Aurelia Butler

More stories

  • 125 Shares99 Views

    in Economy

    Morning Bid: PMI-fest kicks off new month, spotlight on China

    (Reuters) – A look at the day ahead in Asian markets.Asia kicks off the new trading month for global markets on Monday, with manufacturing PMI data from the continent’s biggest economies setting the local tone and investors still banking on U.S. and other interest rates coming down soon. Purchasing managers index figures will show how factory activity in China, Japan, Taiwan, Australia, South Korea and India fared last month, and Indonesia’s latest inflation figures will also be released.The most important Asian PMI for markets will be China’s unofficial Caixin number, which is expected to inch up to 51.5 from 51.4. That would be welcome relief following the disappointing official PMI figures on Friday that showed factory activity contracting again, reviving doubts about the strength of China’s economic recovery.Economists at Barclays reckon growth in the second quarter will be virtually zero, and Citi’s economic surprises index for China is negative for the first time in nearly four months. Japan’s flurry of economic indicators late last week sent mixed signals. Surprisingly strong retail sales suggests the consumer is in good health, but the same cannot be said for the industrial sector as production was much weaker than expected.Global economic signals may be beginning to deteriorate too. Regional U.S. business activity data on Friday were much weaker than expected, bolstering the view that the Federal Reserve will cut rates soon, and the Atlanta Fed’s Q2 GDP Nowcaster growth tracker fell to 2.7% from 3.5%. The European Central Bank is set to cut rates this week, and Citi’s economic surprises indices across major and emerging economies have all fallen substantially recently.Asian markets also wake up on Monday to news that OPEC+ has agreed to extend most of its deep oil output cuts well into 2025, exceeding expectations, to offset tepid demand growth, high interest rates and rising rival U.S. production.Elsewhere on the Asian data front, Indonesia’s annual inflation rate is expected to have cooled slightly in May to 2.9% from 3.0% in April, slipping further into the central bank’s target range of 1.5% to 3.5%. Although inflation appears to be under control, the central bank unexpectedly raised rates in April to support the rupiah, which had fallen to a four-year low against the U.S. dollar.The rupiah’s bounce lasted only a few weeks. The currency is back probing fresh four-year lows, and last week fell 1.6% for one of its biggest weekly losses since the pandemic. On the political front, Indian markets will give their initial verdict on Prime Minister Narendra Modi’s likely victory in the country’s election. Exit polls released this weekend after six weeks of voting projected Modi’s alliance will increase its 303 seats in the 543-member lower house and likely get the two-thirds majority needed to initiate amendments to the constitution.Here are key developments that could provide more direction to markets on Monday:- Manufacturing PMIs – China, Japan, South Korea (May) – Indonesia inflation (May)- India exit polls reaction More

  • 150 Shares199 Views

    in Cryptocurrency

    Max Keiser Reveals Epic Bitcoin Prediction for Old ‘New’ El Salvador President

    As a reminder, in his first term, Bukele has reaffirmed his commitment to purchasing one BTC daily into a cold wallet until the cryptocurrency can no longer be technically acquired.Max Keiser, a big supporter of Bitcoin and advisor to the President, has come up with an ambitious plan for El Salvador during Bukele’s second term. Keiser thinks that the country’s wealth will be more and more controlled by its citizens through decentralized Bitcoin nodes.In this scenario, the President will propose initiatives that the public can fund through crowd-sourcing, effectively reinventing the social contract and operating the nation on a circular BTC-focused economy.He also sees El Salvador becoming debt-free and using its geothermal and volcanic energy to power Bitcoin mining, aiming to control 10% of the global hash rate.The country has already made significant progress in this direction, using geothermal energy from the Tecapa volcano to mine 473.5 BTC, which is worth about $29 million. Of the 102 MW generated by the country’s power plants, 1.5 MW is dedicated to Bitcoin mining.According to data from Arkham, El Salvador currently holds 5,718 BTC, worth about $400.26 million. Keiser thinks this innovative approach will reduce the influence of central banks and make international financial institutions like the IMF irrelevant in the country’s economic policies.This article was originally published on U.Today More

