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Gold prices have surged over 50% since October 2023, reaching $2,801.00 per troy ounce, driven by strong central bank demand, particularly from China. Analysts suggest that if the current momentum continues, the psychological target of $3,000.00 could be achieved by the end of Q1 2025, with further potential upside to $4,000.00 in a prolonged bull market. However, risks such as a stronger US dollar and rising real yields could impact gold's appeal as a safe-haven asset.
U.S. equities are expected to remain central in 2025, despite a potential increase in market dispersion. The outlook for the DAX is uncertain, with valuations offering limited protection against earnings surprises. Q4 2024 U.S. earnings may exceed lowered expectations, while European earnings face greater risks.
Softer inflation readings in the US and UK suggest potential shifts in monetary policy, with markets pricing in earlier rate cuts. This could benefit rate-sensitive sectors like technology and real estate, while the US dollar and British pound may face pressure as expectations build. However, risks remain, including the possibility of central banks maintaining hawkish stances longer than anticipated.
In the wake of the Credit Suisse crisis, seven female law professors from Swiss universities are advocating for stricter too-big-to-fail regulations to enhance financial stability. Their proposals include a senior managers regime, expanded deposit protection, and a resolution fund, aiming to mitigate risks posed by large banks to the Swiss economy. The discussion highlights the need for clearer rules and stronger authorities in banking regulation, as Parliament prepares to address these issues.
The Bank of England has launched the Digital Pound Lab, a sandbox initiative to explore the feasibility of a central bank digital currency (CBDC) in the UK. This project aims to test various use cases and technical designs through public-private collaboration, while ensuring user privacy and maintaining the integrity of the monetary system. Ongoing public consultation and stakeholder engagement will guide the development of a potential digital pound, pending parliamentary approval.
The Bank of England and HM Treasury have made significant strides in designing a digital pound, a proposed central bank digital currency (CBDC) aimed at enhancing the UK’s payment infrastructure while ensuring user privacy. This initiative seeks to foster innovation through a public-private platform, allowing private firms to create user-friendly payment services while maintaining the trust associated with central bank money. The design phase will culminate in an assessment of the digital pound's alignment with monetary stability and financial inclusion, guiding future decisions on its implementation.
The New York Department of Financial Services (NYDFS) has launched a Transatlantic Regulatory Exchange programme with the Bank of England to enhance oversight of digital assets. Starting in February, a six-month staff exchange aims to align regulatory approaches and share expertise, addressing the differing US and UK strategies on digital currencies. NYDFS Superintendent Adrienne Harris highlighted the initiative's role in promoting global harmonization in crypto regulation.
The New York Department of Financial Services (NYDFS) and the Bank of England (BOE) have launched the Transatlantic Regulatory Exchange (TRE) to harmonize global crypto regulations. This initiative includes a staff exchange program starting in February, aimed at enhancing regulatory capabilities in digital finance and payment systems.NYDFS Superintendent Adrienne A. Harris and BOE Deputy Governor Sarah Breeden emphasized the importance of collaboration between New York and London to foster innovation and ensure consumer protection in an interconnected financial landscape.
Former UK Prime Minister Liz Truss expressed strong support for Bitcoin while voicing significant concerns about central bank digital currencies (CBDCs) during an interview. She argued that cryptocurrencies can diminish central banks' power, criticizing the Bank of England's lack of accountability and warning that CBDCs could lead to increased state control and surveillance. Truss emphasized the need for a debate on the governance and mandate of central banks to ensure more effective monetary policies.
The stock market faced significant losses following the Federal Reserve's rate outlook, with the Dow Jones plunging 2.6% and the S&P 500 down 2.95%. Major tech stocks like Nvidia and Tesla also fell, while Micron's weak guidance led to a sharp decline in its shares. Despite a slight bounce in futures, the market remains volatile, with rising Treasury yields and economic uncertainty ahead.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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