagnates.com.
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Pound Sterling underperforms as Trump’s reciprocal tariffs loom large
The Pound Sterling (GBP) weakens against its major peers on Tuesday, with United Kingdom (UK) officials assessing potential economic risks from reciprocal tariffs to be unveiled by United States President Donald Trump on Wednesday.
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