Aurelia Butler

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  • 163 Shares169 Views

    in Economy

    UBS’s Rose: Little reason for Fed to cut after blowout December jobs report

    “Given the overall strength of the recent economic data, there is little reason for the Fed to consider cutting rates anytime soon,” UBS Senior US Economist Brian Rose said in a note.The nonfarm payrolls report for December showed nonfarm payrolls increased by 256,000, far above consensus expectations of 163,000. The unemployment rate ticked down to 4.1%, returning to June’s level, while average hourly earnings rose 0.3% month-over-month, in line with expectations.The monthly jobs report followed a string of strong labor market including the rise in job openings in November for second-straight month, Rose said. The ratio of job openings to unemployed workers, a key metric for the Fed, is now back near late-2019 levels just before the pandemic.The signs of ongoing strength in the labor market, however, hasn’t forced UBS to ditch its call for two rate cuts in June and September, respectively. But Rose said the base for cuts will “require softer data on both the labor market and inflation in the months ahead.”‘A pivot toward rate hikes is “unlikely,” UBS believes, characterizing tbe “strong but not overheated.”The hot jobs report comes just days after the Fed’s minutes from its December meeting, showed that Fed members believed that the bar for further cuts had risen on concerns about sticky inflation. After the December meeting, the “Committee would likely slow the pace of further adjustments to the stance of monetary policy,” the December meeting minutes showed on Jan. 8.  More

  • 138 Shares199 Views

    in Economy

    Macquarie forecasts single rate cut in 2025 after robust jobs report

    The December report highlighted a substantial increase of 256,000 in headline payrolls, marking the most significant gain since March, although the numbers might reflect seasonal variations that could normalize in January.The household survey, another component of the report, revealed an even more substantial employment increase of 478,000, which effectively countered a previously concerning result from November. Consequently, the unemployment rate edged down to 4.1%. The report also pointed to positive trends in leading indicators, such as a decrease in the number of permanent job losers, signaling a robust job market.In light of these findings, Macquarie’s economists maintain their prediction of limited further monetary easing by the Federal Open Market Committee (FOMC). They foresee only one additional rate cut of 25 basis points, with the fed funds rate expected to bottom out in the range of 4.0% to 4.25% for the current cycle. While the initial expectation was for the cut to occur around March or May, the economists now suggest that the timing might be pushed back due to shifting risks.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

  • 100 Shares179 Views

    in Cryptocurrency

    German Policymakers Working on New Bitcoin Adoption Strategy

    First, Lindner suggested that the German government issue bonds on the blockchain. This involves using blockchain technology to issue government bonds for efficiency and transparency on the bond market. The move would position Germany as a leading nation in that regard.A second option would involve Germany or the EU deciding to hold Bitcoin as a strategic reserve asset. If agreed upon, it would align with the recent interest by governments across the globe to adopt the asset as a store of value and hedge against inflation.Another route, the third option suggested by Lindner, is for Germany to enable Bitcoin exchange-traded funds (ETFs) in the EU. This could provide accessible, regulated and mainstream investment options for both institutional and retail investors.The goal is to encourage greater adoption and liquidity on the cryptocurrency market. Currently, the European market lacks Bitcoin ETF and offers BTC via exchange-traded notes (ETN) or exchange-traded commodities (ETCs).The offloading of that large volume of Bitcoin onto the market hugely impacted the price of Bitcoin, with the asset declining from around $70,000 to $56,000.As of this writing, Bitcoin is exchanging hands for $94,888.47 as it struggles to reclaim the $100,000 mark. Some analysts opine that Bitcoin is currently in the distribution phase, and the price will pick up once it is over.This article was originally published on U.Today More

  • 150 Shares119 Views

    in Cryptocurrency

    DOGE Will Never ‘Cost You $1 Billion’ in Future, Dogecoin Team Says

    The post was inspired by the recent news that the 10,000 Bitcoin spent by Laszlo Hanyecz, who bought pizza with BTC in 2010, would have now turned into $1 billion.The post emphasized Dogecoin payment utility which, as they believe, surpasses that of the world’s largest cryptocurrency, Bitcoin.However, now, those 10,000 BTC — if they had not been spent on the pizzas — would have cost $1 billion and perhaps would still have been owned by Hanyecz.Dogecoin’s post says that one can also buy a pizza with DOGE without having to worry that the meme coins one had spent would one day surge to $1 billion in fiat. They stressed that, perhaps unlike Bitcoin, Dogecoin is “a currency designed for everyday transactions, not grownup’s fairy-tales.” Dogecoin exists “for regular people,” the X post stressed.That canvas was used during a speech by Senator Joni Ernst (IA) of the Republican Party. She spoke about the harsh necessity of cutting down extensive government spending and praising D.O.G.E — the Department of Government Efficiency spearheaded by billionaire entrepreneurs Elon Musk and Vivek Ramaswamy.“Doge is inevitable,” the Senator proclaimed during her speech. On the canvas, Doge is overtaking Washington, D.C. She urged other politicians to join D.O.G.E. and support it.Billy Markus commented on that, saying that he was very much amused to see “this doge meme IN THE SENATE.”This article was originally published on U.Today More

