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According to records, China has divested $53.3 billion in U.S. Treasury notes and agency bonds during the first quarter. Some analysts suggest this reduction in foreign exchange reserves might be China’s strategic move to leverage its holdings against the United States. China’s Treasury Holdings Drop Dramatically, Raising Red Flags for U.S. Markets China has significantly … Read more
Retail trading platform Robinhood has announced that its crypto revenue grew by 232% in the first quarter. Despite this success, Robinhood faces potential enforcement action by the U.S. Securities and Exchange Commission (SEC), alleging that some of the cryptocurrencies offered on its platform are securities. Crypto Drives Robinhood’s Profitable Q1 Retail trading platform Robinhood Markets … Read more
The Federal Reserve isn’t sticking with the schedule of interest rate cuts it predicted earlier in the year. That makes navigating the market more challenging. Go to Source
On Wednesday, May 1, 2024, the U.S. Federal Reserve chose to maintain the benchmark interest rates at their highest in 23 years. The Federal Open Market Committee (FOMC) members noted that although inflation has subsided, it still “remains elevated.” No Change in Federal Funds Rate; Fed Continues Watchful Eye on Inflation Risks On Wednesday, the … Read more
The Reserve Bank of Zimbabwe has introduced a foreign exchange and gold-backed “structured currency” to replace the struggling local currency. The structured currency banknotes will be “fully convertible into the reserve currency on demand.” The central bank has also reduced the annual interest rate from 130% to 20%. Structured Currency Supported by Solid Fundamentals The … Read more
Authorities in Egypt recently allowed the local currency’s exchange rate versus the U.S. dollar to decrease by more than 60%. Additionally, the central bank raised interest rates by 600 basis points. Both steps were key conditions set by the IMF which Egypt had to meet before the approval of a new financial aid package. IMF … Read more
Contrary to Jerome Powell’s intimations, inflation is likely to rise in the months ahead. If the Fed does not hike rates in 2024, the problem will get worse. Go to Source
An increase in the Fed rate is considered bearish for the crypto market as it constrains the flow of funds into the market, while a rate cut is seen as bullish as it boosts risk appetite among investors. Go to Source
Bitcoin faces a slow grind after earlier brisk BTC price gains, but the ingredients for a sustained rally are there, market data suggests. Go to Source
Led by Chairman Jerome Powell, the Federal Reserve has halted the rise of interest rates. Will it be enough to fuel the surging market through Christmas? Go to Source
