At the December Monetary Policy Committee meeting, the CBT cut its policy rate by 250bp to 47.5%, which was more than the consensus forecast of a 150bp reduction.
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Central banks around the world have been ramping up their accumulation of gold, creating one of the most significant market shifts in years. Over the last two years, governments added over 2,000 tonnes of gold to their reserves ( https://ibn.fm/U1IaY )—a pace not seen in the last 20 years.
Looking at the global economy we need to pay attention to what is going on in China, what is going on in the Euro area and the expectations of inflation and rate cuts in the USA.
Research from the Federal Reserve Bank of New York finds an ominous correlation between the performance of stocks and the implementation of tariffs during Trump's first term.
Today, with full control over the supply and value of money, the United States government has settled on a policy that aims to bring about permanent price inflation.
The Chinese central bank is currently buying at least ten times more gold than what you read in the newspaper, and yet markets got excited based on mere breadcrumbs.
According to a Reuters report, the groups stated the lawsuit "seeks to resolve longstanding legal violations by subjecting the stress test process to public input as required by federal law.”
USD/CAD consolidates around 1.4400 amid thin trading volume in a holiday-curtailed week. Fed policymakers see more than one interest rate cut in 2025. The BoC has guided a gradual policy-easing approach for the next year.
Gold's bullish trend to continue in 2025 due to positive catalysts like central bank purchases, inflation concerns, and Trump's second term as a volatility driver.
Shares of cryptocurrency exchange Coinbase (NASDAQCOIN) fell 5.1% in the morning session after stocks with exposure to the crypto space declined as momentum in the crypto market weakened following a strong rally that began in the weeks leading up to the November 2024 elections. Investors had hoped for more favorable regulation under a new administration. Although the incoming Trump administration's victory was initially viewed positively, the market now appears to be searching for new catalysts to sustain its momentum. Additionally, profit-taking by investors may be contributing to the downturn. Notably, Bitcoin—the largest cryptocurrency by market capitalization—fell by more than 10% after reaching a record high of $106,000 on December 16, 2024.
