A new cryptocurrency called Trump Coin has been launched by a group linked to Donald Trump, called CIC Digital. It quickly became very popular, reaching a total market value of about $73 billion. In just one day, people traded Trump Coin worth over $30 billion. Trump Coin is now worth
Oil prices dropped by more than 2% on Tuesday. Investors are reacting to US President Trump's decision to delay new tariffs. Trump is also increasing oil and gas production in the US. This has put pressure on oil prices, causing them to fall.
Stocks went up on Tuesday because investors thought President Trump’s trade plans were not as tough as they expected. Dow Jones increased by 165 points (0.4%). S&P 500 went up by 0.5%. Nasdaq rose by 0.4%.
Hedge funds are getting ready for Donald Trump to become president. They are making big investments, using the most borrowed money since 2010. They believe the U.S. dollar will keep getting stronger. A report from Morgan Stanley says hedge funds have taken large positions in U.S. stocks. This
GOLD PRICE FORECAST: XAU/USD EYES $2,750 AND RECORD HIGHS Gold price hits a two-month high at $2,750, showing potential for more gains. Trump’s tariff threats on China boost demand for both the US Dollar and Gold. Technically, Gold is targeting $2,785 or even new record
Saxo Bank sees a big opportunity in commodities, even better than gold. Commodities are expected to do well in 2025, helping protect against inflation and economic problems. Gold and silver are expected to perform the best among all commodities. Ole Hansen, a commodity expert at Saxo Bank, advises investors to
Sean Osborne, a top currency expert at Scotia Bank, shared his views on the US dollar. He talked about how the dollar might change now that Donald Trump is back as US President. Osborne said markets and certain currencies felt better after hearing that Trump may not introduce heavy tariffs.
PBOC SETS USD/CNY MID-POINT AT 7.1696, BEATING ESTIMATES The People's Bank of China (PBOC) sets the daily midpoint for the yuan at 7.1696 against the US dollar. This is better than the estimated rate of 7.2642. The PBOC uses a managed floating exchange rate
CHINA MARKET UPDATES (JANUARY 22, 2025) YUAN FIXING: China's yuan set at 7.2659 today, within a range of 7.2601 to 7.2688. CENTRAL BANK ACTION: The People's Bank of China injected 1157.5 billion yuan through 14-day reverse repos at 1.65%. REPO RATE:
XRP JUMPS 5% AS TRUMP APPOINTS PRO-CRYPTO MARK UYEDA AS SEC CHAIR XRP rises by 5% after President Trump names Mark Uyeda, a pro-crypto advocate, as acting SEC Chair. This could mean the end of Ripple's legal battle with the SEC. On-chain data shows increased buying activity from
GBP/USD FALLS NEAR 1.2300 AHEAD OF TRUMP’S ECONOMIC POLICIES GBP/USD drops after President Trump announced plans to review US tariff policies. Traders worry that Trump’s policies might increase inflation and limit the Fed to just one more rate cut. UK demand for gilts rises following
Bank of America CEO Brian Moynihan said US banks are ready to use cryptocurrencies. Banks are waiting for government approval before they can start. They want clear rules to follow when dealing with digital money. This could bring big changes to the US financial system.