People's Bank of China USD/CNY reference rate is due around 0115 GMT.

The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a "band," around a central reference rate, or "midpoint." It's currently at +/- 2%.

How the process works:

• Daily midpoint setting: Each morning, the PBOC sets a midpoint for the yuan against a basket of currencies, primarily the US dollar. The central bank takes into account factors such as market supply and demand, economic indicators, and international currency market fluctuations. The midpoint serves as a reference point for that day's trading.
• The trading band: The PBOC allows the yuan to move within a specified range around the midpoint. The trading band is set at +/- 2%, meaning the yuan could appreciate or depreciate by a maximum of 2% from the midpoint during a single trading day. This range is subject to change by the PBOC based on economic conditions and policy objectives.
• Intervention: If the yuan's value approaches the limit of the trading band or experiences excessive volatility, the PBOC may intervene in the foreign exchange market by buying or selling the yuan to stabilize its value. This helps maintain a controlled and gradual adjustment of the currency's value.

Earlier re China:

• Green shoots in China? Excavator sales grew 15% in October
• It's not a pretty picture in China

Justin had the news from the People's Bank of China here on Monday:

• PBOC governor will maintain yuan exchange rate at a reasonable, balanced level

The PBOC governor Pan Gongsheng emphasized that the Bank will not let the yuan plummet without a fight:

• Will step up countercyclical adjustment
• Should resolutely guard against the risk of exchange rate overshoot

Today is an example of the Bank pushing back on yuan weakness, with the reference rate set 300+ points stronger for the CNY than was expected (in the Reuters model).

Offshore yuan has jumped (lower USD/CNH as shown in the chart below):

Fundamental Overview

The puzzling weakness in the US Dollar following Trump’s victory looks more and more like it was just a “sell the fact” reaction. The greenback is now back in the driving seat, and we might also be seeing some pre-positioning into a potentially hot US CPI report tomorrow.

At the latest Fed’s decision, Fed Chair Powell said that they expect bumps on inflation and that one or two bad data months on inflation won’t change the process. This keeps the 25 bps cut in December in place even if we get higher inflation readings.

The market though is forward-looking, and the rise in Treasury yields showed that the market sees risks to the inflation outlook. Moreover, the red sweep could increase those fears if the progress on inflation stalls, or worse, reverses.

On the GBP side, this morning we got the UK labour market report and although the data was mostly mixed, it leant more on the dovish side. Overall though, it didn’t change anything for the market or the BoE.

GBPUSD Technical Analysis – Daily Timeframe

On the daily chart, we can see that GBPUSD broke through the support zone around the 1.2840 level and extended the drop as more sellers piled in. The natural target should be the swing low at 1.2665 level. That’s where we can expect the buyers to step in with a defined risk below the level to position for a rally back into the 1.28 handle.

GBPUSD Technical Analysis – 4 hour Timeframe

On the 4 hour chart, we can see more clearly the break of the support which was defining the range between the 1.2840 support and the 1.3040 resistance. If the price retests the support now turned resistance, we can expect the sellers to step in with a defined risk above the level to position for a drop into the 1.2665 level next. The buyers, on the other hand, will want to see the price breaking higher to position for a rally back into the 1.3040 resistance.

GBPUSD Technical Analysis – 1 hour Timeframe

On the 1 hour chart, we can see that we have a minor downward trendline defining the current bearish momentum. The sellers will likely keep on leaning on it to position for new lows, while the buyers will look for a break higher to pile in for a rally into new highs. The red lines define the average daily range for today.

Upcoming Catalysts

This week is a bit empty on the data front with the most important releases scheduled for the latter part of the week. Tomorrow, we have the US CPI report. On Thursday, we get the latest US Jobless Claims figures. On Friday, we conclude the week with the US Retail Sales data.

The USDCAD moved higher in the Asian session and extended above the highs over the last few weeks between 1.3945 and 1.3958. The high price extended to 1.39664 but fell short of the 2022 high which came in at 1.3977.

The inability to move higher turn the buyers to sellers, and the price has rotated back down toward the close from yesterday's trade where buyers have stalled the fall.

On the downside, the next major target comes against the rising 100 and 200 hour moving averages between 1.3908 and 1.3911. It would take a move below that area to increase the bearish bias with the 100 bar moving average on a four hour chart the next downside target at 1.38868.

On the top side, getting back above 1.3945 and 1.3958 would have traders looking again toward the 2022 high at 1.3977. Get above that level opens the door for further upside potential.

----------------------------------------------

USDCAD Summary

The USDCAD rose in the Asian session, approaching 2022 highs.

Key Points:

1. Broke above recent highs (1.3945-1.3958).

2. Reached 1.39664, shy of 2022 high (1.3977).

3. Buyers turned sellers, and the price fell.

Outlook:

Bullish Scenario

Move above 1.3945, 1.3958, and 1.3977 confirms further upside.

Bearish Scenario

Break below 1.3908-1.3911 (100/200-hour MA) and 1.38868 (100-bar MA) increases bearish bias.

Levels to Watch:

• Resistance: 1.3945, 1.3958, 1.3977

• Support: 1.3908, 1.3911, 1.38868

The US CPI will be released tomorrow at 8:30 AM ET. What is expected?

• October Headline CPI expected to rise by 0.2% MoM, which is the same as last month. The forecasted range is 0.1 to 0.3%.
• YoY Headline CPI expected to increase to 2.6%, up from 2.4%, with a forecast range of 2.3 to 2.6%. A change of 0.0% will fall out of the YoY calculation this month.
• Core CPI projected to rise 0.3% MoM and 3.3% YoY, matching the previous month. The forecast range is 0.2 to 0.3% MoM and 3.2 to 3.4% Y/Y. A year ago, a gain of 0.2% falls out of the calculation.

The US PPI will be released on Thursday with the expectations of 0.2% for the MoM headline and 0.3% for the core measure.

Fed's Barkin this morning on inflation kept it simple saying::

• Inflation might be coming under control or might risk getting stuck above Fed 2% target.

Kashkari had more to say about inflation today with different influences. He said.

• Uncertainty exists around the impact of new government policies on inflation.
• A one-time tariff increase is transitory but could become a sustained issue if it escalates, introducing inflation risks.
• Immigration policy changes could have a significant effect on inflation, but the outcome is uncertain.
• Inflation from new leases will take a couple of years to work through the system.
• Housing inflation is expected to return to normal levels, but it may take a year or two.
• If inflation surprises to the upside before December, it may affect policy decisions.
• Current long-term yield increases don’t seem to reflect heightened inflation expectations.
• Higher productivity could suggest a higher neutral rate, potentially influencing future rate cuts.

Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:

There were numerous Fed speakers on Tuesday, US time:

• Fed's Kashkari: The fundamentals seems strong and I'm optimistic that will continue
• Fed's Barkin: Fed in position to respond appropriately regardless of how economy evolves
• Fed's Waller: Makes no comments on economy or monetary policy outlook

and we get one more today in Asia:

• 2200 GMT / 1700 US Eastern time - Federal Reserve Bank of Philadelphia President Patrick Harker speaks on "Fintech, AI and the Changing Financial Landscape".

Which doesn't sound too promising for remarks from him on the economy or monetary policy. But, perhaps we'll get a mortsel thrown to us in any Q&A.

***

As for the data agenda, it's a bit of a yawn, none of it likely to move around major FX upon release.

From Japan we'll get an update of wholesale inflation - the PPI for October. The Producer Price Index (PPI) in Japan is also known as the Corporate Goods Price Index (CGPI)

• its a measure of the average change over time in the selling prices received by domestic producers for their output
• is calculated by the Bank of Japan

Unlike the Consumer Price Index (CPI), which measures the price change that consumers see for a basket of goods and services, the CGPI focuses on the change in the prices of goods sold by companies.

The PPI reflects some of cost pressures faced by producers

• its based on a basket of goods that represents the range of products produced within the Japanese economy, including items such as:
  • raw materials like metals and chemicals
  • semi-finished goods
  • and finished products
  • different weights are assigned to each category within the index based on its contribution to the overall economy.
• it does not account for the quality improvements in goods and services over time, which might lead to overestimation of inflation
  • additionally, it reflects only the prices of domestically produced goods, leaving out the impact of imported goods

The PPI can be used as a guide to inflationary pressures in the economy:

• If producers are facing higher costs, they may pass these on to consumers, leading to higher consumer prices.

***

From Australia we'll get wages data for Q3. Wage growth is expected to keep slowing (y/y) in Q3 2024. With the labor market softening, upward pressure on wages has been easing over recent quarters.

In Commonwealth Bank of Australia's preview they cite their internal data as indicating a quarterly wage growth of around 0.9%, a notable decrease from the 1.3% growth seen in the same quarter last year, which had been boosted by a significant 5.75% increase in award and minimum wages. As a result, the annual wage growth rate is projected to fall to 3.6%, bringing it closer to a level compatible with sustainable, in-target inflation.

While the labour market softening, but from strong levels, the RBA is eyeing wage growth as a factor helping keep inflation sticky. A moderation in growth for wages will be welcomed by the bank if it translates into softening price pressure also.

• This snapshot from the ForexLive economic data calendar, access it here.
• The times in the left-most column are GMT.
• The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.
• I’ve noted data for New Zealand and Australia with text as the similarity of the little flags can sometimes be confusing.

CPI data from the US due today, Wednesday, November 13, 2024.

Greg popped up a preview earlier:

• US CPI to be released tomorrow at 8:30 AM. Expectations are for 0.2% MoM

In a recent note, BMO previewed the data also. Analysts at the bank suggest that any significant influence from recent storms on inflation data is likely limited, meaning market reactions to any deviation in core inflation—either upward or downward—may be pronounced.

The consensus forecast calls for a steady +0.3% rise in core CPI for the month, with expectations leaning toward a possible upside surprise.

A +0.4% reading or higher would make waves, particularly against the backdrop of the recent election results. The logic suggests that if inflation was already ticking up before the GOP’s victory, the added impact of tariffs and potential trade conflicts could fuel further inflationary momentum. However, BMO analysts also point out that while targeted tariffs may not universally drive up prices, this assumption currently shapes US rates market sentiment. With this market outlook in mind, BMO expects that an upside surprise in October’s inflation numbers could have a meaningful impact on yields, increasing their upward trajectory.

At present, actual inflation data is seen as the most direct factor that could push 10-year yields beyond the 4.50% threshold. A softer-than-expected core CPI reading could trigger a rally in the Treasury market, though there appears to be a limit to how much the market will temper expectations for inflation following Trump’s victory. Instead, BMO anticipates the market will continue to define a trading range in this post-election landscape, characterized by a mix of cautious optimism and prevailing skepticism.

Japanese wholesale prices, the PPI or CGPI:

+0.2% m/m

• expected 0.0%, prior 0.0%

+3.4% y/y

• expected +3.0%, prior +2.8%

The higher results will be a bit of a tailwind for the yen, at the margin. Not too much though, there is the huge monetary policy divergence that is weighing on the hapless yen to contend with.

Of note is that renewed yen falls pushed up import costs for some goods

The Bank of Japan is wary of yen weakness pushing up prices, the Bank wants inflation but not like that. The Bank wants inflation coming from wage growth pushing up demand. The Bank has said it'll consider raising rates to help slow or stop the yen decline. But political pressure is on the Bank not to hike until wages are seen rising at the next round of wage negotiations in (Japan's) spring.

---

The Producer Price Index (PPI) in Japan is also known as the Corporate Goods Price Index (CGPI)

• its a measure of the average change over time in the selling prices received by domestic producers for their output
• is calculated by the Bank of Japan

Unlike the Consumer Price Index (CPI), which measures the price change that consumers see for a basket of goods and services, the CGPI focuses on the change in the prices of goods sold by companies.

The PPI reflects some of cost pressures faced by producers

• its based on a basket of goods that represents the range of products produced within the Japanese economy, including items such as:
  • raw materials like metals and chemicals
  • semi-finished goods
  • and finished products
  • different weights are assigned to each category within the index based on its contribution to the overall economy.
• it does not account for the quality improvements in goods and services over time, which might lead to overestimation of inflation
  • additionally, it reflects only the prices of domestically produced goods, leaving out the impact of imported goods

The PPI can be used as a guide to inflationary pressures in the economy:

• If producers are facing higher costs, they may pass these on to consumers, leading to higher consumer prices.

Australia data - Wage Price Index for Q3 2024:

+0.8% q/q for the third consecutive quarter

• expected +0.9%, prior +0.8%
• Both the private sector and the public sector rose 0.8%, seasonally adjusted, for the quarter.

+3.5% y/y, lowest annual rise for the series since December quarter 2022 and followed four consecutive quarters of annual wage growth equal to or above 4%.

