Gold prices rangebound as rate cut fears persist
Bullion prices were battered by bets on higher-for-longer interest rates, especially following a slew of strong U.S. economic readings and hawkish comments from Federal Reserve officials.
2024
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Jerome Powell Makes Crucial Comment for Cryptocurrency Market
These remarks from Powell are critical for the cryptocurrency market because they indicate that the Federal Reserve is still striving to navigate the economy toward a state where inflation is under control without triggering a recession.
Australia stocks higher at close of trade; S&P/ASX 200 up 0.45%
The best performers of the session on the S&P/ASX 200 were Appen Ltd (ASX:APX), which rose 10.19% or 0.03 points to trade at 0.30 at the close. Meanwhile, Omni Bridgeway Ltd (ASX:OBL) added 7.35% or 0.10 points to end at 1.46 and Zip Co Ltd (ASX:ZIP) was up 6.37% or 0.05 points to 0.83 in late trade.
Australia central bank shakes off ‘Taylor Swift inflation’ fears
Her world tour, along with others by acts including Beyonce and Coldplay, has been cited by some experts as a factor in temporarily spurring inflation in several countries including the United States. Others have said the impact of the concerts on inflation are overstated.
Dollar steadies near 11-week high, Fed policy path in focus
A string of robust U.S. economic data and remarks from Federal Reserve Chair Jerome Powell have quashed speculation of early and steep interest rate cuts and supported the greenback.
Gold prices stem losses as dollar rally pauses; $2,000 support eyed
Gold prices steadied on Tuesday after tumbling sharply over the past week as a rally in the dollar paused for breath, with markets now watching for the yellow metal to potentially test a key support level.
Ethereum (ETH) In Dangerous Position, Bitcoin (BTC) About to Lose $40,000, Shiba Inu (SHIB) At Local Support
This potential slip below the 26 EMA is crucial because it suggests a weakening in buying pressure and a shift in market sentiment from accumulation to potential distribution. A break below this level would not only establish $2,347 as the next price floor but could also exacerbate the asset’s losses, leading to further bearish momentum.
JinkoSolar licenses TOPCon patents to leading solar firm
JinkoSolar, known for its extensive portfolio of granted N-type TOPCon patents, emphasizes its commitment to maintaining technical leadership through its intellectual property rights. This move follows a similar agreement with another leading solar module company on January 5, 2024.
Bitcoin Witnesses Mystical $280 Million Transfer as BTC Price Teases Pump
The sizable transfer occurred between unknown wallets, adding an air of mystique to an already enigmatic transaction. The event took place against the backdrop of a 2% surge in Bitcoin’s price, climbing from $39,900 to $40,700 earlier in the day.
Analysis-Projected buyback revival stands to bolster US stocks in 2024
Stock buybacks are projected to increase this year after ebbing in 2023, fueled by forecasts of stronger corporate earnings that are expected to leave companies with excess cash. The total amount of buybacks could rise to $1 trillion on an annualized basis, Deutsche Bank said.