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The west must outdo rival efforts to build an alternative financial system
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Aurelia Butler
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How will the US election affect markets?
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Davos entourages will face 10-fold price increase next year
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Fed poised to look past US election uncertainty with quarter-point rate cut
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Mexico grapples with its hidden Chinese trade problem
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Chickpeas for tangerines: Russian exporters ‘taste’ barter system
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Australia to slash $10 billion off student debt amid cost of living pressures
The move builds on May’s budget, which attacked cost of living pressures in Australia and gave debt relief for students, as well as more investment to make medicines cheaper, and a boost to a rent assistance programme.”This will help everyone with a student debt right now, whilst we work hard to deliver a better deal for every student in the years ahead,” Albanese said in a statement announcing the cut to student loans for tertiary education. The changes would mean the average graduate with a loan of A$27,600 would have A$5,520 wiped, the government said, adding that they would take effect from June 1, 2025.The government said it already planned to cut the amount that Australians with a student debt have to repay per year and raise the threshold to start repayments.If reelected at the next general election, due in 2025, Labor would also legislate to guarantee 100,000 free places each year at the country’s Technical and Further Education institutes, Albanese said.”This is a time for building, building better education for all,” he said in a speech to supporters in South Australia state capital Adelaide.Cost of living pressures, stoked by stubbornly high inflation, have a special resonance with a federal election looming and the centre-left Labor government now polling behind their conservative opponents.($1 = 1.5246 Australian dollars) More
BTC to $97,000? Peter Brandt Weighs In on Bitcoin Price
At the time of writing, BTC has fallen 2.28% in the previous 24 hours to $69,373, extending profit-taking from Tuesday’s high of $73,600. If today concludes in losses, BTC will have traded in the red for the fourth day in a row since reaching this high.As the market considers Bitcoin’s next move, veteran trader Peter Brandt has weighed in on the price movement, tweeting “bitcoin current chart” and attaching a screenshot of the BTC weekly chart.Although Brandt did not provide further analysis, the pattern highlighted in his tweet suggested a potential breakout for Bitcoin. The chart pattern depicted resembled a diagonal pattern with slanted boundary lines, which Brandt had previously indicated in one of his recent Bitcoin analyses, implying a target of $97,056 upon breakout.Bitcoin has made moves in recent weeks, attempting to surpass its current all-time high of $73,750 attained in March.While the market is excited about a potential breakout, Brandt indicated in a late October analysis on X that Bitcoin’s diagonal pattern might not yet represent a breakout.According to Brandt, “Diagonal patterns with slanted boundary lines are difficult to trade because the nicking of a boundary line, while exciting to bulls, does not represent a breakout.”For Bitcoin to achieve a real breakout, Brandt indicated a decisive close above $76,000: “To be considered a for real breakout, price on the daily chart must close above 76,000 (ATR close above Mar high) and be confirmed.”This, according to Brandt, still needs a lot of work to be done: “Looking at a weekly chart, this advance has only nicked important chart points. Lots of work still needs to be done.”This article was originally published on U.Today More
