Aurelia Butler

More stories

  • 138 Shares54 Views

    in Economy

    A Fed on hold, for now, eyes strong jobs, easing inflation

    WASHINGTON (Reuters) – At their last meeting in December, U.S. Federal Reserve officials were worried about inflation getting stuck above their 2% target and had watched job gains seesaw in what seemed an emerging decline.When they meet on Jan. 28-29, the mood around the most recent economic data at least will have shifted back towards more faith that inflation will continue to fall and a further easing of concern about the state of the job market. The usual caveat among economists – “all things equal” – may prove especially important given the uncertainty about how the edicts of the new Trump administration may influence import prices, the size of the labor force, and the regulatory landscape.Measures of policy uncertainty have spiked since Donald Trump’s election win in November. But the data since December remains helpful to the bulk of Fed officials who feel the job market and the economy overall are in healthy shape, with inflation expected to ebb further in coming months.After cutting its benchmark rate a full percentage point in the final three meetings of 2024, the Fed is expected to pause and leave it unchanged in January in the 4.25%-to-4.50% range as policymakers assess how much longer “tight” monetary policy is needed and how much they would need to cut to reach a “neutral” rate of interest.INFLATION SEEMS SET TO IMPROVEThe latest Consumer Price Index report showed inflation rising slightly in December but was driven by volatile energy prices, something the Fed tries to factor out in its analysis of underlying price trends. The core rate of inflation, excluding food and energy, fell slightly. More significantly for the Fed, CPI and other components of the separate Personal Consumption Expenditures price index suggest it rose at a roughly 2% annual rate through December and has been near the Fed’s target on a three-to-six month basis.Moreover, Fed officials feel the data are primed to turn in their favor this year. Since inflation was unexpectedly hot at the start of 2024, as those strong months fall from the annual calculations so-called “base effects” will help anchor inflation lower, all else equal.JOB GAINS STILL HOLDING UP”Downside risks to the labor market do appear to have diminished,” Fed Chair Jerome Powell said after the December meeting. While the job market was still cooling, he said, it remained “solid,” a situation the Fed hoped to maintain. Data since then has held up, with the economy adding an estimated quarter of a million jobs in December and the unemployment rate falling to 4.1% – another reason officials feel comfortable pausing rate cuts at least for now. More

  • 100 Shares42 Views

    in Economy

    AmEx profit jumps on strong holiday season spending

    A strong holiday season against the backdrop of a falling rate environment helped AmEx sustain spending volumes.AmEx, which mostly caters to wealthy consumers, has been able to better navigate economic uncertainty compared to some of its peers, as higher-earning individuals are less sensitive to inflation and elevated borrowing costs.Shares of the company dipped 0.3% before the bell.Billed business, a measure of spending on AmEx cards, rose 8% to $408.4 billion from last year in the fourth quarter.The company’s profit rose to $2.17 billion, or $3.04 per share, in the three months ended Dec. 31, from $1.93 billion, or $2.62 per share, a year earlier.”We exited the year with increased momentum, with billings growth accelerating to 8 percent in the fourth quarter, driven by stronger spending from our consumer and commercial customers during the holiday season,” CEO Stephen Squeri said.New York-based AmEx’s revenue rose 9% to $17.18 billion.Meanwhile, AmEx’s provisions for credit losses, fell to $1.3 billion in the quarter, compared with $1.4 billion a year earlier.A resilient economy and a string of rate cuts by the Federal Reserve have eased concerns around credit quality. AmEx’s affluent consumers have also allowed the company to scale back loan loss provisions compared with peers that serve a broad spectrum of customers.AmEx expects 2025 earnings per share to be between $15 and $15.50, compared with analysts’ estimates of $15.23, according to estimates compiled by LSEG. The company also forecast 2025 revenue growth between 8% and 10%, compared with Street expectations of 8.1%. More