• expected +3.6%, prior +4.1%

---

The Australian Bureau of Statistics (ABS) publishes the Wage Price Index (WPI) quarterly, measuring changes in the price of labor, unaffected by shifts in workforce composition, hours worked, or employee characteristics.

The ABS provides detailed WPI data, including breakdowns by industry and sector, offering insights into wage trends across Australia's economy.

CreationNetwork.ai, a groundbreaking digital platform, today announces its public launch, redefining digital engagement for businesses, content creators, and influencers. As an all-in-one solution for content creation, e-commerce, social media management, and digital marketing, CreationNetwork.ai combines 22+ proprietary AI-powered tools and 29+ platform integrations to deliver the most extensive digital ecosystem available.

Empowering Digital Transformation with 22+ AI-Powered Tools

CreationNetwork.ai’s suite of tools spans every facet of digital engagement, equipping users with powerful AI technologies to streamline operations, engage audiences, and optimize performance. Each tool is meticulously designed to enhance productivity and efficiency, making it easy to create, manage, and analyze content across multiple channels. Key tools include:

• AI Copywriter: Generates high-quality, unique content for blogs, social media, and business communications.
• AI Page Maker: Simplifies landing page creation with zero design or coding knowledge.
• AI Trend Briefs: Provides market insights and trends, positioning users at the forefront of innovation.
• AI Bot Maker: Creates intelligent chatbots for seamless user interaction and customer support.
• AI Video Maker: Produces captivating, brand-aligned promotional videos.
• AI Video Ambassador: Transforms text scripts into spokesperson videos with customizable avatars.
• AI Voiceovers Studio: Offers lifelike voiceovers in multiple languages and accents.
• AI SmartVoice Replicator: Clones voices to maintain brand consistency across content.
• AI Voice Modifier: Enhances voice recordings, elevating audio quality effortlessly.
• AI SmartTranscriber: Converts audio into text with accuracy, ideal for transcription and subtitles.
• AI Design Studio: Enables professional-quality graphic creation without design skills.
• AI BrandMagic: Instantly creates essential brand assets like logos and business cards.
• AI Banners: Tailors banners for digital platforms and campaigns.
• Art Academy - Image Genius: Allows text-to-image transformation, animations, and editing with AI.
• Social Metrics Analytics: Offers detailed insights on social media performance metrics.
• Social SmartEngagement: Increases engagement through targeted AI-driven insights.
• Social PublishMaster: Automates social publishing with optimized timing and platform synchronization.
• Social Listen Monitor: Tracks brand mentions and audience sentiment across social media.
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• Social CollaborationPro: Fosters team collaboration, managing content creation and approval processes.
• AI & Automation: Integrates AI-driven insights across content creation, engagement, and analytics.
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Each of these tools is designed to optimize digital engagement, reduce manual workload, and enable users to focus on impactful, strategic actions. CreationNetwork.ai’s suite harnesses the transformative power of AI and blockchain, fostering both creativity and precision.

Comprehensive Integration Network: 29+ Platform Connections for Maximum Reach

One of the most distinguishing features of CreationNetwork.ai is its extensive integration network. With over 29 integrations, users can synchronize their digital activities across major social media, e-commerce, and content platforms, providing centralized management and engagement capabilities.

Social Media Integrations: Facebook, X (Twitter), Instagram, LinkedIn, Pinterest, TikTok, YouTube, WhatsApp, Telegram, Discord, and Snapchat.

E-commerce Integrations: Google Business Profile, Shopify, WooCommerce, Etsy, BigCommerce, Ecwid, and Wix Commerce, supporting online retailers with seamless inventory and order management.

Content Creation Integrations: Canva, Grammarly, Airtable, Zapier, Make, Adobe Express, Unsplash, Giphy, Pexels, Pixabay, and Dropbox allow users to access resources for content creation and file management without leaving the CreationNetwork.ai platform.

This integration network empowers users to manage their brand presence across platforms from a single, unified dashboard, significantly enhancing efficiency and reach.

Community Incentives: CRNT Token Airdrop and ICO Whitelisting

In preparation for its Initial Coin Offering (ICO), CreationNetwork.ai is launching a $750,000 CRNT Token Airdrop to reward early supporters and incentivize participation in the CreationNetwork.ai ecosystem. Qualified participants can secure their position by following CreationNetwork.ai’s social media accounts and completing the whitelist form available on the official website. This initiative highlights CreationNetwork.ai’s commitment to building a strong, engaged community.

CreationNetwork.ai: The Future of Digital Content and Marketing

CreationNetwork.ai is also a comprehensive digital ecosystem for businesses, creators, and marketers. Combining the power of AI and blockchain, CreationNetwork.ai redefines how users manage their digital presence, from crafting content to engaging with audiences across diverse channels. Its suite of tools, extensive integrations, and commitment to community-building make CreationNetwork.ai a leading solution for digital transformation.

“CreationNetwork.ai is built to set a new benchmark in digital engagement,” said Ali Demir, CEO of CreationNetwork.ai. “We’re providing creators and businesses with an all-encompassing solution that combines innovative AI, deep platform integrations, and automation. Our platform is truly one of a kind, empowering users to harness the full potential of digital technology.”

About CreationNetwork.ai

CreationNetwork.ai (https://creationnetwork.ai/) is a leader in AI-driven content creation, social media management, and e-commerce solutions, leveraging blockchain technology to empower its users with advanced digital engagement tools. Through a broad spectrum of AI tools and extensive integrations, CreationNetwork.ai is dedicated to transforming the way brands, businesses, and creators connect with audiences in an ever-evolving digital world.

Midnight Evergreen Technologies, Inc. (Midnight) dares to reimagine the role of an AA game publisher, with a mission to fundamentally reshape how we play together. Midnight is building The Evergreen, the first (of-its-kind) publishing platform designed as a deconstructed, composable MMORPG, delivering immersive, cross-genre experiences that seamlessly span across various platforms, pushing the boundaries of how games are played and enjoyed.

The Evergreen fuses enduring player progression with constantly evolving gameplay, creating an interconnected arcade of games that offer the reach, engagement, and monetization of a traditional MMO—without the risks of a single theme, game narrative, or prolonged production cycles.

Midnight proudly announces the launch of the first of its 26 planned core games in this Deconstructed MMO: The Evergreen: Midnight Market. Set to release on Web, Mobile, and Telegram, and built in partnership with Aptos Foundation, Midnight Market is a daring game of risk and reward where every spin teeters between fortune and mischief. Combining the thrill of crypto gaming with the reliability and scalability of Aptos' Layer 1 blockchain, Midnight Market sets a new standard for decentralized gaming.

