Month: December 2024

Bitcoin holds steady below recent highs as markets eye Trump crypto policies, Fed cues Bitcoin edged up on Wednesday, stabilizing at $96,418.1 by 00:51 ET (05:59 GMT), up 0.3% but remaining in a two-week trading range of $90,000 to $100,000. The cryptocurrency struggled to breach the $100,000 level despite its…

The Australian dollar fell to a four-month low on Wednesday after disappointing economic growth figures heightened expectations for earlier interest rate cuts. Meanwhile, South Korea’s won stabilized following the reversal of the martial law decision. The Chinese yuan attempted to recover from its lowest point in over a year, as…

Gold prices edged higher in Asian trading on Wednesday as South Korea’s political turmoil fueled some safe-haven demand. However, traders remained cautious, awaiting further signals on U.S. interest rate policy. The yellow metal found some support earlier in the week amid fears of a breakdown in the Israel-Hezbollah ceasefire, which…

South Korean shares declined on Wednesday as the nation grappled with its most significant political crisis in decades. Lawmakers called for the impeachment of President Yoon Suk Yeol following his unexpected declaration of martial law, which he later rescinded within hours. The announcement on Tuesday evening rattled markets, triggering a…

Oil prices remained largely unchanged in early Asian trading on Wednesday as markets assessed rising U.S. crude and fuel inventories alongside the potential for OPEC+ to extend supply cuts. By 0145 GMT, Brent crude futures edged down by 2 cents, or 0.03%, to $73.60 a barrel, while U.S. West Texas…

South Africa’s economy unexpectedly contracted in the third quarter of this year, largely due to a significant decline in agricultural output, according to data released by the statistics agency on Tuesday. Seasonally adjusted quarter-on-quarter GDP shrank by 0.3%, contrary to economists’ expectations of a 0.5% expansion in a Reuters poll.…

BlackRock (NYSE: BLK) announced on Tuesday its agreement to acquire private credit firm HPS Investment Partners in an all-stock transaction valued at approximately $12 billion. The acquisition will significantly expand BlackRock’s presence in private credit, a rapidly growing segment and one of Wall Street’s most sought-after investment areas. Private credit,…

U.S. Tariffs Could Slow Eurozone Growth and Inflation, Says ECB’s Cipollone Import tariffs proposed by U.S. President-elect Donald Trump’s administration could dampen economic growth and inflation across the 20 eurozone countries, European Central Bank board member Piero Cipollone stated on Tuesday. While most economists agree that tariffs would likely hurt…

The euro edged higher on Tuesday, regaining some composure after political unrest in France drove traders to seek hedging protection against potential price swings. Meanwhile, the yuan dropped to a 13-month low amid tariff concerns and signs of economic weakness in China. The yen, which has gained nearly 4.5% over…

The dollar remained strong on Tuesday, bolstered by political instability in France that weakened the euro, while concerns over tariffs and a sluggish Chinese economy pushed the yuan to its lowest level in 13 months. The yen, which recently saw a resurgence, eased slightly but stayed close to six-week highs…