News

According to Odaily, sources have revealed that American Perpetuals Exchange, a derivatives trading platform owned by Theodore Gillibrand, son of U.S. Senator Kirsten Gillibrand, has completed a $30 million funding round led by Lux Capital. The report states that the platform plans to apply for the relevant license from the U.S. Commodity Futures Trading Commission (CFTC) and intends to launch perpetual futures products for stocks and stock indices, rather than cryptocurrency perpetual contracts. (Fortune)

Due to rising fuel prices caused by the Middle East conflict, demand for new and used electric vehicles in the European market continues to increase. Data from 17 markets representing more than 90% of sales in the EU and European Free Trade Area countries show that new electric vehicle registrations in May rose by 34% year-on-year.Demand for used electric vehicles is also strengthening. In France, interest in used electric vehicle models from China increased significantly, with the number of potential buyers in May tripling compared to the same period last year.Analysts expect that the price of used electric vehicles will increase by about 10% this year, and that growing demand will continue to drive this trend.

Golden Ten Data reported on June 19 that data shows foreign exchange traders, including hedge funds, are buying large amounts of options to bet on a stronger US dollar after the Federal Reserve sends out hawkish signals this week and reinforces expectations for US rate hikes. According to traders, leveraged funds began purchasing US dollar call options on Wednesday, which will appreciate in value if the US dollar rises. As investors digested the new Federal Reserve Chair Walsh’s anti-inflation remarks, this demand continued into Thursday. Tobias Jungmann, Head of Americas FX Options at Bank of America, stated: “We are seeing large-scale buying of US dollar call options, mainly concentrated in G-10 currencies. Given the current low implied volatility, building long US dollar positions via options looks very attractive.” James Swindell, Senior FX Options Trader at Barclays in London, said: “We are witnessing broad and significant demand for US dollar call options, especially in EUR/USD and GBP/USD.”