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Created on November 26, 2024 Bitcoin made its strongest fall since the US election a few weeks ago after coming very close to reaching $100,000.The cryptocurrency Bitcoin has made its biggest drop since the Republican victory in the US general election during the first week of this month, falling as low as $94k. Bitcoin has been in an amazing bull run, peaking a few days ago just shy of the major round number at $100,000. Trend traders will still be hanging on to their long positions, but if the price falls further towards $90k that will change. It may be…
USD/JPY traded higher today, towards 154.00. There was a slew of data releases from the country, and, on balance, the indicators were encouraging:PMIs improved (manufacturing did remain in contraction for the 6th month in a row though)Machine orders improved (a volatile data set though)The Tertiary Industry Activity Index (a service sector indicator) improved strongly If you need a reminder, the Bank of Japan meets this week, on the 18th and 19th. The consensus is the bank will leave its interest rates on hold. Indeed, this seems to be a factor weighing on the yen right now. I do have to…
Texas has introduced a new bill to establish a strategic Bitcoin reserve. The legislation proposes that the state accept Bitcoin payments for taxes, fees, and donations, with the collected Bitcoin .cwp-coin-chart svg path Hai Price Trading volume in 24h <!– ? –> Last 7d price movement held in reserve for at least five years. According to a report from CNBC, the initiative, presented by Republican State Representative Giovanni Capriglione, seeks to bolster Texas’ fiscal stability while positioning the state as a leader in Bitcoin innovation. Speaking on X Spaces, Capriglione explained the economic rationale behind the proposal, mentioning inflation as a…
Getty ImagesThe world’s largest cryptocurrency has risen by more than 50% since Trump’s election victoryBitcoin has surged to a new record high, extending a rally that has seen the cryptocurrency’s price rise by more than 50% since Donald Trump’s victory in the 5 November election.The world’s largest cryptocurrency briefly passed $106,000 (£83,890), before falling back to around $104,500 in Asia trade on Monday.The incoming Trump administration is seen as being far more friendly towards cryptocurrencies than the Biden White House.On Thursday, the US president-elect reiterated that he is considering creating a national stockpile of the digital currency, similar to the…
There’s a slate of stocks that are too attractive to ignore as the year winds down, according to Bank of America. The firm revealed a host of companies it thinks are must-owns and are expected to rise in 2025. CNBC Pro combed through Bank of America research to find buy-rated stocks with upside potential. They include Samsara , BlackRock , TaskUs , TKO Group Holdings and Accenture. TaskUs The outsourcing company is firing on all cylinders, according to the firm. Analyst Cassie Chan upgraded the stock to buy from neutral earlier this week citing an attractive risk/reward. “We believe TASK…
Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one…
In a compelling demonstration of data-driven investment analysis, Investing.com’s Fair Value models identified a significant opportunity in Asana (NYSE:ASAN) shares on April 17, 2024, when the stock traded at $13.71. The workplace collaboration software provider has since delivered a remarkable 62% return, validating the model’s ability to identify undervalued opportunities. For investors seeking similar opportunities, our Most undervalued list continues to highlight promising stocks with potential upside. Asana, which provides a leading work management platform, was flagged by our Fair Value analysis when the company was amid a significant transformation. Despite posting revenues of $652.5 million and showing early promise…
Created on December 02, 2024 President-Elect Trump posted a strong warning to the BRICS nations over the weekend against pursuing an alternative currency of reserve to the US Dollar.While President-Elect Trump seems to have learned to moderate his language a bit since his first term of office, he was back in characteristic form over the weekend, when he posted a threat to the BRICS nations (Brazil, Russia, India, China, South Africa) against their publicly mooted plan to create a new global reserve currency which could challenge the US Dollar status as the world’s top reserve currency. President Trump has other…
New York CNN Business — Kevin Hassett, one of President Donald Trump’s top economic advisers, suggested that Goldman Sachs may be slanting its economic research to help Democrats ahead of the midterm elections. The Goldman Sachs economics team “almost at times looks like the Democratic opposition,” Hassett told CNN’s Poppy Harlow on Tuesday. The comment came after Harlow asked Hassett about a Goldman Sachs research report warning that a 25% US tariff on all imports from China could wipe out corporate profit growth in 2019. Hassett said he hadn’t read the research, but went on to criticize Goldman’s track record.…
The headline economic activity data for November is here:More now, focus on the property sector, info via Reuters reporting:Property investment in China fell 10.4% in the first eleven months of 2024 from a year earlierthe fall was 10.3% in the January – October periodProperty sales by floor area in January-November fell 14.3% from a year earlier15.8% drop in January-OctoberNew construction starts measured by floor area declined 23.0% on year,22.6% drop in January-OctoberFunds raised by China’s property developers were down 18.0% from a year earlier 19.2% fall in January-October**China’s property sector is still languishing:An encouraging point in this data was that:…