OIL STEADY AS MARKETS BRACE FOR OPEC+ SIGNALS AND RISING GEOPOLITICAL TENSIONS Oil prices little changed ahead of OPEC+ meeting and following 6% gains last week. Brent crude down by 0.23%, at $75.00 per barrel. U.S. WTI crude down by 0.32%, at $71.01 per barrel.
NEW US BILL PROPOSES SELLING GOLD TO BUY BITCOIN A new bill has been proposed by US Senator Cynthia Lummis. The bill aims to establish a national strategic reserve of Bitcoin. Lummis suggests selling part of the US Federal Reserve’s gold reserves to finance Bitcoin purchases. The proposal aligns
MICROSTRATEGY BUYS $4.6 BILLION WORTH OF BITCOIN IN HISTORIC DEAL The company bought 51,780 Bitcoin for about $4.6 billion. This is MicroStrategy's biggest Bitcoin acquisition since it began investing in 2020. MicroStrategy now holds more than $29 billion in Bitcoin. The Bitcoin was bought between
US FEDERAL RESERVE PREPARING A STRONG SURPRISE FOR MARKETS Nomura expects the US Federal Reserve to pause rate cuts in December 2024. Nomura anticipates two 25 basis point cuts in 2025 (March and June), leaving the federal funds rate at 4.125% through next year. Goldman Sachs and JPMorgan expect
GOLDMAN SACHS EXPECTS RBA AND NZRB TO CUT INTEREST RATES Goldman Sachs predicts the Reserve Bank of Australia (RBA) will cut rates by 25 basis points in February 2025. Goldman Sachs expects the Reserve Bank of New Zealand (NZRB) to cut rates by 50 basis points twice more. The final
The Week Ahead: UK Economy Stalls, UK CPI, Nvidia, Walmart, and JD Sports UK inflation data for October will be released, providing insights into the current economic situation. The Bank of England has already implemented 2 rate cuts as inflation slows, but the path for further rate cuts may be
Oil Falls Sharply, Dollar Declines, Bitcoin Recovers October retail sales grew by 0.4%, slightly above the expected 0.3% growth. The dollar declined following the release of the retail sales data. Oil prices fell sharply in response to market movements. Bitcoin showed signs of recovery amid market volatility. Strong
US Inflation Rises to 2.6% in October US CPI rose to 2.6% YoY in October, up from 2.4%, matching market expectations. Remained at 0.2% month-on-month, in line with estimates. Held steady at 3.3% annually and 0.3% monthly, unchanged from September. The rise in inflation
PEPE Hits New All-Time High, Rallies Nearly 50% After Robinhood and Coinbase Listing PEPE surged over 50% and hit a new all-time high following its listings on Robinhood and Coinbase. Coinbase added support for PEPE across its trading platforms. Robinhood also listed PEPE alongside other altcoins like Solana, XRP, and
Australia’s Unemployment Rate Steadies at 4.1% in October Held steady at 4.1% in October, in line with market expectations. Australia's employment rose by 15.9K in October, below the 25K forecast and a sharp slowdown from September's 61.3K (revised). Slight decline to
EUR/USD PIERCES 1.06, FINDS LOWEST BIDS IN A YEAR The pair lost a third of a percent on Tuesday, marking a third consecutive losing day. New Low: EUR/USD briefly dropped below 1.0600, hitting its lowest level in a year. The pair has been on a seven-week
EUR/USD Price Forecast: Drop to 2023 Low Near 1.0450? EUR/USD hit new 2024 lows near 1.0550 on Wednesday, marking a fourth consecutive decline. US Dollar Strength: The US Dollar continues to rally, with the Dollar Index (DXY) nearing 2024 highs around 106.50. October's