Market Update

Bitcoin’s record rally topped $107,000 on Monday after President-elect Donald Trump reiterated that he plans to create a US bitcoin strategic reserve similar to its strategic oil reserve, stoking the enthusiasm of crypto bulls. Markets Brace for Fed’s Rate DecisionThe US Dollar dipped slightly on Monday as investors turned their …

President-elect Donald Trump has pledged to lower consumer prices that have soared since the pandemic, explaining how he would do so by repeating a simple mantra: “Drill, baby, drill.” He is expected to speed drilling permits that took an average of 258 days to complete during the Biden administration, hold …

The stock market saw a year-end rally for tech companies and other fast-growing businesses, with the tech-heavy Nasdaq Composite up more than 1% in recent trading. Broadcom’s revenue surge and dividend increase last week added to the momentum for tech stocks. A rebound in bond yields has helped drag on …

Bank of Canada Governor Tiff Macklem gave significant statements before the Vancouver Board of Trade on Monday, spinning an expected drag on Canadian economic growth as a positive on the hopes that lagging growth at the nation-wide level could, in theory, limit a re-ignition in inflationary pressures.Key QuotesBig structural changes …

US Treasury yields have faced difficulties in sustaining their upward momentum since the opening bell on Wall Street on Monday. This is largely due to the growing expectation that the Federal Reserve will cut interest rates next Wednesday. Such a move would typically push yields on these sovereign securities downward.The …

A Cautious Market Awaits the FedGold prices maintained a steady footing on Monday, as investors braced for the Federal Reserve’s interest rate decision. The precious metal, often seen as a hedge against inflation and economic uncertainty, was buoyed by a combination of factors, including expectations of a rate cut and …

The European Central Bank (ECB) is cautiously navigating a complex economic landscape as it seeks to balance price stability with economic growth. While the central bank has signaled its intention to continue lowering interest rates, it has emphasized the need for a gradual and data-driven approach.A Delicate Balancing ActECB Executive …

The US economy is painting a picture of divergence as we approach the end of 2024. While the services sector is thriving, the manufacturing industry continues to face headwinds.The recent S&P Global survey highlights the stark contrast between these two sectors. The US Services PMI surged to a 38-month high …

The US Dollar (USD) gained strength on Monday, as positive economic data bolstered investor sentiment. The preliminary S&P Global Services Purchasing Managers’ Index (PMI) for December came in at 58.5, significantly surpassing expectations of 55.7 and the previous reading of 56.1. This robust figure indicates a strong expansion in the …

The U.S. dollar remained near a three-week peak against major currencies on Monday as financial markets braced for a busy week of central bank policy meetings. Investors are closely watching the Federal Reserve, which is widely expected to lower interest rates while signaling a gradual approach to further easing throughout …