Aurelia Butler

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    in Economy

    Morning Bid: Awaiting China data deluge, US yields drift lower

    (Reuters) – A look at the day ahead in Asian markets. Relief from the positive U.S. and UK inflation surprises this week appears to have evaporated, at least as far as equity markets are concerned, even as Treasury yields and the dollar continue to drift lower into the last trading day of the week.Asian markets open on Friday against a mixed global backdrop. Yields are softening and Fed Governor Chris Waller on Thursday again signaled his willingness to cut rates, while U.S. bank earnings are beating expectations. But more evidence is needed that the global bond and inflation respite is anything other than temporary, and investors are nervy ahead of U.S. President-elect Donald Trump’s inauguration on Monday.Investors in Asia, therefore, could be forgiven for playing safe, minimizing exposure to risky assets ahead of the weekend, especially as it is a three-day break in the U.S. where markets are closed Monday for Martin Luther King Jr. Day.But the monthly Chinese ‘data dump’ lands on Friday. Beijing releases the December readings of house prices, industrial production, fixed-asset investment and retail sales, all of which will contribute to the big one: fourth-quarter and full-year GDP. Citi’s China economic surprises index is currently in positive territory, lifted by the series of policy pledges and market-boosting measures announced since September. But that boost has faded, and the index is its lowest in two months.Could Friday’s raft of indicators stop the drift? It’s possible that some, like export and new loans data released earlier this week, are on the strong side as businesses and households ramp up activity before tariff-threatening Trump takes office.On the other hand, the wider trend suggests negative surprises are more likely, and it’s worth noting that December was characterized by strong capital outflows, sluggish stock markets, and the biggest fall in bond yields since December 2008.Investors will also be keeping an eye on the TikTok saga for signs of how cool or otherwise U.S.-Sino relations are ahead of Trump’s return to the White House.The Chinese-owned video app, which is used by more than 170 million Americans monthly, is set to be banned on Sunday under a law mandating that it find a non-Chinese owner. But Trump’s incoming national security adviser said on Thursday the new administration will keep TikTok alive in the U.S. if there is a viable deal, in a potential reprieve for the firm.Currency volatility in Asia, meanwhile, is ticking higher after two central bank policy surprises this week from South Korea and Indonesia, and as the Japanese yen rallies strongly ahead of a possible Bank of Japan rate hike next week.Here are key developments that could provide more direction to markets on Friday:- China ‘data dump’ (December)- China GDP (Q4, full-year 2024)- New Zealand manufacturing PMI (December) More

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    in Economy

    World Bank warns that US tariffs could reduce global growth outlook

    WASHINGTON (Reuters) -The World Bank on Thursday warned that U.S. across-the-board tariffs of 10% could reduce already lackluster global economic growth of 2.7% in 2025 by 0.3 percentage point if America’s trading partners retaliate with tariffs of their own.U.S. President-elect Donald Trump, who takes office Monday, has proposed a 10% tariff on global imports, a 25% punitive duty on imports from Canada and Mexico until they clamp down on drugs and migrants crossing borders into the U.S., and a 60% tariff on Chinese goods. Some countries including Canada have already vowed to retaliate.The World Bank said simulations using a global macroeconomic model showed a 10-percentage point increase in U.S. tariffs on all trading partners in 2025 would reduce global growth by 0.2 percentage point for the year, and proportional retaliation by other countries could worsen the hit to growth.It said those estimates were consistent with outside studies which showed a 10-point increase in U.S. tariffs could “reduce the level of U.S. GDP by 0.4%, while retaliation from trading partners would increase the total negative impact to 0.9%.”But it noted that U.S. growth could also increase by 0.4 percentage point in 2026 if U.S. tax cuts were extended, it said, with only small global spillovers.The Bank for International Settlements on Thursday also chimed in, warning of increased “frictions and fragmentation” in global trade and calling a broad-based trade war between Washington and other countries “a tangible risk scenario.”The World Bank’s latest Global Economic Prospect report, issued twice yearly, forecast flat global economic growth of 2.7% in 2025 and 2026, the same as in 2024, and warned that developing economies now faced their weakest long-term growth outlook since 2000.The multilateral development bank said foreign direct investment into developing economies was now about half the level seen in the early 2000s and global trade restrictions were five times higher than the 2010-2019 average.It said growth in developing countries is expected to reach 4% in 2025 and 2026, well below pre-pandemic estimates due to high debt burdens, weak investment and sluggish productivity growth, along with rising costs of climate change.Overall output in emerging markets and development economies was expected to remain more than 5% below its pre-pandemic trend by 2026, due to the pandemic and subsequent shocks, it said.”The next 25 years will be a tougher slog for developing economies than the last 25,” World Bank chief economist Indermit Gil said in a statement, urging countries to adopt domestic reforms to encourage investment and deepen trade relations.Economic growth in developing countries dropped from nearly 6% in the 2000s to 5.1% in the 2010s and was averaging about 3.5% in the 2020s, the bank said. It said the gap between rich and poor countries was also widening, with average per capita growth rates in developing countries, excluding China and India, averaging half a percentage point below those in wealth economies since 2014.The somber outlook echoed comments made last week by the managing director of the International Monetary Fund, Kristalina Georgieva, ahead of the global lender’s own new forecast, to be released on Friday.”Over the next two years, developing economies could face serious headwinds,” the World Bank report said. “High global policy uncertainty could undercut investor confidence and constrain financing flows. Rising trade tensions could reduce global growth. Persistent inflation could delay expected cuts in interest rates.”The World Bank said it saw more downside risks for the global economy, citing a surge in trade-distorting measures implemented mainly by advanced economies and uncertainty about future policies that was dampening investment and growth. Global trade in goods and services, which expanded by 2.7% in 2024, is expected to reach an average of about 3.1% in 2025-2026, but to remain below pre-pandemic averages. More

