The recent approval of 11 spot bitcoin exchange-traded funds (ETFs) by the Securities and Exchange Commission (SEC) signifies a potential turning point for cryptocurrency investing. Led by industry veteran Cathie Wood, these new ETFs aim to promote the democratization of bitcoin access and provide more opportunities for investors. Wood, the CEO and Chief Investment Officer
Wells Fargo, one of the largest banks in the United States, reported a rise in fourth-quarter profit from a year ago. However, despite the positive news, the bank’s shares fell more than 1% before the market opened on Friday. The reason behind this decline was the bank’s warning about the potential for significantly lower net
The past trading session saw the EUR/USD pair closing slightly higher at 1.09736, representing a modest increase of 0.01%. Similarly, the GBP/USD pair experienced an uptick and closed at 1.27628, marking a rise of 0.16%. Concurrently, the US Dollar Index (DXY) also edged up by a negligible 0.01%, closing at 101.965. In the Eurozone, the
The AUD/USD pair has been showing signs of an upward movement, with the potential to rally if it manages to clear the resistance level of 0.6725. Starting from the support level of 0.6650, the Aussie Dollar has made a fresh increase, surpassing the resistance levels of 0.6680 and 0.6695 against the US Dollar. This positive
China and Russia have recently achieved a significant milestone in their economic relationship, with two-way trade between the two countries reaching $240 billion in 2023, according to Chinese customs data. This record-breaking figure reflects their efforts in bolstering economic ties, despite the ongoing conflict in Ukraine and Western sanctions on Russia. China has emerged as
EUR/GBP faces challenges as improved production data from the United Kingdom puts downward pressure on the Euro. The UK Manufacturing Output MoM rose by 0.4% in November, exceeding expectations. Additionally, Manufacturing Production YoY increased by 1.3%, although it fell short of expectations for a 1.7% growth. These positive indicators from the UK’s industrial sector have
China’s exports experienced a welcomed boost in December, showcasing a faster growth rate compared to the previous month. However, it is important to recognize that deflationary pressures continued to persist, indicating the need for further policy easing measures to strengthen an economy that still bears significant weaknesses as it enters 2024. While this surge in
The US stock market experienced a tumultuous day on Thursday as higher-than-expected inflation figures shook investor confidence. The Consumer Price Index (CPI) inflation came in broadly above market expectations, leading to a decline in equity indexes and a surge in safe-haven assets. However, the market managed to regain its footing later in the day, thanks
The annual inflation rate saw a slight uptick in December, ending a two-month decline. While some might find this concerning, economists argue that the reversal is not necessarily a cause for alarm and could even be misleading. According to Sarah House, a senior economist at Wells Fargo Economics, the country is still making progress in
Argentina’s annual inflation rate has reached a staggering 211% in December, marking its highest level since the early 1990s. The newly-elected libertarian President Javier Milei has implemented tough austerity measures in an attempt to combat hyperinflation. This article will delve into the causes and consequences of Argentina’s skyrocketing inflation rate. As a response to the
Japan’s Nikkei225 index has reached new highs, surpassing levels not seen since February 1990. The recent surge in the index has been attributed to several factors, including a significant drop in expectations that the Bank of Japan would unwind its ultra-soft monetary policy. Additionally, the aftermath of the 1 January earthquake and a slower growth
The Federal Reserve officials have projected a possible cut in the benchmark overnight interest rate in 2024. However, the timing and pace of these reductions will depend on several key factors, including inflation and jobs data. The upcoming policy meeting of the Federal Reserve, scheduled for January 30-31, will provide further insight into the potential