Bitcoin managed to climb higher in 2023
Bitcoin has experienced a significant recovery in 2023, with a 164% increase since January 1 and a market cap above $40,000. The cryptocurrency has outperformed gold and the S&P 500, with Ether’s price rising 95%. The surge was driven by investors hoping for a U.S. spot bitcoin ETF and looser monetary policy. Centralized exchange spot…
Japan’s yen and China’s yuan slip on end years
The US dollar rose against Japan’s yen after the Bank of Japan indicated it didn’t need to halt negative interest rates in December, contrary to investor expectations. Chinese deflation increased in November, sending the yuan to a three-week low. The dollar index rose 0.16% to 104.13 due to the dollar’s advance versus the yen. Investors…
The Fed has been decreased funds rate since 1994
Since 1994, the Federal Reserve has initiated monetary policy meetings and has reduced the funds rate on around 10 occasions. These include July 1995, when the Fed decreased the funds rate to 5.75% due to inflation control, December 1995, when the rate was cut by 25 basis points, September 1998, January 2001, June 2003, September…
US, South Korea, and Japan pledged an agreements on security and economic
The US, South Korea, and Japan have agreed to respond to North Korea’s cyber threats, including cryptocurrency abuses and space launches. The meeting follows the Camp David trilateral summit, where President Joe Biden and two Asian allies pledged to deepen security and economic ties. The combined actions will target economic coercion after completing Camp David’s…
China’s CPI drop due to weak domestic and international demands
Chinese consumer prices fell the fastest in three years in November, with the Consumer Price Index (CPI) falling 0.5% from October and a year earlier. This is the most significant year-over-year CPI fall since November 2020. The weak domestic demand casts doubt on the economic recovery, and recent mixed trade data and factory surveys have…
Labor market and US economy are turning into better pace
The November jobs data suggests job growth is likely to re accelerate after worker strikes slowed in October. Nonfarm payrolls grew 185,000 in November, while the unemployment rate remained constant at 3.9%. Wall Street is expected to focus on these numbers, as investors believe the Fed is done raising rates and expect cuts in 2024.…
Oil prices slip due to lack of orders and weak demand
Oil benchmarks recovered after global supply excess and poor Chinese demand threatened a weekly loss. Brent crude prices rose by 2.6% to $75.98 a barrel, while West Texas Intermediate futures rose by 2.6% to $71.16. Both benchmarks fell to their lowest since late June, indicating oversupply. OPEC+ members agreed to cut output by 2.2 million…
Bitcoin gain many interest to become exchange list
Industry executives have said discussions between the US Securities and Exchange Commission (SEC) and asset managers seeking to list bitcoin ETFs have reached technical details, suggesting the agency may soon approve the products. Thirteen companies, including Grayscale Investments, BlackRock, Invesco, and ARK Investments, have applied for bitcoin ETFs with the SEC. Proponents argue that a…