The Czech National Bank is thinking about adding Bitcoin to its reserves. Governor Ales Mitchell will propose investing 5% of the bank’s €140 billion reserves in Bitcoin. He believes Bitcoin can help diversify the bank’s assets. Even though Bitcoin is very volatile, he sees potential in digital assets.
Gold prices stayed the same on Wednesday. On Tuesday, gold went up by 0.83%. Investors are waiting for the US Federal Reserve’s first meeting of the year. The meeting’s decisions may affect gold prices in the future.
The Bank of England may reach its preferred lower reserve level later this year. We’re unsure about the ideal level of reserves. We’ve postponed Basel implementation due to uncertainty and competition concerns. Bailey supports the government’s growth efforts. Financial stability is crucial for growth, with no trade-off
Stocks were mostly unchanged as investors waited for the Federal Reserve's interest rate decision. The S&P 500 dropped by 0.2% and the Nasdaq fell by 0.4%. Nvidia shares decreased by 2%, continuing a rocky week for the company. The Dow Jones Industrial Average stayed
BANK OF CANADA GOVERNOR MACKLEM COMMENTS ON CAD AND RATE CUT The Bank of Canada (BoC) cut rates by 25 basis points on January 29, 2025. Governor Macklem stated that low inflation has been restored in Canada. The threat of tariffs is having a larger impact on the Canadian Dollar
EUR/USD DRIFTS LOWER POST-FED, AWAITS US GDP DATA EUR/USD dipped slightly below 1.0400 after testing the low side but later returned to the day's opening range. The Federal Reserve held rates steady, as expected, causing minimal movement in the market. Market participants are now focused
US oil inventories increased for the week ending January 24. The rise was more than expected, but still lower than what the market had predicted. This data was released by the Energy Information Administration (EIA) on Wednesday.
AUSTRALIAN DOLLAR HOLDS GAINS, UPSIDE CONSTRAINED AMID DOVISH RBA SENTIMENT The Australian Dollar (AUD) appreciates after the release of the Export Price Index on January 30, 2025. Export prices rose by 3.6% quarter-over-quarter in Q4 2024, reversing a 4.3% decline in Q3 2024. Australia’s Import Price Index
Germany’s Economy Ministry has reduced its growth forecast for 2025. The new forecast is 0.3%, down from the previous 1.1%. Economy Minister Robert Habeck mentioned that the economy is facing a tough situation. He highlighted that Germany has already been in recession for a while.
JAPAN'S FINANCE MINISTER KATO HOLDS VIDEOCONFERENCE WITH US TREASURY SECRETARY BESSENT Japan’s Finance Minister Kato held a videoconference with US Treasury Secretary Bessent on January 29, 2025. Kato confirmed close cooperation between the two nations on forex (foreign exchange) matters. Kato declined to comment on whether tariffs
GOLDMAN SACHS EXPECTS FED RATE CUTS IN JUNE, DECEMBER 2025, AND 2026 Goldman Sachs forecasts two 25 basis point (bp) rate cuts by the Federal Reserve in June and December 2025. They also predict one more rate cut in 2026. Earlier, Goldman Sachs CEO highlighted a narrow range for 2025
The Bank of Canada lowered interest rates by 0.25% on Wednesday. This is the third time in a row the bank has reduced rates. The new key interest rate is now 3.00%, down from 3.25%. Markets had expected this rate cut.