British pay rose by more than expected in the three months to October, official data showed on Tuesday, potentially adding to the Bank of England’s caution about how quickly to cut interest rates.
Asian currencies were largely subdued on Tuesday as markets were cautious ahead of interest rate decisions from major central banks, including the U.S. Federal Reserve.
On Monday, prices fell from multi-week highs on unexpected weakness in consumer spending data from China, despite strength in industrial output, and as investors moved into a holding pattern ahead of the Fed’s meeting.
Trump had promised crypto-friendly regulations if elected, with his recent nominations for key cabinet and regulatory positions all harboring pro-crypto stances. But analysts have remained skeptical over the prospect for a Bitcoin reserve, especially on how it could be formed.
Australia’s Qantas Airways said on Tuesday that it has reached a settlement with the Transport Workers Union (TWU) for compensation of A$120 million ($76.2 million) that it will pay former ground workers who were sacked in 2020.
China will issue more government bonds, including local government special bonds, in 2025, the Central Financial and Economic Affairs Commission said, according to an article published by the official Xinhua news agency on Monday.
A strong U.S. dollar and high Treasury yields are posing significant challenges for emerging economies, and policymakers have no easy way to counter this powerful one-two punch.
U.S. Treasury Secretary Janet Yellen told Reuters on Friday that the U.S. is looking at further sanctions on “dark fleet” tankers and will not rule out sanctions on Chinese banks as it seeks to reduce Russia’s oil revenue and access to foreign supplies to fuel its war in Ukraine.
Bitcoin surged to a record high above $106,000 on Monday after President-elect Donald Trump suggested he plans to create a U.S. bitcoin strategic reserve similar to its strategic oil reserve, stoking the enthusiasm of crypto bulls.
Crude oil for January delivery was down 1.15% or 0.82 to $70.47 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February fell 0.42% or 0.31 to hit $74.18 a barrel, while the February Gold Futures contract fell 0.20% or 5.36 to trade at $2,670.44 a troy ounce.