  • 113 Shares179 Views

    in Economy

    India elects, Europeans start voting and old allies remember

    Standard DigitalWeekend Print + Standard Digitalwasnow $85 per monthBilled Quarterly at $199. Complete digital access plus the FT newspaper delivered Monday-Saturday.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts10 monthly gift articles to shareGlobal news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print editionEverything in PrintWeekday Print EditionFT WeekendFT Digital EditionGlobal news & analysisExpert opinionSpecial featuresExclusive FT analysisPlusEverything in Premium DigitalEverything in Standard DigitalGlobal news & analysisExpert opinionSpecial featuresFirstFT newsletterVideos & PodcastsFT App on Android & iOSFT Edit app10 gift articles per monthExclusive FT analysisPremium newslettersFT Digital Edition10 additional gift articles per monthMake and share highlightsFT WorkspaceMarkets data widgetSubscription ManagerWorkflow integrationsOccasional readers go freeVolume discountFT Weekend Print deliveryPlusEverything in Standard DigitalFT Weekend Print deliveryPlusEverything in Premium Digital More

  • 138 Shares119 Views

    in Economy

    Australia home prices continue to climb, Sydney back at record high

    Figures from property consultant CoreLogic showed national home prices rose 0.8% in May, the sixteenth straight month of growth, from April when it gained 0.6%. Prices are up 8.3% on a year earlier.CoreLogic Research Director Tim Lawless said low supply had kept Australian housing prices largely insulated from the combined effect of high interest rates, cost of living pressures and deeply pessimistic consumer sentiment. “To say the housing market has been resilient is an understatement,” Lawless said in a statement. “Fresh listings are being absorbed rapidly by market demand, keeping stock levels low and upwards pressure on prices.”The available housing supply, based on the number of homes advertised for sale over the past four weeks, remained well below average, CoreLogic data showed.That has led to prices climbing in state capital cities, with Perth up 2.0% in May, Adelaide rising 1.8% and Brisbane up 1.4%. In dollar terms, it is the equivalent of the median value rising by more than A$12,000 ($7,982) month-to-month.Sydney boasted a 0.6% growth, equalling the record high set in January 2022. Values had dropped by 12.4% since then, finding a floor a year later, but it has since risen 14.1% with the median value of a home in Australia’s biggest city now just under A$1.16 million ($771,632).Melbourne prices nudged higher by 0.1% in May and 0.5% in the national capital of Canberra.A Reuters poll out last week showed Australian home price rises would outpace overall inflation over the next two years and the failure of builders to boost supply has turned Australia into one of the world’s most expensive housing markets.”Inventory levels in these markets remain well below average despite vendor activity lifting relative to this time last year,” Lawless said. ($1 = 1.5033 Australian dollars) More

  • 125 Shares119 Views

    in Cryptocurrency

    $TRUMP Presale: The next ICO offering real-world utility and impact

    $TRUMP Coin: A Revolutionary Cryptocurrency with Real-World Utility and Philanthropic Mission.TrumpCrypto.io is excited to announce the launch of the $TRUMP Coin Initial Coin Offering (ICO), a groundbreaking cryptocurrency designed to merge digital innovation with tangible real-world benefits. With a total supply of 8,000,000,000 tokens and a pre-sale price of 0.016 USDT per token, $TRUMP Coin offers a unique investment opportunity.Why choose this $TRUMP Coin?$TRUMP by TrumpCrypto.io is more than just a cryptocurrency; it is a comprehensive ecosystem offering practical uses and supporting meaningful causes. The whitepaper outlines the core features:Robust Ecosystem: $TRUMP Coin is an ERC-20 token on the Ethereum network, aimed at creating a dynamic ecosystem with real-world applications.Charitable Contributions: Demonstrating the commitment to social responsibility, 10% of the total project profits are donated monthly to Disabled American Veterans, aiding those who have served. Additionally, a 0.25% burn fee on transactions is donated to the Trump National Committee Joint Fundraising Committee.Merch Store Integration: Holders can use $TRUMP Coin to purchase a variety of products from the upcoming exclusive Merch Store, including clothing, digital artwork, and other merchandise. This integration ensures that $TRUMP Coin has immediate utility for its users.Loyalty Rewards: Long-term holders of $TRUMP will benefit from a loyalty rewards program, offering discounts, early access to new products, and special promotions.Pre-Sale Price: 0.016 USDT per $TRUMP token (+ Bonus)These pre-sale terms offer early investors a prime opportunity to engage with $TRUMP Coin at an attractive rate.Participate in $TRUMP Pre-SaleInvestment PotentialInvesting in $TRUMP Coin means becoming part of a project with a clear roadmap for growth and a dual focus on utility and philanthropy. The strategic development plan outlined in our whitepaper ensures that $TRUMP Coin will be a formidable presence in the digital currency market.Participate in the #1 Trump Coin ICO to not miss out.TRUMP Coin invites investors, technology enthusiasts, and the broader community to participate in the $TRUMP Coin ICO and support this innovative venture. For more information, users can visit the website at trumpcrypto.io and review the comprehensive whitepaper.About $TRUMP Coin$TRUMPCoin is a pioneering cryptocurrency project dedicated to creating a stable, transparent, and efficient digital currency with a focus on real-world utility and philanthropic contributions. Their mission is to create a token offering a real-world use with direct impact on real-world events.Rav LLC is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.ContactKyle NelsonRav [email protected] article was originally published on Chainwire More