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    in Cryptocurrency

    Satoshi Nakamoto’s Legendary Bitcoin Quote Rings True After 16 Years

    Bitcoin historian Pete Rizzo recently shared on X (formerly Twitter) a statement made exactly 16 years ago by the Bitcoin creator, on Jan. 16, 2009: “I might make some sense just to get some in case it catches on.””Satoshi Nakamoto on Bitcoin when the price was $0, exactly 16 years ago. Legendary,” Rizzo wrote, highlighting Bitcoin’s creator statement.This comment came days after Bitcoin launched and saw its first transaction. On Jan. 3, 2009, Satoshi Nakamoto mined the first block of the Bitcoin blockchain, known as the Genesis Block. On Jan. 12, 2009, Satoshi Nakamoto sent 10 BTC to computer scientist Hal Finney in the first-ever peer-to-peer Bitcoin transaction.Many in the cryptocurrency world believe Satoshi’s suggestion to “get some in case it catches on” was prophetic. Bitcoin has not only gained popularity but also established itself as a cornerstone of the cryptocurrency sector during the last 16 years.Bitcoin was worth $0 at the time, but its value has since surged. At the time of writing, Bitcoin was trading at $99,332, having reached an all-time high of $108,268 on Dec. 17, 2024. Bitcoin has a current market valuation of $1.96 trillion, having reached $2 trillion in December.Sixteen years later, Satoshi Nakamoto’s words and vision are still relevant, demonstrating the timeless nature of these insights and Bitcoin’s expanding influence.The digital asset blipped around the six-figure threshold in the early Thursday session, reaching highs of $100,880 and maintaining a more than 3% increase spurred by Bureau of Labor Statistics data the day before.The report pointing to falling core consumer prices revived bets on another Fed rate cut in July, boosting equities as well as cryptocurrencies.This article was originally published on U.Today More

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    in Cryptocurrency

    XRP Witnesses Epic Breakout Versus Bitcoin and Ethereum

    Interestingly, the price of XRP has not soared in line with the rest of the crypto market but in contrast to it. In the last few hours, the popular alternative cryptocurrency has seen its prices literally tear apart its main rivals in the face of Bitcoin (BTC) and Ethereum (ETH), with a stunning 16% rise from today’s lows against both leading cryptocurrencies. As a result, the price of XRP reached a valuation of 0.000033 BTC and 0.00099 ETH. This is still far from the all-time highs against both Bitcoin and Ethereum, with up to 657% and 269% room for growth, respectively. Where will all this liquidity go after a turnover in XRP? Into beta plays like HBAR or XLM? Or perhaps the rest of the altcoin spectrum can enjoy some of the new money flows?Consider too that XRP’s dominance on the crypto market is now estimated at 5.5%, and that figure was down 77% in October alone. Thus, we will definitely see some sort of reallocation, but when and where remains an open question.This article was originally published on U.Today More

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    in Cryptocurrency

    There’s No Second Best to Bitcoin (BTC), Reveals Michael Saylor

    It is a message that feels familiar but still has weight. Saylor’s conviction is crystal clear. He is convinced that Bitcoin is one of a kind, and nothing can challenge it. Other cryptocurrencies might have their moment or get a lot of attention, but for Saylor, they do not measure up to Bitcoin’s role as a digital powerhouse.The timing of his comments is pretty interesting. The crypto market is buzzing at the moment, with assets like XRP doing really well after a 16% surge in a single day. This always gets people talking about Bitcoin’s competitors.But Saylor’s view seems to be more long term, not getting caught up in short-term trends and speculation.Of course, there is always that question of it being compared to gold. Bitcoin, often called “digital gold,” makes some people think it will eventually be better than precious metal as a store of value.Some analysts, like Bloomberg’s Mike McGlone, look at the bigger picture, talking about Bitcoin’s relationship with the gold ratio or the potential impact of monetary policy. But Saylor does not really get into all that. He says that Bitcoin does not need comparison because it stands alone.This article was originally published on U.Today More

