Cryptocurrency markets tumbled sharply on Monday, as risk appetite took a hit following U.S. President Donald Trump’s decision to impose new trade tariffs on China, Canada, and Mexico. Market Impact: Bitcoin (BTC) plummeted 10% to $91,695.8 Ethereum (ETH) slumped 22.7% to $2,434.84 $TRUMP memecoin, launched by Trump in January, hit …
Read More »Weekly market recap: Was the greenback the biggest gainer last week?
US Dollar ended last week higher buoyed several market drivers, including concerns of Trump’s administration tariffs, Federal Reserve Bank rate decision and its chief Jerome Powell’s statements, and US data of inflation and spending. Such market drivers were impactful om the greenback and all other traded assets in global financial …
Read More »US dollar continues to rise on tariff concerns
US Dollar Continues to Rise Due to Tariff ConcernsThe US dollar continues its ascent, driven by anticipated US tariff threats, which may take effect on February 1st.These threats include those reiterated by US President Donald Trump since his official inauguration speech, stating his intention to impose a 25% tariff on …
Read More »Eurozone Inflation Expectations Tick Up as ECB Eases Policy
Eurozone inflation expectations continued to rise in December, according to recent surveys from the European Central Bank. Consumer inflation expectations for the next 12 months increased for the third consecutive month, while professional forecasters revised upward their projections for both this year and next.The ECB’s Consumer Expectations Survey revealed that …
Read More »Canadian Dollar Recovers After Tariff Threat Retreat
The Canadian Dollar staged a significant recovery on Friday, appreciating 0.65% against the US Dollar. This rebound followed a brief plunge to fresh multi-year lows triggered by the announcement of potential tariffs on Canadian goods. While the threat of immediate tariffs has been temporarily alleviated, concerns remain, and the Canadian …
Read More »Global Traders Navigate Disruption with New Supply Chain Strategies
Supply chain disruptions have become increasingly prevalent, forcing businesses worldwide to re-evaluate their strategies. A key response has been the rise of “nearshoring,” where companies source goods and services from closer geographical locations. While this approach offers potential benefits, it also presents limitations. For example, while local coffee chains may …
Read More »Inflation Holds Steady: Core PCE Still Above Target
The Federal Reserve’s preferred inflation measure, the Personal Consumption Expenditures (PCE) price index, edged higher in December, indicating that inflation remains modestly elevated above the central bank’s target.While the overall PCE increased to 2.6% year-over-year, the core PCE, which excludes volatile food and energy prices, remained unchanged at 2.8%, matching …
Read More »Exxon Mobil Surpasses Earnings Estimates but Falls Short on Revenue
Exxon Mobil Corporation (NYSE: XOM) reported strong fourth-quarter earnings that beat analyst expectations, though revenue came in lower than projected. Despite this, the company’s stock rose 0.9% following the announcement. Key Financial Highlights – Q4 2024: Earnings: $7.6 billion ($1.72 per share) Adjusted Earnings (Excluding Identified Items): $1.67 per share …
Read More »Suez Canal Chief Urges Maersk to Reconsider Red Sea Route Amid Stability Signs
The Suez Canal Authority (SCA) Chairman Osama Rabie has urged AP Moller-Maersk to reassess its shipping routes through the Red Sea, citing emerging signs of stability in the region, according to an official SCA statement. Key Developments: Rabie’s remarks came during a meeting with Maersk’s CEO and senior executives, though …
Read More »European Stocks Edge Higher as ECB Rate Cut Boosts Sentiment
European stock markets rose slightly on Friday, supported by the European Central Bank’s (ECB) interest rate cut, while investors assessed corporate earnings and inflation data across the region. Germany’s DAX gained 0.1%. France’s CAC 40 rose 0.2%. UK’s FTSE 100 climbed 0.2%. Key Market Drivers 1. ECB Rate Cut Fuels …
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