  • 113 Shares119 Views

    in Cryptocurrency

    Veteran Trader Peter Brandt Makes Sensational Bitcoin Fiat Argument

    According to Brandt, the argument for Bitcoin relates to the eventual destruction of fiat currency units. To illustrate his point, Brandt shared a chart comparing Bitcoin (BTC) against the total U.S. money stock (M1), a ratio that he says remains below the December 2017 high.Placing side by side, Brandt highlights striking similarities between this chart and the Dow Jones Industrial Average (DJIA) during the Great Stagflation of the 1970s.The 1970s was a period marked by high inflation and stagnant economic growth, a phenomenon known as stagflation. The DJIA during this time exhibited a particular pattern that Brandt believes is now mirrored in Bitcoin’s performance against the increasing supply of U.S. dollars. This pattern, known as an inverted head and shoulders, is often interpreted as a bullish signal, suggesting further upward movement in Bitcoin’s value.The inverted head and shoulders pattern is a technical analysis chart formation that indicates a reversal of a downward trend. It consists of three parts: a low point (head) flanked by two higher low points (shoulders). When this pattern forms, it signals the potential for a significant upward price movement once the price breaks above the resistance level formed by the shoulders.In the context of Bitcoin, this pattern suggests an impending momentum shift that could propel the cryptocurrency to new heights, much like the Dow eventually emerged from the stagflation period.Brandt’s viewpoint is not without skepticism, as he states that some market watchers may disagree with the definition of the pattern as a “continuation inverted head and shoulders.” Thus, he presents an argument using many references to back up his statements.The identified inverted head and shoulders pattern, if validated, might be the technical confirmation of a much larger fundamental shift — one that could redefine the very concept of money in the years to come.At the time of writing, BTC was trading at $67,722.This article was originally published on U.Today More

  • 125 Shares189 Views

    in Economy

    Saudi leads as Gulf bourses end higher; Egypt extends loss

    (Reuters) – Most stock markets in the Gulf ended higher on Sunday, led by the Saudi index, after a U.S. inflation reading supported expectations of interest rate cuts from the Federal Reserve.Saudi Arabia’s benchmark index rose 1.1% after it hit a more than five-month low on Thursday. The index was lifted by gains in almost all sectors, led by the IT, utilities and healthcare stocks.ACWA Power advanced 4.4% and Saudi National Bank, the kingdom’s largest lender, added 1.8%. Saudi Aramco (TADAWUL:2222), however, slipped 1.9% to 28.45 riyals per share, its lowest level in more than one year. Meanwhile, Saudi Arabia is offering investors about 1.545 billion Aramco shares, at 26.7 to 29 riyals. The sale drew more demand than the stock on offer within hours of kicking off on Sunday.The Qatari benchmark index was up for a second straight session, and rose 0.7%, aided by gains in energy, finance and real estate sectors. Qatar Fuel Co advanced 7.7%, and Qatar Gas Transport climbed 4.8%.The data showed Friday U.S. inflation rose in line with market expectations in April, spurring hopes of interest rates cuts by the Fed. Most Gulf currencies are pegged to the dollar, so U.S. monetary policy change is usually followed by Saudi Arabia, the United Arab Emirates and Qatar.Outside the Gulf, Egypt’s blue-chip index slipped for a fifth consecutive session to end 0.2% lower, with most sectors in the red.Eastern Company declined 5.8% and Talaat Mostafa Group dropped 2.1%. Juhayna Food, however, rose 2.5% after the foods maker posted a 41% increase in its first-quarter net profit.SAUDI ARABIA rose 1.1% to 11,625 KUWAIT was up 0.2% to 7,697 QATAR gained 0.7% to 9,385 EGYPT fell 0.2% to 26,870 BAHRAIN lost 0.3% to 2,034 OMAN was down 0.3% to 4,833 ($1 = 3.7505 riyals) More