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    in Cryptocurrency

    Coins.xyz Launches in Brazil, Offers Game-Changing Solution for Foreign Businesses

    Entering Brazil’s vibrant financial ecosystem has long been a challenge for foreign companies, burdened by complex tax policies and regulatory requirements. Coins.xyz Brazil eliminates these barriers with its innovative crypto banking solution, enabling businesses to seamlessly tap into the market without the need for local incorporation.Businesses leveraging Coins.xyz Brazil can seamlessly process fiat deposits and withdrawals using PIX, Brazil’s leading instant payment platform. They can stabilize finances by hedging BRL balances with USD stablecoins and efficiently manage liquidity and currency conversion. The platform also provides over-the-counter (OTC) trading with no additional fees. Its scalable API and robust infrastructure further streamline the management of fiat and stablecoin liquidityThe complexities of setting up a local entity often deter global businesses from entering Brazil, but Coins.xyz Brazil provides an accessible, cost-effective alternative. By removing these obstacles, Coins.xyz empowers companies to focus on growth and operations. “At Coins.xyz, we’re committed to empowering businesses with financial solutions that combine the best of fiat and crypto. Through this service, we’re opening doors to Brazil’s dynamic market, helping businesses expand effortlessly and providing them with the innovative services and the infrastructure they need to get started in the market,” said Wei Zhou, Founder and CEO of Coins.xyz.Payment aggregators, e-commerce platforms, gaming companies, and streaming services can gain substantial benefits from this solution. These industries depend on smooth cross-border financial operations. Coins.xyz’s platform provides the tools needed to streamline payments, manage liquidity, and stay competitive in a dynamic market.With a team of experienced leaders in the cryptocurrency industry, including Founder and CEO Wei Zhou, who was instrumental in Binance’s hyper-growth, and Guilherme Bissoli, former head of fiat at Binance, leading the Brazil operations, Coins.xyz brings unmatched expertise and commitment to facilitating market entry.Coins.xyz is not just simplifying access to Brazil’s market; it’s redefining how global businesses operate in emerging economies. Discover how Coins.xyz Brazil can accelerate your market entry and position your business for success.For more information, visit Coins.xyz Brazil’s website at https://www.coins.xyz/pt-br/. More

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    in Cryptocurrency

    EarnOS raises $5 Million to reinvent brand-user interactions online

    Embracing Web3, EarnOS delivers global engagements where “everyone wins.”Harnessing instant global stablecoin payments, decentralized knowledge graphs, and AI-powered semantic analysis, EarnOS has made it possible for brands to reach the right people and for users to discover more of what they love while getting rewarded — no noise, no friction.Rather than serving up intrusive ads, EarnOS offers instant stablecoin rewards to people who complete engaging campaigns. They can spend these rewards in the real world through the EarnOS Debit Card. User privacy is at the core of EarnOS, enabled by zkTLS technology and a decentralized knowledge graph that shares only what matters with brands, keeping personal data safe.While preserving privacy, EarnOS uses AI-powered semantic analysis and inference that learns from each user’s own digital footprint, allowing brands to deliver experiences that feel more relevant and less like random promotions. This approach optimizes spend for advertisers while delighting consumers with products and services they actually need. Web3 technologies enable new ways for brands to interact with audiences, fostering discovery and creating authentic connections.With $5 million in funding, EarnOS, built on the XION blockchain, will expand its 320,000+ user base, and campaign functionality, enable self-service, and cultivate deeper brand partnerships globally. Brands and users are invited to join a future built on trust, value, and privacy—where everyone wins.EarnOS is a decentralized consumer discovery and engagement platform that redefines advertising through verifiable, privacy-preserving targeting. Leveraging zkTLS technology, stablecoins, and decentralized infrastructure, EarnOS enables brands to launch campaigns that connect with real, verified users while empowering users to own and monetize their engagement.About EV3Founded in 2022, EV3 (Escape Velocity Crypto) is a crypto-native firm investing in the intersection of crypto and real-world industries like telecommunications, advertising, and logistics. Led by two institutionally-trained investors who previously worked at Ribbit Capital, Apollo Global, and Goldman Sachs, EV3 believes that open infrastructure networks built on public blockchains will unlock the next $100T global economic value.Technology PartnersXION Layer1 Blockchain & Abstraction ProtocolMysten Labs (Sui) Layer1 Blockchain and Settlement ProtocolOpacity Network zkTLS TechnologiesWorld Verified IdentificationTurnkey Non-Custodial WalletsBridge Stablecoin Minting, Management & Card IssuanceCircle Stablecoin ManagementNotifi Notification ManagementImmersv Debit Card IssuanceMocaverse Ecosystem [email protected] article was originally published on Chainwire More