  • 88 Shares149 Views

    in Cryptocurrency

    ‘Buy The Future’, Bitcoin Evangelist Saylor Insists

    Michael Saylor published his Bitcoin motivating tweet, hinting that Bitcoin will be widely spread in the world in the future and it is a good idea to buy it now before it is too late.“Buy the future,” he tweeted, where the “B” in the “buy” bears double strokes which makes it look like a Bitcoin mascot. The tweet also contains an AI-generated image of Saylor captured standing near a window behind which the New York City can be distinguished in the background with the Empire State building which, per Saylor, represents the future.By now, more than 19 million Bitcoins have already been mined, extracted from the cyber space. Meanwhile, spot Bitcoin ETFs (BlackRock (NYSE:BLK) and Fidelity being the leaders here), companies and financial institutions have been accumulating BTC actively over the past year. Besides, in 2024, the fourth Bitcoin halving took place, reducing block rewards from 6.25 BTC to 1.125 BTC, meaning that now there is less BTC inflowing the market.The last Satoshi (Bitcoin particle) was set to be unlocked and mined in the year 2140, according to the algorithm designed by Satoshi Nakamoto.This article was originally published on U.Today More

  • 113 Shares179 Views

    in Cryptocurrency

    Massive Dormant Bitcoin Whale Awakens After 6 Years: Details

    Although the intention of this massive deposit is currently unknown, it usually signals potential intent to sell. This speculation sounds plausible given the asset’s value as of when the whale made the purchase.Six years ago, Bitcoin’s average price was $7,000. That is, the entire 500 BTC was accumulated at about $3,500,000. The whale’s holding has now made a staggering profit and is worth over $47 million at the current market value.As of this writing, the BTC price changed hands at $94,404.63. However, using a marked-down price of $94,400 gives a value of $47,200,000. This gives a profit margin of $43,700,000 should the whale decide to sell off the total holdings.Analysts speculate that since Bitcoin has entered its distribution phase, the whale might have decided to sell off this 500 BTC. The whale might think of raising profits for possible reinvestment in other ventures while likely just liquidating.Certified NBA legend Scottie Pippen insists that the current price movement is a bear trap artificially created to lure investors into selling. Pippen believes that BTC will soar after most people dump it on the market. Thus, he advised his followers not to sell.Whatever the reason the 500 BTC whale stirred, market watchers will track his next moves to see if selling is part of it. A large holder with 357 BTC also became active after 11 years — just before the end of December 2024.This article was originally published on U.Today More

  • 138 Shares109 Views

    in Cryptocurrency

    Wei Zhou’s Coins.xyz Launches in Australia with Competitive Fees and Features

    Under the leadership of Wei Zhou, former Binance CFO, and Jeff Yew, Monochrome founder and CEO, Coins.xyz is strategically positioned to provide Australian traders with seamless access to the global digital asset economy. Their focus on adhering to Australian regulatory standards sets the stage for building trust and fostering transparency within the industry.Coins.xyz offers one of the most competitive fee structures in the Australian crypto market:When compared to other leading platforms, Coins.xyz emerges as a cost-effective choice:Lower fees provide significant savings for both novice and experienced high volume traders.Australian users can effortlessly deposit AUD directly from their bank accounts, ensuring fast and secure funding. Coins.xyz has prioritized user experience by offering an intuitive platform suitable for both beginners and advanced traders, making complex strategies easier to execute.In an industry where support can make or break user experience, Coins.xyz sets itself apart with 24/7 customer assistance. The platform guarantees faster response times compared to competitors, ensuring users have uninterrupted access to help whenever they need it.Coins.xyz’s launch in Australia marks a pivotal moment for crypto enthusiasts seeking a transparent, affordable, and intuitive trading experience. With industry-leading fees, regulatory compliance, and robust customer support, the platform is well-positioned to become a top choice for traders. More