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October 18 – The Norwegian government announced on Sunday that Norway, along with other members of the European Free Trade Association (EFTA), including Iceland, Liechtenstein, and Switzerland, have signed a free trade agreement with Vietnam. In a statement, the Norwegian government said that after the agreement takes effect, approximately half of Norways exports to Vietnam will enjoy zero tariffs, and within seven years, the proportion of exports enjoying zero tariffs will exceed 98%. Vietnam and the EFTA concluded negotiations in July this year after years of talks. The two sides initially launched negotiations in 2012.US Vice President Vance: If Iran is allowed to control shipping through the Strait of Hormuz, global energy supplies will be constrained, and gasoline prices will rise. We will see gasoline prices fall after this conflict ends. The US military is ensuring the smooth passage of oil through the Strait of Hormuz.On October 18, the Saudi-led coalition stated that an AH-6I helicopter crashed in the Najran region of Saudi Arabia due to a "technical malfunction," killing both crew members. The Houthi rebels in Yemen had previously issued a statement on the evening of October 17 claiming to have shot down a Saudi Apache helicopter in the Najran region.The Saudi-led coalition said an AH-6I helicopter crashed in the Najran region due to a technical malfunction, killing both crew members.On October 18th, Canadian Defense Minister John McGuinty confirmed on the evening of October 17th that a serious accident occurred at the Canadian Armed Forces Wainwright Air Base in Alberta, resulting in casualties. According to a senior military journalist in Canadian media, based on his 20 years of direct military reporting experience, "such a major accident has never occurred before" during training exercises. Reports indicate that a live-fire exercise was underway at the base when the incident occurred, causing a fire that spread with the wind to an area storing large quantities of ammunition. Canadian Prime Minister Mark Carney stated that evening that a "serious accident" had occurred at Wainwright Air Base, resulting in a large fire. A Member of Parliament representing an Alberta riding also stated that, to his knowledge, an explosion and fire occurred at the base, causing serious casualties.

5 Things to Know in Crypto Today – XRP Surges on SEC v Ripple Optimism

Cory Russell

Oct 11, 2022 14:45

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Cryptocurrency Prices Hold Following the US economy's indicator-driven slump

With a $4.3 billion gain on Sunday, the cryptocurrency market snapped a four-day losing trend to close the day at $905.6 billion. Notably, despite four straight days in the red, the cryptocurrency market also broke a three-week losing skid. The value of the cryptocurrency market rose by $20.9 billion.


With a gain of 18.7%, XRP was among the top performers over the week. Price support came from hope for a successful conclusion in the SEC v. Ripple lawsuit.


But US economic data and Fed monetary policy are putting investors' appetite for risky assets to the test. Bets on 75 basis point Fed rate increases in November and December were driven by ISM Non-Manufacturing PMI figures and Friday's US employment report.


The likelihood of a 75 basis point Fed rate increase in November was 78.1% this morning, up from 56.5% on September 30. Notably, the likelihood of a 75-basis point increase in December has increased to 22.6% from 0% on September 30.


The IMF/World Bank Meetings will generate a lot of market attention later today. The World Bank and the International Monetary Fund (IMF) have issued warnings about the effects of central banks raising interest rates at the same time.

XRP Receives Support Due to Newfound Hope in the SEC v. Ripple Case

XRP increased by 2.87% on Sunday, closing the week up 18.7% at $0.5320. However, the overall crypto market value only saw a slight 2.36% growth. Investor hope for a successful resolution of the SEC v. Ripple lawsuit has lessened the impact of Fed concern on XRP price movement.


A crucial court decision has encouraged rumors that Ripple will win or, in the worst event, that the SEC would agree to a settlement. Expectations of a Ripple win were raised when the Court earlier this month overturned the SEC's argument to the Court's denial of the SEC's effort to shield the papers connected to the William Hinman speech under the attorney-client privilege.


Bitcoin (BTC) and Ethereum (ETH) are not securities, according to William Hinman, Division of Corporation Finance, in a well-known 2018 lecture.


A Ripple response to an SEC objection to two amicus brief petitions fueled more XRP price support. The filings provide a new perspective on XRP that could not support the designation of XRP as a security. In a letter to the court, the defendants were forthright, concluding that the SEC had no business initiating this case in the first place if it couldn't assess the validity of such accusations.


In the end, it could depend on the Hinman documents. The general assumption is that the SEC will ultimately have to provide up the papers, despite the fact that it may appeal the Court's ruling. The consensus is that the SEC will try to reach a settlement at that point rather than allow the documents to be made available to the public.

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