Players will find themselves in a high-stakes world of chance, crafting items, earning tokens, and navigating encounters with the elusive Night Pig. How far will you push your luck in pursuit of the ultimate prize?

“Our partnership with Aptos Foundation marks a significant tipping point,” said Steve Wade, Founder & CEO of Midnight. “Aptos’ innovative Web3 infrastructure aligns perfectly with our strategy to focus on player participation in the ecosystems they engage with. Specifically, we’ve solved for interoperability between games, and Aptos makes that solution a reality.” Wade further explained, “We believe in the creator economy and see Web3 as the next logical step—empowering individuals and communities to shape the ecosystems they interact with. With Aptos, we envision a world where players’ stories matter and endure long after the game is over.”

Key Features of The Evergreen: Midnight Market

• Engaging, Unpredictable Gameplay: Players experience unpredictable rewards or unexpected encounters, with every spin holding the potential for either fortune or a surprise interaction with the Night Pig. This element of suspense enhances the gameplay experience with an entertaining, high-stakes twist.
• Decisive Risk-Reward Mechanics: With each turn, players must choose between pushing their luck for higher rewards or banking their earnings. This gameplay design adds strategic depth, enhancing engagement through meaningful player choices.
• Aptos Powered Player Economy: Midnight Market features a blockchain-powered economy, enabling players to craft items known as Keys and earn tickets that can be redeemed for the native ecosystem token or other exclusive merchandise. This player-driven system ensures that every reward has tangible value, heightening the stakes and making the game’s risk-reward mechanics even more impactful.

The game is the first major title to utilize the Aptos high-throughput blockchain, which boasts low latency and high transaction speeds, creating a seamless gaming environment for thousands of players worldwide.

“Powered by the speed and security of the Aptos blockchain, we’re excited to see Midnight’s ambitious vision for The Evergreen brought to life,” said Bashar Lazaar, Head of Grants and Ecosystem at Aptos Foundation. “Players can expect an immersive, genre-spanning experience where every move shapes their unique journey, and the time they spend leaves lasting echoes within the game’s universe and control over the assets they acquire. This isn’t just a step into the future of Web3 gaming—it’s a bold leap forward, placing players at the heart of a dynamic ecosystem, where every moment they choose to spend has a meaningful impact on the worlds they explore".

The Evergreen: Midnight Market is in closed beta now and available to players globally November 13th.

About Aptos Foundation

Aptos Foundation is dedicated to supporting the development of the Aptos protocol, decentralized network and ecosystem and driving engagement with the Aptos ecosystem. By unlocking a blockchain with seamless usability, Aptos Foundation aims to bring the benefits of decentralization to the masses.

About Aptos Network

Aptos is a next-generation Layer 1 blockchain. Aptos’ breakthrough technology and programming language, Move, are designed to evolve, improve performance and strengthen user safeguards.

About Midnight

Midnight (https://www.midnight.io/) is at the forefront of innovation with The Evergreen, the first-ever publishing platform that operates as a deconstructed, composable MMORPG. Players engage with and explore diverse, interconnected game worlds, all linked by The Evergreen, a dynamic nexus that binds these unique experiences together. Each game is its own universe, offering new adventures while feeding into a broader progression system. By combining immersive gameplay with a shared economy and evolving narratives, Midnight is reshaping how players discover and interact with new worlds across genres and platforms.

Legend of Arcadia (LoA), a new card-based RPG set in an expansive universe inspired by Kingdom Hearts, is bringing a community-driven operational model to Web3 gaming. With a focus on sustainable growth, LoA aims to establish itself as a leading platform by integrating blockchain technology, unique NFT mechanics, and community-centric features that foster long-term player engagement.

As the Web3 gaming industry is forecasted to grow to $305 billion by 2030, LoA stands out by addressing key sustainability issues that have previously limited the success of Web3 gaming ventures. Many blockchain-based games have struggled with player retention and engagement, often due to unsustainable reward systems. LoA’s approach, built on years of gaming experience from its team’s work with industry leaders like Tencent, Hero Entertainment, and Seasun Studios, centers on creating an inclusive, feedback-driven community.

Community-driven growth and operations

Legend of Arcadia (LoA), a card-based RPG game built on a vast story universe inspired by Kingdom Hearts, has a strong vision for reimagining live operations in Web3, called community-driven operations. The formula combines building a sticky and vocal community driven by a strong feedback loop and nimble implementation of the ideas. This has helped LoA stand out from others.

The team has spent the past two years perfecting the formula based on their decade-long experience in driving high DAU and retention at leading game companies such as Tencent, Hero Entertainment, and Seasun Studios. At the same time, building a 60k+ strong community with users that actively interact with the team and provide them with feedback.

The right feedback loop between the community and the developer has led to innovative tactics for driving community engagement.

For example, rather than hosting traditional alpha tests, the team mixed the idea of esports and competition and invited people to form their own teams to compete during the test. This led to a brand-new Guild called Alter Ego Guild being formed in the community, and they remain some of the game’s biggest supporters, helping new players onboard and get deep into LoA.

During its three-month campaign, LoA had 100,000+ registered users with minimal marketing spend. It also has very high next-day and 7-day retention of 75% and 56%, respectively, higher than many traditional games' 50% and 20%. As it moves towards its TGE and official game launch, the community continues to provide feedback and support the team.

With backing from 10+ investors, including Animoca Brands and OKX Ventures, LoA can further develop the game's vastness, ensuring the community is constantly engaged with new content and utilities of its native token, $ARCA. This ranges from the endless possibilities of different NFT heroes to the countless actions and ways to earn $ARCA tokens.

Innovative NFT Mechanics and Extensive Gameplay

In LoA, each NFT hero is unique, with randomized genetic traits such as appearance and abilities drawn from a large gene pool of over five trillion combinations, including over 48 types of basic attributes, 40,000+ skill combinations, and more than 28 million gene combinations. This ensures that no two NFT heroes are the same.

The game team, supported by AI, has also created countless words and storylines, shaping different toy characters and enriching the stories of LoA. It also enhances player retention by implementing seasonal demands created by the in-game mechanics, which will eventually boost the trading volume.

$ARCA Token Distribution and Roadmap

In LoA, players can earn tokens through a variety of activities and strategies involving their NFT heroes. Inspired by a system commonly used in web2 games, by combining White Ores from mining with Black Ores earned in battles, they can produce $ARCA tokens. Heroes can also be customized through special events and features, which not only alter their appearance but can also provide gameplay advantages, such as enhanced mining power when using event-specific skins.

