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Ethereum's price is on the rise as investors react to Trump's criticism of Fed Chairman Powell, which raises concerns about the Federal Reserve's independence. Currently, the price is eyeing the USD 1,700 mark, with potential upward movement towards USD 2,000 if this level is surpassed. However, the USD 1,500 mark remains a critical support level amid ongoing trade tensions.
Bhanu Baweja, chief strategist at UBS Investment Bank, commented on market reactions to the ongoing tariffs situation, stating that investors believe President Trump is likely to back down. He noted that the market does not expect the tariffs to be implemented.
Markets are showing optimism regarding lower tariffs, as noted by Bhanu Baweja, chief strategist at UBS Investment Bank. He stated in an interview that there is a prevailing belief that Trump will ultimately back down from implementing the tariffs.
Elon Musk's involvement with the Department of Government Efficiency (DOGE) has negatively impacted Tesla, leading to declining sales and protests. A recent survey identified Musk as a significant reputational risk for brands, with 28% of public affairs leaders highlighting the dangers of association with him. Analysts warn that if Musk continues in government, the brand damage for Tesla could worsen, urging him to refocus on his role as CEO.
Elon Musk faces a critical juncture as Tesla prepares to report quarterly earnings amid scrutiny over his divided attention between the company and his role in the Trump administration. Investors are urging him to refocus on Tesla, which has seen its stock plummet over 50% since December, while the brand's reputation suffers from political entanglements and declining vehicle deliveries. With potential new ventures like the Cybercab and Optimus in the pipeline, the future of Tesla hinges on Musk's next moves, as he risks either damaging the brand further or stepping back to restore its image.
The US dollar is weakening amid increasing threats to the Federal Reserve's independence, as President Trump intensifies his criticism of Fed Chair Jay Powell. Analysts warn that if the Fed lowers interest rates in response to political pressure, it could lead to significant and lasting damage to the dollar's value. Current forecasts suggest a target of 1.15 for the EUR-USD exchange rate, indicating heightened risks for the dollar.
Elon Musk is reportedly considering leaving his role in the Trump administration due to ongoing "nasty and unethical attacks" from the political left. Social media reactions have been largely unsympathetic, with users suggesting he is responsible for the backlash he faces. As his special government employee status nears expiration, analysts urge him to refocus on leading Tesla rather than remaining in government.
Trump held a ceremonial swearing-in for Paul Atkins as the new SEC chairman, emphasizing the need for regulatory clarity in the cryptocurrency sector. Meanwhile, the U.S. Army announced new gender-neutral fitness standards for combat roles, and health officials plan to phase out petroleum-based artificial food dyes by 2026. Tesla reported a significant profit drop amid backlash against Elon Musk's leadership, while Wall Street rebounded from previous losses, buoyed by better-than-expected earnings from several companies.
The Australian dollar (AUD) surged to 0.6376, a 1.36% increase, as the US dollar weakened amid escalating trade tensions and investor concerns over US economic policies. Trump's ongoing criticism of Fed Chair Powell has raised doubts about the Fed's independence, potentially driving further investment away from US assets towards the AUD. Continued discord may enhance this trend, with a break above the 200-day moving average signaling a possible rally towards 0.6770.
The Lucerne government has implemented a new owner strategy for LUKB, emphasizing risk policy, liquidity, and security to benefit the canton and its residents. The bank's capital ratio remains robust at 19.3%, surpassing FINMA requirements, while also addressing salary restrictions for its Executive Board and incorporating sustainability measures.
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