According to BlockBeats, economists expect that the employment report to be released Friday night will continue the weakest employment growth trend in the U.S. since the pandemic, which is likely to prompt the Federal Reserve to decide to cut interest rates. According to the median forecast from a survey of economists, non-farm payrolls in August may increase by 75,000, marking the fourth consecutive month of employment growth below 100,000. The unemployment rate is expected to rise to 4.3%, the highest level since 2021.
In recent months, the employment growth in the United States has明显放缓 due to companies responding to demand concerns, rising costs, and the持续经济不确定性 brought about by President Trump's erratic trade policies, hiring activity has明显降温. This has put greater pressure on Federal Reserve officials, requiring them to intervene and support the increasingly sluggish labor market. Stephen Stanley, Chief U.S. Economist at Santander US Capital Markets LLC, stated, "The labor market is essentially in a frozen state, companies are pausing to observe, and we need to wait until the situation becomes clearer before making decisions."
The employment report for July shows that job growth in recent months has been far below previous reports, changing the views of many economists and policymakers on the labor market. The significant downward revision also prompted Trump to suddenly fire the head of the Labor Statistics Bureau, raising concerns about the future integrity of U.S. data. As the labor market conditions become increasingly fragile, Federal Reserve Chairman Powell has expressed an open attitude towards interest rate cuts, and the weak employment report for August will further strengthen the case for rate cuts. According to futures pricing, the market generally expects Federal Reserve officials to lower the benchmark interest rate by 25 basis points at the meeting on September 16-17. However, it remains unclear what actions the Federal Reserve will take in the upcoming meetings.
According to reports from Wu, the U.S. Securities and Exchange Commission (SEC) has unveiled a new regulatory agenda proposing new rules for the issuance and trading of cryptocurrencies, including exemptions and safe harbor provisions. The SEC is considering allowing crypto assets to be traded on national securities exchanges and alternative trading systems. At the same time, the SEC plans to simplify disclosure requirements to reduce the compliance burden on Wall Street.
● Trump signs an executive order to formally implement the U.S.-Japan trade agreement
According to BlockBeats, on September 5, U.S. President Trump signed an executive order to formally implement the U.S.-Japan trade agreement. Under the agreement, the United States imposes a 15% baseline tariff on almost all Japanese imports and applies separate treatment to products from specific industries.
The Japanese government will accelerate the implementation of the 'minimum access' plan for rice, increasing U.S. rice procurement by 75%, and purchasing U.S. agricultural products totaling $8 billion annually, including corn and soybeans.
In addition, Japan will allow the sale of American-made passenger cars without additional testing and procure U.S. commercial aircraft and defense equipment.
● Japanese financial regulators propose to include cryptocurrencies under securities law regulation
According to reports from Deep Tide TechFlow, Japan's Financial Services Agency has suggested moving cryptocurrency regulation from the Payment Services Act to the Financial Instruments and Exchange Act framework to enhance investor protection. The report indicates that Japan already has over 12 million cryptocurrency accounts, with total user deposits reaching 50 trillion yen. If the new regulations are implemented, cryptocurrency issuers will face stricter disclosure requirements, and intermediary services will also be subject to stricter regulations. This proposal is currently an internal briefing document, pending final decisions by the Financial System Council and the government.
According to Deep Tide TechFlow, the number of initial unemployment claims in the U.S. for the week ending August 30 is 237,000, exceeding the expected 230,000, with the previous value being 229,000.
● Bitwise launches five cryptocurrency ETPs in Switzerland, including BTC, ETH, XRP, SOL, etc.
According to ChainCatcher, digital asset management company Bitwise has announced the listing of five cryptocurrency ETPs on the Swiss stock exchange, including Bitwise Core Bitcoin ETP, Bitwise Ethereum Staking ETP, Bitwise Solana Staking ETP, Bitwise Physical XRP ETP, and Bitwise MSCI Digital Assets Select 20 ETP.
As of now, the number of cryptocurrency ETPs listed by Bitwise on the Six Swiss Exchange has reached ten.
● Analyst: REX-Osprey may launch the first dogecoin ETF as early as next week
According to Deep Tide TechFlow, on September 5, Bloomberg Intelligence analyst Eric Balchunas stated that REX Shares and Osprey Funds may launch the first ETF providing direct investment opportunities in dogecoin as early as next week, with the code DOJE.
The fund operates through a subsidiary established in the Cayman Islands to circumvent the restrictions of the Investment Company Act of 1940. The prospectus also mentions ETF products related to XRP, BONK, TRUMP, as well as Bitcoin, Ethereum, and Solana.
Currently, institutions including Grayscale and Bitwise are also seeking to launch a dogecoin ETF.