Players can also participate in PvE content by clearing dungeons and defeating bosses for valuable loot or diving into PvP battles to compete against others for rewards and climb seasonal leaderboards for even greater gains. To further boost their earnings, players can stake $ARCA tokens, unlocking additional rewards like free NFTs or a share of profits from NFT sales, adding another layer of value to their in-game investments.

In addition to earning tokens through in-game monetization, LoA further enhances sustainability by distinguishing between in-game and external economic factors. This structure allows players to monetize external elements, such as staking $ARCA tokens for special privileges and rewards or sharing in proceeds from NFT assets. This approach aims to foster long-term value creation over short-term speculative gains.

LoA will have a total supply of 40,000,000 $ARCA tokens that are distributed among seven pools where each pool will be further subdivided into different rank tiers based on the amount of Gacha Points earned.

With countless opportunities and activities in the world of LoA, the game constantly rejuvenates the excitement of its community and players, which will ensure its sustainability in the long run. The game also has plans for extensive single-player content (PVE mode) and multiplayer modes where players can form teams and challenge others in real-time battles. Legend of Arcadia is currently set to launch in November 2024.

About Legend of Arcadia

Legend of Arcadia (LOA) (https://legendofarcadia.io/) is a card-based RPG game built on a vast story universe inspired by Kingdom Hearts. LOA is built with the latest technology for the modern gamer, powered by blockchain. Players can enjoy the game for free, on the go, on a mobile device, and socialize in real-time with gamers from across the globe through immersive PvP game modes and by trading highly composable NFTs.

Rekt Brands Inc. (Rekt), the parent company behind the Rektguy NFT project, Rekt Drinks, and the Rekt brand intellectual property, is excited to announce the completion of a $1.5 million seed funding round. Funded exclusively by angel investors and the community—without institutional venture capital—this achievement highlights the support Rekt received from its loyal and growing network.

This funding announcement follows the debut of Rekt Drinks, Rekt’s first consumer product: a lime-flavored sparkling water with zero caffeine and zero alcohol, featuring the Rekt branding. Rekt Drinks made its debut last week with 222,456 units available across 32 countries. The entire stock sold out in under 48 hours, with demand in the U.S. alone resulting in a complete sell-out within just 4 hours and 20 minutes. This launch represents one of the largest real-world product sales by a Web3 brand, reinforcing Rekt’s potential as a cultural force in both digital and traditional markets.

Rekt was founded from the success of the Rektguy NFT collection, created by artist Ovie Faruq (OSF) in May 2022. Since then, the Rektguy project has expanded into Rekt Brands, which oversees the Rekt IP and pioneered a unique industry model by offering equity in the parent company directly to its NFT holders, utilizing a Reg CF exemption under SEC guidelines in the U.S.

“Rekt has had a die-hard, cult-like community for the past 2 years, and our ambition is to fulfill its potential as one of the largest Web3 brands,” said OSF. “With the sell-out of our drinks last week, that’s 222,456 times someone is going to pick up a can with the Rekt logo and a Rektguy on it. It’s a magnitude higher for us in terms of brand awareness.”

With this new funding, Rekt is poised to expand its product lineup, strengthen its brand awareness in and outside of Web3, while further bridging digital culture with physical consumer products. The Rekt community remains at the heart of the brand’s mission, with upcoming projects that will continue to empower, engage, and reward its dedicated supporters.

About Rekt

Rekt Brands Inc. (https://x.com/rektbrands) is the parent company that owns the Rektguy NFT project, Rekt Drinks, and the Rekt brand intellectual property. Established from the success of the Rektguy NFT collection by artist Ovie Faruq (OSF), the brand has expanded into consumer goods and groundbreaking community equity models. Rekt aims to redefine brand ownership and engagement through its Web3 foundation, innovative products, and viral global community.

In a big step for decentralized technology, Deutsche Telekom MMS has partnered with Meta Pool as part of its Enterprise Node Operator (ENO) program, becoming the first telecommunications giant to operate a validator node on the NEAR blockchain. This collaboration not only enhances NEAR’s network security and decentralization but also signals a new era of enterprise-driven blockchain adoption, powered by Meta Pool.

Meta Pool, a leader in liquid staking solutions on NEAR, developed the ENO program to connect established industry leaders with the decentralized ecosystem. By joining this initiative, Deutsche Telekom provides NEAR with enterprise-grade infrastructure that boosts both network reliability and performance. This partnership marks a milestone in Meta Pool’s mission to transform the decentralized ecosystem, elevating NEAR’s technology to new levels of scalability and security through trusted industry partnerships.

About Meta Pool

Meta Pool is a multi-chain liquid staking ecosystem and a DAO with multi-chain governance on NEAR and Ethereum. It offers Vote-to-Earn governance rewards, Liquid Staking Tokens on Ethereum, NEAR, Solana, Aurora, ICP, and Q, and Solana's first restaking aggregator, supporting mpSOL, jitoSOL, bSOL, and SOL. Meta Pool makes liquid staking simple and accessible across multiple blockchains, with plans for further expansion.

A Visionary Collaboration for Decentralized AI and Blockchain Innovation

Meta Pool’s (https://www.metapool.app/) ENO program was designed to bridge traditional and decentralized worlds, creating a robust and resilient network on NEAR through partnerships with industry leaders. By joining this initiative, Deutsche Telekom empowers NEAR with the infrastructure to support decentralized applications at scale, opening doors for new advancements in AI, blockchain scalability, and multi-chain interoperability. With Meta Pool’s ENO program as the foundation, Deutsche Telekom is taking a leap toward reimagining the future of decentralized networks.

"NEAR stands out as an ecosystem that shares our vision of combining blockchain and AI with a decentralized approach that prioritizes data privacy and security," said Oliver Nyderle, Head of Digital Trust & Web3 Infrastructure at Deutsche Telekom MMS. "Together, we’re breaking new ground and building a future that connects these technologies in ways never seen before."

Meta Pool, Deutsche Telekom, and NEAR: Building a User-First, Decentralized Future

In an era where data sovereignty and transparency are paramount, Meta Pool’s ENO program brings companies like Deutsche Telekom into the NEAR network, securing blockchain and AI solutions that empower users. This partnership sets the stage for a privacy-focused, decentralized future, championed by industry leaders committed to the transformative power of blockchain.

