{ }
The Bank of England has maintained its interest rate at 4.75% as UK inflation reached an eight-month high of 2.6% in November, driven by rising transportation and housing costs. Despite some easing inflationary pressures, persistent inflation in the services sector remains a concern for the central bank.
Jerome Powell's recent statements following a modest 25 basis point interest rate hike have unsettled investors, as the Federal Reserve anticipates only two rate cuts next year due to persistent inflation concerns. The DAX is now in correction mode, with critical support at 20,000 points under threat, potentially leading to further declines towards the 19,703/19,681 range.
IG
Markets are bracing for a prolonged period of high interest rates following the Federal Reserve's recent policy decision, which raised forecasts for inflation and GDP growth while signaling caution on future cuts. The dollar surged, impacting emerging markets and tech stocks, with Micron Technology shares plummeting after disappointing earnings. Meanwhile, global central banks, including the Bank of England and Brazil's central bank, are navigating their own monetary challenges amid rising inflation and economic pressures.
The Federal Reserve's 0.25% interest rate cut triggered a swift liquidation of over $239 million in the crypto market, with Bitcoin briefly dipping below $100,000. Major cryptocurrencies, including Ethereum and XRP, also experienced significant declines, reflecting investor concerns about future rate cuts and inflation control. The overall market cap for meme coins fell nearly 8%, highlighting the widespread impact of the Fed's cautious stance.
The crypto market is facing significant turmoil, with a 3.4% drop in total market value. Bitcoin briefly fell below $100K, while Floki plummeted 13.95% in a day, reflecting a broader sentiment shift. Ethereum saw a 5.08% decline but experienced a 40% surge in trading volume, indicating underlying investor interest amidst the chaos.
Bitcoin's price briefly dipped below $100,000 following the Federal Reserve's cautious outlook on interest rate cuts, dropping to $98,760 before recovering. Despite this volatility, the cryptocurrency remains up about 50% since the US elections, buoyed by optimism around regulatory changes. Analysts suggest that Bitcoin must surpass $105,400 to shift the current bearish sentiment, while concerns about persistent inflation continue to loom.
The Federal Reserve has cut interest rates by a quarter percentage point, bringing the range to 4.25 to 4.50 percent, amid rising inflation concerns and increasing uncertainty about the US economy. While 227,000 new non-farm jobs were created, the unemployment rate ticked up to 4.2 percent. Investors are now focused on upcoming GDP data and consumer confidence indicators.
IG
Bitcoin's price plummeted below $99,000 after a brief surge past $108,000, following the Federal Reserve's interest rate cut and comments suggesting a halt in future reductions. Altcoins like XRP, AVAX, and DOGE experienced even steeper declines, contributing to a drop in the total crypto market cap from over $3.95 trillion to under $3.6 trillion. Despite some recovery, many cryptocurrencies remain significantly down.
Federal Reserve Chair Jerome Powell has stated that the Fed will not stockpile bitcoin, emphasizing that this issue is for Congress to address. The proposal for a U.S. Strategic Bitcoin Reserve, suggested by Trump, faces significant legal and regulatory hurdles, including potential Congressional approval and funding concerns. While Trump plans to appoint pro-crypto leaders, the Fed remains focused on monitoring the impact of cryptocurrencies on the banking system.
U.S. stocks are poised to recover some losses after a significant selloff, with futures for the Dow Jones Industrial Average up 121 points, or 0.3%. This comes after Federal Reserve Chair Jerome Powell indicated that persistent inflation means deep rate cuts are unlikely next year, contributing to a 1,100-point drop in the Dow on Wednesday, marking its longest losing streak in 50 years.
Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

MachinaCore is a highly modular and scalable system that allows users to build custom widgets and tools tailored to their specific financial data needs, while seamlessly integrating with other MachinaLabs products, like Machinary, MachinaAI Modules and MachinaTrader.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.