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The Australian dollar is under pressure, hitting a year low due to the strong US dollar and weak housing data from China, with potential further declines if key support levels are breached. Meanwhile, the Nasdaq shows bullish momentum, with traders eyeing a resistance level around 22,350, while the ASX 200 benefits from a Santa Claus rally. Bitcoin continues to rise, surpassing $108,000, although traders should be cautious of potential pullbacks, while gold faces pressure from anticipated interest rate cuts and a stronger dollar, with critical support at $2600.
IG
Hong Kong's securities regulator has approved four new cryptocurrency exchanges—Accumulus GBA Technology, DFX Labs, Hong Kong Digital Asset EX, and Thousand Whales Technology—enhancing its status as a digital asset hub. This decision follows a surge in Bitcoin prices and reflects the city's commitment to a robust regulatory framework while balancing investor protection and business growth. The newly licensed platforms must meet strict operational conditions, joining three previously approved exchanges and signaling a trend toward regulatory maturity in the crypto space.
VeBetterDAO, built on the VeChain blockchain, aims to revolutionize the $16 trillion sustainability market through community-driven governance and tokenization of sustainable assets. The platform incentivizes eco-friendly actions, rewarding participants with $B3TR tokens for initiatives like litter collection, thereby promoting transparency and engagement in sustainability efforts. By integrating blockchain solutions, VeBetterDAO seeks to address global environmental challenges while fostering a participative and democratic community model.
UBS forecasts the USD/CNY exchange rate to reach 7.5 by mid-2025, driven by ongoing US-China trade tensions. While Beijing may consider tariffs and export restrictions, a moderate depreciation of the yuan is seen as a more effective strategy to mitigate economic impacts and maintain stability. Additionally, potential concessions from China, such as increased purchases of US goods and collaboration on mutual concerns, could help ease tensions.
UBS forecasts the USD/CNY exchange rate to reach 7.5 by mid-2025, driven by ongoing US-China trade tensions. While Beijing may implement tariffs and export restrictions, a moderate depreciation of the yuan is seen as a more effective strategy to mitigate economic impacts and maintain stability. Additionally, potential concessions from China, such as increased purchases of US goods and collaboration on mutual concerns, could help ease tensions.
UBS forecasts the USD/CNY exchange rate to reach 7.5 by the end of the first half of 2025, amid ongoing US-China trade tensions. The bank suggests that while Beijing may implement symbolic retaliatory measures, a moderate devaluation of the yuan is more likely to mitigate economic impacts. Additionally, potential concessions from China could include increased purchases of US agricultural products and cooperation on mutual interests to stabilize relations.
UBS forecasts the USD/CNY exchange rate to reach 7.5 by mid-2025, driven by ongoing US-China trade tensions. While potential Chinese tariffs and export restrictions may arise, a moderate depreciation of the yuan is deemed more likely to protect the economy from US tariffs without destabilizing the financial system. Beijing may also consider concessions, such as increasing imports from the US, to ease tensions while maintaining economic stability.
Novartis AG is highlighted as one of the oversold global stocks to consider amid significant market shifts following the 2024 US Presidential Election, where President-elect Donald Trump's victory prompted a surge in banking and energy sectors. His proposed tariffs on China could impact global trade dynamics, leading Chinese leaders to contemplate economic stimulus measures to counteract potential fallout. The situation raises concerns about China's economic growth targets amidst changing international trade relations.
Norwegian regulations now mandate data centers to disclose ownership and services, aiming to empower local authorities in decision-making. Meanwhile, global enforcement against digital asset fraud intensified, with the CFTC and SEC reporting record recoveries from scams, including the FTX collapse and Terraform Labs fraud. In the U.K., a proposed bill seeks to classify digital assets as property, addressing legal ambiguities, while China revises AML laws to include virtual assets, maintaining a ban on digital asset transactions.
Saitama token, an ERC-20 cryptocurrency, is gaining popularity among Gen Z investors, aiming to create a safe and educational crypto market. It can be purchased on platforms like 1inch, LBank, and BKEX, but not directly with fiat currencies. As a deflationary token, it promises potential appreciation, though investors should be aware of its volatility and risks.
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