“This partnership is a turning point for NEAR, Meta Pool, and our Enterprise Node Operator program,” said Claudio Cossio, Meta Pool’s co-founder. “With Deutsche Telekom’s world-class infrastructure expertise, we’re taking NEAR’s protocol to unprecedented levels of decentralization and resilience.”

NEAR Protocol - A Unique Foundation for Decentralized Innovation

NEAR is a high-performance, environmentally sustainable Layer 1 blockchain built to host decentralized applications for millions of users. Thanks to its unique sharding technology, NEAR enables fast, energy-efficient transactions, making it a “green” alternative within blockchain technology. NEAR aligns with Meta Pool’s mission to advance accessible, eco-friendly blockchain solutions that support a more inclusive digital future.

Through Meta Pool’s ENO program, Deutsche Telekom gains access to cutting-edge blockchain insights, reinforcing its leadership in decentralized AI. This partnership reflects a shared commitment to exploring Web3 possibilities, setting the stage for a more transparent, secure, and innovative digital world.

Warped Games, an indie game studio consisting of web3 and veteran game developers who have a legacy in creating player-focused games like LEGO Universe, Jumpgate, and Dragons and Titans, is on a mission to onboard millions of players to expand the Warped Universe, an immersive blockchain-powered game where players’ actions and decisions shape the environment and influence each season’s direction. After extensive exploration, Warped Games selected Sui as the blockchain to support this ambitious vision, thanks to its player-friendly approach and innovations in the Move language.

The announcement of Warped Games becoming an official partner with Mysten Labs arrives at a pivotal moment for blockchain gaming. With games like "Off The Grid" making strides toward mainstream adoption, this new collaboration marks another significant step in expanding blockchain gaming’s reach to a wider audience.

James Wing, Head of AAA Gaming Partnerships for Mysten Labs, commented on the official partnership: "Warped Games embodies what is exciting about this industry - founders and products that are built with passion to boldly address the wants of modern gamers. We are tremendously excited to partner with our friends at Warped and aid them in their journey to pioneer a new age of games on Sui."

Warped Universe: Empowering Players

Player empowerment is at the core of Warped Universe’s design. Here, players will be able to engage in PvE action in single-player or co-op mode, with an innovative multi-genre design giving players the flexibility to choose between turn-based or real-time genres across both ground and space gameplay. Players will also get to choose missions that influence the broader “meta-game,” affecting the balance of light and gravity for all, leading to wild and chaotic scenarios as each season aims to build a unique solar system in the Universe. This level of control redefines what it means to participate in a player-driven virtual world.

Breaking Barriers to Blockchain Accessibility

One of the largest obstacles facing blockchain adoption today is its intimidating complexity for newcomers. Traditional blockchain experiences involve managing seed phrases, navigating wallets, high fees, slow speed, and unfriendly, often intimidating transactions—barriers that can alienate potential users. Sui’s design eliminates these hurdles by offering a seamless, user-friendly blockchain experience required by games like Warped Universe, aiming to appeal to a mainstream gaming audience.

With Sui’s zkLogin feature, players can access the blockchain and create wallets using familiar credentials, like passkeys or existing logins, removing the need for seed phrases and technical know-how. For those who prefer greater control, Warped Universe will also allow players to connect their own self-custodied wallets, giving them the option to manage their assets independently. This accessibility empowers users to focus on what matters most—the game experience itself.

Enhanced NFT Utility with Move

Sui’s Move language and object model empower Warped Universe to create NFTs that go beyond static assets, offering dynamic, context-rich tokens that evolve with each player’s journey. Sui treats each asset as an individual, on-chain object with unique IDs and customizable fields, allowing NFTs to reflect player progression and deepen in-game immersion.

Innovations extend to the use of closed-loop tokens for in-game purchases and season pass NFTs, which act as "time capsules", allowing players to revisit exclusive content from past seasons. With each season in Warped Universe serving as a self-contained story arc, these season passes aren’t just NFTs—they’re gateways to the game’s evolving history, creating lasting value and enhancing player ownership.

Kiosk: Marketplace Re-Imagined

Kiosk is a decentralized system designed for commerce applications on the Sui network, similar to traditional markets where vendors sell goods or services from small, standalone booths. Just like in those markets, where individual sellers operate their own kiosks, owning the products on display and managing their own sales, with Kiosk, shared objects are owned by individual parties who store assets and may list them for sale as well as utilizing custom trading functionality, such as royalties and the ability to rent assets.

Walrus: Re-Defining Digital Ownership in Warped Universe

As Warped Universe expands, decentralized storage will play a crucial role in ensuring the authenticity and accessibility of in-game assets. Mysten Labs’ Walrus protocol is set to support this need, providing a secure and efficient way to store raw data and media files—such as images, audio, video, and other game assets—at low cost without compromising performance. Unlike traditional NFTs, which often store metadata off-chain on platforms like IPFS or AWS, Walrus enables both the NFT and its metadata to be stored in a decentralized manner. This integration introduces new ways for players in Warped Universe to experience genuine ownership of their digital assets, giving them the ability to store in-game captures or statistics, and creating a more immersive and reliable player-driven experience.

High Performance, Scalability, and Environmental Responsibility

In Warped Universe, players aren’t just playing a game; they’re building and defending entire solar systems each season, with their achievements and digital assets minted and transacted on-chain in the background. This model requires a blockchain capable of handling high transaction volumes both efficiently and affordably. Sui’s high throughput and low transaction costs make this possible, providing fast, cost-effective, and seamless on-chain transactions that support a robust gaming economy.

Sui also prioritizes environmental sustainability by using a delegated proof-of-stake (DPoS) consensus model rather than energy-intensive proof-of-work. With its efficient Directed Acyclic Graph (DAG) architecture, Sui can process large transaction volumes with minimal environmental impact—aligning perfectly with Warped Games’ vision of a sustainable, responsible gaming ecosystem.

“With Sui, we can create an immersive, evolving on-chain gaming ecosystem where players can own, modify, and evolve assets without compromising the gaming experience,” said Adam Straney, Managing Director at Warped Games. “This approach lets us build an interconnected universe on a blockchain that’s fast, scalable, and environmentally responsible, supporting our vision of an accessible, seamless player-owned economy. Gamers can focus on having fun, with blockchain as a supportive tool rather than the centerpiece."

