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The EuroStoxx 50 is expected to end 2024 with modest gains, reflecting a year of stagnation influenced by weak Chinese demand impacting luxury goods, rising risk premiums on French bonds, and concerns over US-Europe trade tensions. A technical analysis suggests a potential bullish breakout in early 2025, contingent on improved global economic conditions. However, a downturn remains possible if the economic outlook worsens.
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UBS forecasts gold prices to reach $2,900/oz by the end of 2025, driven by central bank demand, rising investor interest, and a lower interest rate environment. Despite a recent dip, gold has risen nearly 29% year-to-date, outpacing the S&P 500. Central banks are expected to purchase over 900 metric tons in 2025, while geopolitical risks and a weaker dollar are likely to boost gold's appeal as a safe-haven asset.
The ASX 200 is up over 8% year-to-date as 2024 closes, driven by strong performances in financial stocks, particularly the Commonwealth Bank, which rose 40%. In contrast, the tech sector surged over 50%, while energy and materials faced declines. Looking ahead, forecasts for 2025 vary, with predictions for the ASX 200 ranging from 7900 to 9300 points, influenced by geopolitical developments and potential RBA rate cuts.
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The ifo Business Climate Index in Germany dropped from 85.6 to 84.7 in December, indicating a bleak outlook for 2025 as both the manufacturing and service sectors express declining confidence. The export-dependent economy faces challenges from structural changes in the automotive industry, job cuts, and demographic shifts, compounded by the energy crisis stemming from the war in Ukraine. With these ongoing issues, a swift recovery appears unlikely.
A 24-year-old woman, Catherine Colivas, kidnapped a Saudi royal and extorted $40,000 in Bitcoin, threatening him with violence. Despite pleading guilty to multiple charges, she received a community corrections order instead of jail time, with the judge citing her youth and personal circumstances as mitigating factors. Another accomplice, Paris Kennedy, was sentenced to time served for lesser charges.
A man, Nuruhussein Hussein, was arrested for allegedly stealing $300,000 in cryptocurrency from two passengers in Scottsdale, Arizona, by impersonating an Uber driver. He gained their trust, borrowed a phone, and transferred funds from their Coinbase accounts before threatening one victim when suspicion arose. Hussein faces charges of theft, fraud, and money laundering, with a secured bond set at $200,000, and is barred from internet access and overseas travel as the investigation continues.
The world faced a critical moment in the fall of 2022 during the Ukraine war, with the potential for a tactical nuclear strike looming as Russian forces were encircled in Kherson. U.S. and British leaders engaged in tense diplomacy to avert catastrophe, highlighting the unpredictable nature of geopolitical conflicts. As the situation evolves, vigilance and awareness of potential crises remain essential for global stability.
Ukrainian legislators are expected to legalize cryptocurrency in the first quarter of 2025, according to Danylo Hetmantsev, chairman of the Financial, Tax and Customs Policy Committee. The proposed law will not provide tax benefits for cryptocurrency transactions, with profits taxed under a securities model. This move comes amid ongoing geopolitical tensions and Russia's recent legislation allowing cryptocurrency use in international trade.
The Senate approved several judicial nominees and the House passed an $883 billion defense authorization bill for fiscal year 2025, which includes pay raises for servicemembers. Congress is also working on extending government funding and disaster assistance before the holiday recess. Meanwhile, the Biden administration's $2 billion loan to Ukraine may be the last U.S. assistance for now, as discussions on potential reforms to Social Security and Medicare remain distant.
Ukraine plans to legalize cryptocurrencies by early 2025, focusing on regulation and taxation without special tax incentives. The legislation aims to ensure financial stability and compliance with anti-money laundering standards, treating crypto profits like securities trading. Amid ongoing conflict, digital assets are seen as vital for economic resilience and cross-border transactions, having already raised nearly $70 million for defense and humanitarian efforts in 2023.
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