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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
The Canadian government will unveil its fall economic statement on December 16, as announced by the finance ministry. This update will include a revised estimate of the government's deficit.
The fourth quarter historically offers strong opportunities for traders, particularly in the S&P 500, driven by seasonal trends, increased holiday spending, and investor optimism. With a 93% occurrence rate of positive returns and minimal drawdowns in December, traders can leverage ETFs like SPY and futures contracts like ES and ET for potential gains. However, a balanced strategy incorporating risk management and market analysis is essential for success during this period.
El Salvador is set to modify its Bitcoin law to secure a multi-billion dollar deal with the International Monetary Fund (IMF), which includes halting the mandatory acceptance of Bitcoin by businesses. This change is part of negotiations aimed at unlocking $2 billion in loans from the World Bank and the Inter-American Development Bank to support economic reforms. Despite the IMF's acknowledgment that risks from the Bitcoin policy have not yet materialized, it has urged for greater transparency and a reevaluation of the controversial law.
Ghana's electoral commission has declared ex-President John Dramani Mahama the winner of the presidential election, securing 56.55% of the vote. His main rival, Vice President Mahamudu Bawumia, conceded defeat, acknowledging the need for change amid a severe economic crisis. Mahama, who previously served from 2012 to 2016, promises governance reforms and a $10 billion investment in infrastructure to address the country's challenges.
Ethereum's price dipped 3.7% below $4,000, with traders eyeing $3,500 as solid support. Despite the decline, bullish sentiment persists, driven by ETF inflows and structural improvements, as Ethereum's total value locked reaches $76.5 billion, the highest since April 2022. Vitalik Buterin emphasized the importance of democratized participation for Ethereum's future success.
Ethereum (ETH) has seen a 3.94% decline in price over the past 24 hours, marking its steepest correction since November 14. This drop is attributed to over $44 million in leveraged positions being liquidated, primarily long positions, amid a marketwide funding rate reset for altcoins following Bitcoin's recent volatility.Traders are closely watching the price action between $3,700 and $3,800, with potential for a rebound if ETH closes above $3,950. However, a drop to around $3,735 is also possible due to liquidity imbalances created by a recent flash decline.
This week, the Swiss National Bank and four other central banks are set to decide on interest rate cuts. Following this, the US Federal Reserve will meet on December 18 to discuss the key interest rate, with a 25 basis point cut anticipated, though rates are expected to remain stable until early 2025 as the impact of new tariffs on economic growth and inflation becomes clearer.
Das leaves a significant legacy, having adeptly navigated the economy during the COVID-19 crisis by providing essential liquidity to banks and markets. Under his leadership, the RBI implemented targeted liquidity measures and skillfully managed inflation, questioning data collection methods as CPI approached critical levels. His bold interventions helped maintain market stability, emphasizing the yield curve as a "public good."
Donald Trump aims to position America as the global leader in cryptocurrency, advocating for investments and clear regulations. Eric Trump emphasized the need for the U.S. to embrace digital assets to avoid falling behind other nations, citing the UAE as a successful example. The incoming administration plans to establish sensible regulatory frameworks while moving away from strict oversight, particularly criticizing SEC Chair Gary Gensler's approach to the industry. Paul Atkins, a known cryptocurrency advocate, has been appointed to lead the regulatory body.
AMD shares fell 4% following a price target reduction by Bank of America, which cited challenges in the PC market as a significant factor. Currently, there are no major events impacting the country.
Central Bank Actions
SubCategory
canadian government to unveil fall economic statement on december 16
20:16 09.12.2024
seasonal trading opportunities in the s and p 500 for december
20:00 09.12.2024
el salvador to amend bitcoin law for imf funding deal
19:21 09.12.2024
ex-president john dramani mahama wins ghana presidential election with 5655 percent
19:16 09.12.2024
ethereum faces price drop despite bullish outlook and strong support levels
19:08 09.12.2024
ethereum price declines amid significant liquidations and market funding rate reset
18:32 09.12.2024
Central Banks Set to Cut Rates Ahead of US Federal Reserve Decision
17:55 09.12.2024
rbi's strategic leadership during covid-19 ensures economic stability and inflation control
17:43 09.12.2024
Trump aims to position America as the global leader in cryptocurrency
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17:40 09.12.2024
amd shares fall as bofa lowers price target amid pc market challenges
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