Looking Ahead with Warped Universe and Sui

Currently, the blockchain element in Warped Universe is the $WARPED token, an ERC-20 token designed to give holders a voice in game design, seasonal voting, discounts, potential rewards, and exclusives. While specific plans for the token’s future are yet to be announced, the Warped Universe team is committed to keeping current holders top of mind as they explore expanding to the Sui blockchain. Plans for the WARPED token, on-chain assets, skins, seasonal passes, and other elements will be shared in due time—stay tuned for updates.

As Warped Universe continues to develop, the teams at Warped Games and Mysten Labs are dedicated to working closely together to explore practical blockchain integration in games, enhancing player ownership, scalability, and immersive gameplay. Together, through Warped Universe and the Sui blockchain, they’re building a unique, player-driven experience that showcases the future of blockchain gaming.

About Warped Games

Warped Games (https://warped.games/) is an indie game studio dedicated to creating immersive, player-driven gaming experiences with a focus on blockchain integration. Known for pushing the boundaries of web3 technology, the team behind Warped Games combines industry veterans from both gaming and tech to bring innovative worlds like Warped Universe to life.

About Mysten Labs

Mysten Labs is a technology company focused on advancing blockchain infrastructure to support next-generation applications. Founded by experts in distributed systems, Mysten Labs developed the Sui blockchain, a high-performance, user-friendly platform designed to make blockchain technology accessible and scalable for mainstream audiences.

In brief from WPAC's note:

• September quarter Wage Price Index below the RBA’s expectation which pointed to a 0.9%qtr rise in both the September and December quarters of 2024
• Wage inflation peaked at 4.3%yr in December 2023 and has been drifting lower through 2024
• Wage Price Index (WPI) rose 0.8% (3.5%yr) ... The RBA is currently forecasting annual wages growth to print 3.4%yr for end 2024 and hold at that rate through to June 2025.

***

The WPI should easily come in under that RBA forecast by end 2024. While some will point to slowing wages as a reason to cut rates the RBA is in no hurry, still war of elevated demand and inflation likely to pop back above the top of the 2 - 3% target band once government cost of living subsidies roll off.

0945 GMT / 0445 US Eastern time - Bank of England policymaker Catherine Mann is a panellist on the Female Central Bankers panel organised by BNP Paribas’ Global Markets

*

The Bank of England cut last week

• Forexlive Americas FX news wrap 7 Nov: FOMC/BOE cuts by 25 basis points

Expectations are for slower cuts ahead:

• More gradual Bank of England rate cuts = support for GBP

Later today, Wednesday, 13 November, we get the US consumer inflation data for October 2024

• due at 1330 GMT, which is 0830 US Eastern time

Previews posted already:

• US CPI to be released tomorrow at 8:30 AM. Expectations are for 0.2% MoM

• US CPI data due Wednesday - possible upside surprise.
• US inflation data this week expected to show core CPI moving sideways - risk ahead higher

OK, what to expect. This snapshot from the ForexLive economic data calendar, access it here.

Taking a look at the range of expectations compared to the median consensus (the 'expected' in the screenshot above) for the key data points:

CPI Headline y/y, expected 2.6% with the range showing:

• 2.3% - 2.7%

CPI Headline m/m expected 0.2% with the range showing:

• 0.1 to 0.3%

CPI excluding food and energy (the core rate of inflation) y/y expected 3.3% with the range showing:

• 3.2 - 3.4%

CPI excluding food and energy (the core rate of inflation) m/m expected 0.3% with the range showing:

• 0.2 to 0.4%

***

Why is knowledge of such ranges important?

Data results that fall outside of market low and high expectations tend to move markets more significantly for several reasons:

• Surprise Factor: Markets often price in expectations based on forecasts and previous trends. When data significantly deviates from these expectations, it creates a surprise effect. This can lead to rapid revaluation of assets as investors and traders reassess their positions based on the new information.

• Psychological Impact: Investors and traders are influenced by psychological factors. Extreme data points can evoke strong emotional reactions, leading to overreactions in the market. This can amplify market movements, especially in the short term.

• Risk Reassessment: Unexpected data can lead to a reassessment of risk. If data significantly underperforms or outperforms expectations, it can change the perceived risk of certain investments. For instance, better-than-expected economic data may reduce the perceived risk of investing in equities, leading to a market rally.

• Triggering of Automated Trading: In today’s markets, a significant portion of trading is done by algorithms. These automated systems often have pre-set conditions or thresholds that, when triggered by unexpected data, can lead to large-scale buying or selling.

• Impact on Monetary and Fiscal Policies: Data that is significantly off from expectations can influence the policies of central banks and governments. For example, in the case of the inflation data due today, weaker than expected will fuel speculation of nearer and larger Federal Open Market Committee (FOMC) rate cuts. A stronger (i.e. higher) CPI report will diminish such expectations. the December meeting is in focus right now.

• Liquidity and Market Depth: In some cases, extreme data points can affect market liquidity. If the data is unexpected enough, it might lead to a temporary imbalance in buyers and sellers, causing larger market moves until a new equilibrium is found.

• Chain Reactions and Correlations: Financial markets are interconnected. A significant move in one market or asset class due to unexpected data can lead to correlated moves in other markets, amplifying the overall market impact.

We had Fed speakers on Tuesday US time, Kashkari watered down the prospect of a December rate cut ... didn;t rule it out but he sounds shaky:

• Fed's Kashkari: The fundamentals seems strong and I'm optimistic that will continue
• Fed's Barkin: Fed in position to respond appropriately regardless of how economy evolves
• Fed's Waller: Makes no comments on economy or monetary policy outlook

The agenda ahead includes another three. The times below are GMT/US Eastern time format:

• 1435/0935 Federal Reserve Bank of Dallas President Lorie Logan gives opening remarks before hybrid "Energy and the Economy: Meeting Rising Energy Demand" Conference hosted by the Federal Reserve Banks of Dallas and Kansas City
• 1800/1300 Federal Reserve Bank of St. Louis President Alberto Musalem speaks before an Economic Club of Memphis luncheon
• 1830/1330 Federal Reserve Bank of Kansas City President Jeffrey Schmid gives luncheon keynote before hybrid "Energy and the Economy: Meeting Rising Energy Demand" Conference hosted by the Federal Reserve Banks of Dallas and Kansas City

The dollar continues to sit in a good spot this week, holding gains ahead of the main event later today. It's all about the US CPI report and markets are likely to remain more tentative up until then. As for the bigger picture, the post-election sentiment continues to play out for the most part and that remains the larger focus.