  • 188 Shares109 Views

    in Cryptocurrency

    DogeMob Expands Ecosystem with Game Development, Staking, Listings on BitMart, and MEXC, Gate.io and Bitget

    DogeMob, a prominent player in the meme coin sector, today announced several key developments and updates that underscore its evolution from a meme-driven concept to a multi-faceted crypto platform. With a range of new features and significant community growth, DogeMob is set to enhance user engagement and utility within its ecosystem.DogeMob has recently expanded its presence on global cryptocurrency exchanges. Following its initial listings, the platform is now actively traded on BitMart, and MEXC, Gate.io and Bitget. This expansion facilitates greater accessibility and liquidity for the $DOGEMOB token, broadening its investor base and reinforcing its market presence.In line with its commitment to enhancing token utility, DogeMob has completed its much-anticipated web3 game, DogeMob Arcade. This development introduces new functionalities for the $DOGEMOB token, integrating entertainment with transactional utility, thus enriching the user experience and engagement across its platform.Further empowering its community, DogeMob boasts a robust governance model where token holders play a pivotal role in steering the project’s direction. Through its on-chain voting system, holders can submit proposals and vote on various aspects of the project’s development, ensuring transparency and inclusivity in its growth trajectory.Adding to its user-centric approach, DogeMob offers a ‘stake and earn’ program that gives token holders the opportunity to earn $DOGEMOB tokens, with the flexibility to withdraw their stake at any time. This feature underscores DogeMob’s commitment to providing value and autonomy to its community.Financially, DogeMob has demonstrated substantial market activity, with over a million dollars in aggregated daily trading volume across centralized and decentralized exchanges. Moreover, the platform’s market capitalization has grown to exceed 6 million dollars.DogeMob is also verified on major crypto aggregators CoinMarketCap and CoinGecko, which offers users transparency and real-time data to make informed decisions. These listings provide credibility and enhance visibility in the competitive crypto space.Underpinning its technological foundation, DogeMob’s smart contract has been fully audited, and viewable here, and the platform maintains rigorous standards with a comprehensive KYC process, ensuring security and compliance. Additionally, DogeMob operates with a 0% buy-and-sell tax policy.The community around DogeMob has seen exponential growth, now boasting over 11,000 members in its verified Telegram group. This vibrant community is actively engaged in discussions about market trends, project developments, and the broader meme coin culture, contributing to a dynamic ecosystem.In 2024, DogeMob is set to amplify its platform with a series of strategic expansions and community-driven initiatives. On May 4th, the $DOGEMOB token was launched on Gate.io, and on May 28th the $DOGEMOB was then launched on Bitget further enhancing its liquidity and market presence. Throughout the year, DogeMob will focus on increasing community engagement through social media campaigns, AMA sessions, and partnerships with key influencers in the meme space. The latter half of the year promises exciting developments, including the release of community-inspired meme content, the introduction of DogeMob-themed NFTs, and interactive meme-based gaming experiences, further solidifying DogeMob’s position as a pioneering force in the meme coin ecosystem.About DogeMobDogeMob is a leading meme coin platform that combines the playful culture of memes with serious cryptocurrency innovation. With a fixed supply of one billion tokens, DogeMob is designed to provide both stability and excitement in the volatile altcoin market. The platform’s commitment to community-driven growth, comprehensive governance, and innovative crypto solutions continues to position it as a standout project in the blockchain space. For more information, users can visit DogeMob’s website, and join the community on Telegram and X.Contact:Danny AritiDogeMobSydney, NSW [email protected] [email protected] article was originally published on Chainwire More