Crypto investors worldwide are anxiously awaiting a long-awaited ruling from the U.S. Securities and Exchange Commission (SEC) that could finally approve the trading of a spot bitcoin exchange-traded fund (ETF). This decision comes more than a decade after initial attempts to introduce a bitcoin ETF were rejected by the SEC. This time, however, things seem
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The US 500 cash index has been experiencing a continuous downward trend, with its sixth consecutive red candle marking a negative start to 2024. This correction in the index may see further decline if the upcoming data releases on Friday disappoint market participants. It is worth noting that despite the correction, the US 500 index
China, the world’s second-largest economy, has been considering implementing a substantial stimulus package to support its economy and drive up demand. This move is crucial for the Chinese economy as it accounts for one-third of Australian exports. The Australian economy heavily relies on trade, with a trade-to-GDP ratio above 50%. Additionally, about 20% of the
The USD/CAD pair has experienced a shift in momentum as Crude oil prices show signs of improvement. This has put downward pressure on the currency pair, with the Canadian Dollar (CAD) receiving upward support. In addition, heightened tensions in the Red Sea region have fueled the rise in Crude oil prices. This article delves into
South Korea’s government has recently announced its biannual economic policy plan, which prioritizes supporting people’s livelihoods and managing potential risk factors. This decision comes as the country reduces its GDP forecast for 2024 and raises its inflation projection. The finance ministry expects the economy to grow by 2.2% in 2024, a decrease from the initial
The AUD/JPY currency pair experienced moderate gains on Wednesday, recording a 0.46% increase. However, it started Thursday’s session on a slightly lower note, trading below the previous day’s close of 96.42. Despite this, the pair has shown potential for further gains as buyers reclaim the Kijun-Sen and find support around the bottom of the Ichimoku
China has emerged as a critical trading partner for Australia, accounting for one-third of its exports. Such dependency on China leaves the Australian economy vulnerable to fluctuations in Chinese demand. As the trade-to-GDP ratio of Australia stands above 50%, any weakening of Chinese demand would have a significant impact on the Australian economy, including its
The predicted rise of the benchmark 10-year Treasury note yield to its highest level since May 2001 has brought forth mixed opinions from experts. Wall Street forecaster Jim Bianco is at the forefront of this prediction, forecasting that the yield will reach 5.5% this year. This level has not been seen since the time of
The corporate bond market in the United States is experiencing a booming start in 2024, with companies raising nearly $16 billion in high-grade rated bonds in just one day. This follows a $29 billion issuance binge on the previous day, as companies seize the opportunity to take advantage of strong investor demand. The surge in
The EUR/USD faced another setback, slipping into the 1.0900 handle on Wednesday due to cautious remarks from the Federal Reserve (Fed) regarding rate cuts. This development has provided a significant boost to the US Dollar (USD), which has remained strong amidst a broader market recovery. With an absence of European Union (EU) data on Wednesday,
At the December 2023 policy meeting, U.S. Federal Reserve officials expressed growing confidence in their ability to control inflation. According to minutes from the meeting, officials believed that “upside risks” to inflation had diminished and expressed concern about the potential damage that overly restrictive monetary policy could inflict on the economy. As a result, there
The Federal Reserve officials have concluded that interest rate cuts are on the horizon for 2024, as stated in the minutes released from their December meeting. However, little clarity was provided regarding the timing of these potential cuts. During the meeting, the rate-setting Federal Open Market Committee decided to maintain its benchmark rate within a