“The SEC’s @SECGov X/Twitter account has been compromised. The unauthorized tweet regarding bitcoin ETFs was not made by the SEC or its staff,” an SEC spokesperson told US media outlets. A false social media post said that the SEC had approved bitcoin ETFs for trading. The price of bitcoin briefly …
Read More »EUR/USD Holds Steady Amid Tariff Tensions, Eyes Turn to EU Economic Data
Modest Gains Amid Holiday-Thinned TradingThe EUR/USD pair edged up by 0.18% on Friday, trading at 1.…
Global Markets Wobble as Trump’s Tariff Deadline Draws Near
Global stock markets faltered on Friday, gripped by uncertainty as U.S. President Donald Trump’s Jul…
Sterling Falters Against Yen Amid Tariff Fears and UK Political Strife
The British Pound (GBP) weakened against the Japanese Yen (JPY), with GBP/JPY slipping below 197.61,…
WTI Crude Oil Stalls Near $65 as OPEC+ and Tariff Uncertainties Loom
West Texas Intermediate (WTI) Crude Oil prices hovered near $65.70, down 0.82%, reflecting cautious …
Gold Shines Amid Tariff Threats and U.S. Dollar Weakness
Gold (XAU/USD) climbed above $3,330, driven by a weakening U.S. Dollar and renewed concerns over U.S…
U.S. Dollar Edges Lower Ahead of Trade Deadline Amid Fiscal and Market Uncertainty
The U.S. dollar saw a slight dip on Friday after a brief rally earlier in the week, with attention n…
Markets Brace for U.S. Tariff Deadline Amid Growing Optimism
As investors turn their attention to Washington’s tariff negotiations next week, the expiratio…
European Stocks Slip Amid Uncertainty Ahead of U.S. Trade Deadline and Ongoing Tariff Concerns
European stocks ended the week on a negative note, slipping lower on Friday as uncertainty grew over…
Bitcoin Struggles as U.S. Trade Tariffs Loom and Rate Cut Bets Fade
Bitcoin prices steadied on Friday after a sharp reversal of recent gains, as traders focused on the …
Oil Prices Decline Amid Nuclear Talks and OPEC+ Output Expectations
Oil futures fell on Friday as market participants reacted to ongoing geopolitical developments and e…
Market Analysis
January, 2024
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10 January 2024 2:45 am
Will Avoiding Gov. Shutdown Need Another Congressional Deal?
The ongoing debate on funding this year’s federal obligations, including the US debt ceiling and top line spending cuts, is not over. Some economists believe that the top line figures are not satisfactory and lawmakers are still not satisfied with spending priorities.The current political circumstances in Washington are not conducive …
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10 January 2024 2:14 am
Gold lacks real catalyst ahead of US inflation data
Although gold attracted some buyers on Tuesday, the precious metal struggled to benefit from the move up. The precious metal is trading at $2029.70 per ounce at the time of writing. The Fed’s policy stance is expected to change due to a decrease in consumer inflation expectations, which could potentially …
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10 January 2024 1:00 am
Barr: Fed’s bank funding program came to an end
The Fed’s Bank Term Funding Program, which was launched during last year’s regional banking crisis, is set to end without extension according to Michael Barr, the Fed’s vice chair for supervision.The program, which allowed banks and credit unions to borrow funds for up to a year, has seen a surge …
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10 January 2024 12:13 am
CAD impacted as Canadian Trade Balance falls short
The Canadian dollar has experienced a significant decline, with the International Merchandise Trade and building permits falling more than anticipated. The recovery of the crude oil market is limiting the support of the Canadian currency. The Canadian dollar reached a new low for the week on Tuesday, with markets retreating …
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9 January 2024 10:32 pm
Why have commodities had a challenging year in 2023?
The United States has become the world’s largest exporter of liquefied natural gas for the first time ever, surpassing top suppliers Australia and Qatar. This surge in LNG exports is driven by Freeport LNG’s return to full service and robust global demand, particularly from Europe. With an average of 13.25 …
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9 January 2024 10:06 pm
GBP/USD faces mild losses amid market risk aversion
With losses averaging approximately -0.40%, the GBP/USD pair is trading close to the 1.2695 mark. The US dollar appeared to have recovered from Monday’s earlier decline. Following mixed data last week, markets recalculated Fed expectations as investors focused more on the impending CPI report.The GBP/USD pair saw a decline in …
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9 January 2024 9:11 pm
Hays shares fall after difficult December
Hays, a UK recruitment group, has reported a decline in activity in the UK and Ireland due to a slowdown in the volume of individuals securing permanent roles. The company’s first-half profits are expected to be £60mn, below current market expectations. Hays shares fell as much as 18% on Tuesday …
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9 January 2024 8:18 pm
100,000 firms positively respond to Yellen’s war against dirty money
Treasury Secretary Janet Yellen has announced that 100,000 businesses have joined a new database that collects “beneficial ownership” information on firms as part of a government effort to unmask shell company owners. The database will support law enforcement in making arrests, prosecuting offenders, and seizing ill-gotten assets. The bipartisan Corporate …
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9 January 2024 7:39 pm
Dollar Higher, Nasdaq lower ahead of Barr’s Speech
The US Dollar is trading in the green on Tuesday’s European morning, posting gains against most G20 currencies. However, the dollar was easing a touch as a firm risk-on tone returned on Monday in US equity markets. Earlier on Tuesday, Asian stocks took over the mood on Tuesday, with the …
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9 January 2024 5:33 pm
Bitcoin jumps 6% to levels exceeding $46,600
Bitcoin jumped 6% during January 9 trading as investors awaited potential regulatory approval of a US Bitcoin exchange-traded fund this week. In mid-trading on Tuesday, January 9, the price of Bitcoin reached more than $46,600, after recording $46,840, i.e. the highest level since April 2022. The number of Bitcoins mined …
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9 January 2024 3:16 pm
Chinese Passenger Car Sales Show Resilience with an 8.3% Rise in December
Despite moderating from the previous month’s notable surge, passenger car sales in China demonstrated robust growth, increasing by 8.3 percent in December. This uptick was fueled by a competitive price war among manufacturers. According to the China Passenger Car Association’s report on Tuesday, sales reached 2.37 million vehicles in December, …
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9 January 2024 2:05 pm
Mixed Market Sentiments Impact Dollar, Cryptocurrencies Remain Resilient
The upward momentum of the US dollar encountered resistance on Tuesday as traders maintained their expectations of multiple interest rate cuts by the Federal Reserve this year, citing signs of slowing US inflation. Meanwhile, in the cryptocurrency sphere, Bitcoin continued to hover near its highest level since April 2022, driven …
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