GERMAN ECONOMY CONTRACTS 0.2% IN 2024, SECOND STRAIGHT ANNUAL SLOWDOWN The German economy contracted by 0.2% in 2024. This marks the second consecutive year of economic slowdown for Germany. The data was released by the country's statistics office, Destatis.
PBOC SETS USD/CNY REFERENCE RATE LOWER THAN EXPECTED The People's Bank of China (PBOC) set the USD/CNY reference rate at 7.1883 for today. This is significantly lower than the market estimate of 7.3240. The PBOC uses a managed floating exchange rate system, allowing fluctuations
UBS FORECASTS EUR/USD TO REACH 1.00 BY MARCH 2025 UBS forecasts EUR/USD to hit 1.00 by March 2025, followed by a recovery to 1.06 by December. Despite the USD being overvalued, UBS expects EUR/USD to fall further in the short term. The forecast suggests
UK INFLATION SLOWS TO 2.5% IN DECEMBER, BELOW EXPECTATIONS U.K. inflation slowed to 2.5% in December, lower than the expected 2.6%. The consumer price index (CPI) was 2.6% in November, with economists expecting it to remain unchanged. Core inflation, excluding food and energy prices, decreased
JP Morgan is considering launching ETFs for cryptocurrencies Solana (SOL) and Ripple (XRP). The bank noted the success of crypto funds in the US over the last year. There is speculation that the Trump administration may approve new crypto funds filed with the SEC.
EUR/USD OUTLOOK REMAINS NEGATIVE DESPITE RECOVERY EUR/USD rose above the 1.0300 mark on Tuesday, extending recovery from Monday’s lows near 1.0180-1.0175. The US Dollar weakened due to tariffs and disappointing US Producer Price Index (PPI) data. US Dollar Index (DXY) dropped into the low
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ETHEREUM ETFs EXPERIENCE OVER $39 MILLION OUTFLOWS Ethereum ETFs saw $39.43 million in outflows on January 13, 2025, marking the fourth consecutive day of outflows. Grayscale’s Ethereum Mini Trust suffered the most, with outflows of about $37.84 million. BlackRock’s Ethereum ETF partially offset the outflows, with
Treasury yields, which measure returns on government bonds, decreased on Tuesday. The 10-year yield dropped by three basis points to 4.776%. The 2-year Treasury yield fell by one basis point to 4.386%. Yields and bond prices move in opposite directions: when yields drop, bond prices typically rise.
Robert Holzmann, a member of the European Central Bank (ECB), expects inflation in the eurozone to improve. He mentioned this during recent statements on Tuesday. The ECB aims to reach a 2% inflation target. Holzmann expressed confidence that they can achieve this target by the end of 2025. This shows
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US PRODUCER PRICE INDEX BELOW EXPECTATIONS IN DECEMBER US Producer Price Index (PPI) grew by 3.3% year-on-year in December, below the expected 3.4%. The PPI growth in November was 3.0%. On a monthly basis, the PPI increased by 0.2%, missing the expected 0.3% growth. November’
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Gold prices stayed steady on Monday. A strong U.S. jobs report made the Federal Reserve less likely to cut interest rates. Uncertainty about the upcoming Trump administration's policies increased demand for gold as a safe investment.
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GOLD PRICE FORECAST: XAU/USD HOLDS ABOVE $2,660 WITH SOFT TONE XAU/USD currently at $2,663.89, showing a soft tone. Gold remains under pressure due to persistent US Dollar demand. Gold reached a multi-week high of $2,697.88 on Friday after strong US NFP data. US