For now, USD/JPY is one to watch as it closes in on the 155.00 mark currently. That will mark the first time since the end of July that the pair is taking a run at the figure level. Is Tokyo going to step up with their verbal interventions? There's going to be little technical resistance in between this pocket here and 160.00 next.

Besides that, EUR/USD is also in focus as the pair closes in on the April low of 1.0601. Large option expiries are in play for now but it's hard to ignore the stronger dollar post-election. If that breaks, sellers will be eyeing the 1.0500 level next before the October lows from last year seen at 1.0448-51.

The economy ministry notes that in light of the US election result, renewed uncertainty among German households and firms cannot be ruled out. It goes without saying that Trump tariffs on German exports is of course the big risk to watch out for. But indirectly, Trump's tariffs on China will also have some impact on the EU market. If China finds it tough to export goods to the US, they might look to flood the market in Europe instead. That's some other form of risk to be mindful about.

• Headline CPI reading not telling us that underlying inflation dynamics have been vanquished
• Services inflation is pretty sticky
• Energy prices are more likely to go up than down
• Sees more volatility and upward bias to some inflation drivers

Do keep in mind that Mann is arguably the most hawkish member among the BOE policy committee. So, her comments here are not as striking as they might seem to be.

For some context, these subsidies did come to an end in May but were reinstated in August through to October to cope with the warmer weather. Subsequently, they were continued until this year-end but the funds had to be drawn from reserves in the budget for the fiscal year that started in April.

NHK is now reporting that the government is considering keeping these subsidies from January through to March next year. Amid a higher cost of living in key populated areas such as Tokyo, the measure above is mainly to try and combat rising consumer prices.

WASHINGTON, D.C. – Given broadcasters' integral role in educating the public on COVID-19 and vaccine deployment, the National Association of Broadcasters (NAB) has joined the COVID Collaborative, a national assembly of experts and organizations working on unified action against the COVID-19 pandemic. NAB President and CEO Gordon Smith will serve on the Collaborative’s National Advisory Council.

Washington, D.C. – The National Association of Broadcasters (NAB), the Donald W. Reynolds Journalism Institute (RJI) and the National Association of Chain Drug Stores (NACDS) today announced the launch of an online toolkit to help local journalists craft COVID-19 vaccine education messages that best resonate with their audiences. The toolkit is designed to provide journalists with information and resources to create news reports, public service announcements and other messages related to vaccine safety, effectiveness and distribution.

WASHINGTON, D.C. – The National Association of Broadcasters (NAB) today announced the creation of an advisory committee to the NAB Board of Directors that will provide insights and suggestions on diversity, equity and inclusion (DEI) issues. The committee will consist of senior-level broadcasters who are women and people of color, and may include current NAB and NAB Leadership Foundation (NABLF) board members who are committed to advancing DEI issues in broadcasting.

WASHINGTON, D.C. – Today, the House Judiciary Subcommittee on Antitrust, Commercial, and Administrative Law is holding a hearing titled "Reviving Competition, Part 2: Saving the Free and Diverse Pres."

WASHINGTON, D.C. – The National Association of Broadcasters has announced the results of the 2021 NAB Radio and Television Board elections. The two-year terms of the elected board members will begin in June 2021.

WASHINGTON, D.C. – NAB President and CEO Gordon Smith testified today before the Senate Commerce Committee's Subcommittee on Communications, Media, and Broadband at a hearing titled "Shot of Truth: Communicating Trusted Vaccine Information."

Washington, D.C. -- NAB Show Premiere will examine the future impact of edge technology on radio and television broadcasters during a session titled “Livin’ on the Edge: Advances in Computing and Networking to Drive Innovation in Broadcasting.” The session, which will air on Wednesday, April 21st at 3 p.m. ET and be available on-demand, will present a new study about opportunities created by wider adoption of edge technologies in the next three to four years.

WASHINGTON, DC -- Eight members of the House of Representatives have added their support to a resolution opposing "any new performance fee, tax, royalty, or other charge" on local broadcast radio stations. The Local Radio Freedom Act (LRFA), which signals members of Congress's opposition to any potential legislation that imposes new performance royalties on broadcast radio stations for music airplay, now has 87 cosponsors in the House and eight in the Senate.

WASHINGTON, DC -- Twenty-five members of the House of Representatives and six Senators have added their support to a resolution opposing "any new performance fee, tax, royalty, or other charge" on local broadcast radio stations. The Local Radio Freedom Act (LRFA), which signals members of Congress's opposition to any potential legislation that imposes new performance royalties on broadcast radio stations for music airplay, now has 112 cosponsors in the House and 14 in the Senate.

WASHINGTON, DC -- Twelve members of the House of Representatives and one Senator have added their support to a resolution opposing "any new performance fee, tax, royalty, or other charge" on local broadcast radio stations. The Local Radio Freedom Act (LRFA), which signals members of Congress's opposition to any potential legislation that imposes new performance royalties on broadcast radio stations for music airplay, now has 124 cosponsors in the House and 15 in the Senate.

Washington, D.C. -- As founding members of the Biden Administration’s COVID-19 Community Corps, the National Association of Broadcasters (NAB) is urging all local radio and television stations to participate in a National Month of Action beginning June 4 to provide COVID-19 vaccine education and help ensure all Americans understand the importance of getting vaccinated.

WASHINGTON, DC -- Fourteen members of the House of Representatives and three Senators have added their support to the Local Radio Freedom Act (LRFA) opposing "any new performance fee, tax, royalty, or other charge" on local broadcast radio stations bringing the number of cosponsors to 138 in the House and 18 in the Senate. The National Religious Broadcasters (NRB) expressed their support for the resolution, which signals members of Congress's opposition to any potential legislation that imposes new performance royalties on broadcast radio stations for music airplay, in a letter to congressional leaders on June 11.

Washington, D.C. -- Award-winning journalist Lester Holt will be inducted into the National Association of Broadcasters (NAB) Broadcasting Hall of Fame for his contributions to broadcast television at the 2021 NAB Show, held October 9–13 in Las Vegas. Holt will accept the honor at the NAB Show Welcome event on Monday, October 11 at 9 a.m. PDT.

WASHINGTON, D.C. -- Eleven members of the House of Representatives have added their support to a resolution opposing "any new performance fee, tax, royalty, or other charge" on local broadcast radio stations. The Local Radio Freedom Act (LRFA), which signals members of Congress's opposition to any potential legislation that imposes new performance royalties on broadcast radio stations for music airplay, now has 149 cosponsors in the House and 18 in the Senate.