  • 75 Shares36 Views

    in Cryptocurrency

    Simplifying Crypto Payments: Introducing Bybit Pay

    Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to launch Bybit Pay, an innovative payment platform designed to seamlessly connect traditional finance with the digital economy. This new solution is about processing payments and building strategic partnerships that drive growth, innovation, and financial inclusion on a global scale.Bybit Pay is a next-generation payment solution designed to simplify transactions across fiat and cryptocurrencies. With seamless integration across websites, mobile apps, and point-of-sale (POS) systems, Bybit Pay empowers businesses to offer efficient, secure, and low-cost payment options to their customers. Whether it’s for online platforms, in-store purchases, or cross-border payments, Bybit Pay bridges the gap between traditional payment methods and the growing demand for digital financial services.Bybit Pay is happy to welcome more forward-thinking partners joining its ecosystem – businesses, payment providers, and service platforms looking to innovate and scale their operations in the evolving digital finance landscape. Partners gain access to:For businesses, Bybit Pay offers the tools to drive potential revenue growth, reduce operational costs, and improve financial efficiency. At the same time, customers are able to benefit from faster transactions, lower fees, and the freedom to choose between fiat and cryptocurrency payment methods – creating a frictionless payment experience for all.A Vision for the FutureBybit Pay represents a new chapter in digital finance – where innovation, scalability, and reliability come together to create unparalleled opportunities for growth.#Bybit / #TheCryptoArkAbout BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.For more details about Bybit, please visit Bybit Press For media inquiries, please contact: media@bybit.comFor updates, please follow: Bybit’s Communities and Social MediaContactHead of PRTonyBybittony.au@bybit.comThis article was originally published on Chainwire More

  • 113 Shares56 Views

    in Cryptocurrency

    Flipster Launches Superstars Program Amid Rapid User Growth Globally

    In a move to foster deeper connections with crypto communities and empower individuals passionate about the digital economy, Flipster, a global crypto trading exchange with millions of users and nearly $120 billion in annual trading volumes, is launching the Flipster Superstars Program. This innovative Superstars program is designed to empower individuals passionate about crypto to lead the conversation, spotlight innovative ideas, and redefine how trading platforms engage with their users.Flipster Superstars offers an opportunity for crypto digital enthusiasts to influence the industry from within. The program calls on creators, community influencers, and storytellers to team up with Flipster, leveraging their unique talents to drive awareness and adoption of the platform’s cutting-edge features while amplifying its presence in nearly 200 countries.A Platform for Crypto TrailblazersFlipster Superstars focuses on three core roles to engage a diverse range of talents:Flipster Superstars offers performance-based rewards of up to 100,000 USDT, along with exclusive previews of campaigns and access to premium trading tools. Further details on the opportunities and how to become a Flipster Superstar can be found here.A Collaborative Initiative for Crypto Digital EnthusiastsFlipster Superstars is a voluntary initiative designed for individuals passionate about crypto and community engagement. Participants will have the chance to work closely with Flipster users and employees while gaining firsthand experience in the crypto space. About FlipsterFlipster is a global cryptocurrency exchange serving millions of users globally. Catering to both novice and experienced traders, the platform offers over 300+ trading pairs across futures and spot markets, with zero trading fees and tools designed for seamless, efficient trading. Beyond trading, Flipster provides opportunities for users to participate in the broader crypto ecosystem, including yield-generation options with up to 22% APR on deposits with no lock-in periods and staking features like Launchpool.Users can learn more at flipster.io or follow x.com/flipster_io for the latest updates.ContactFlipsterpr@flipster.ioThis article was originally published on Chainwire More

  • 250 Shares45 Views

    in Cryptocurrency

    Secret Bitcoin (BTC) Uptrend: 3 Levels to Watch, This Can End XRP Price Rally, Dogecoin (DOGE) Receives Massive Helping Hand

    The $99,500 range is the first level to keep an eye on because it coincides with a crucial trendline that has helped to stabilize the price movement of Bitcoin in recent months. The current upward trend is based on this level, which signals intense buying interest whenever the price gets close to it. Bitcoin’s bullish argument is strengthened by a hold above this level. The resistance at $107,000, a psychological barrier that Bitcoin recently tested, comes next. A surge of bullish sentiment would probably be triggered if the asset broke through this level – even though recent attempts to do so failed. This level represents a possible breakout point for additional gains because it coincides with the upper boundary of the indicated ascending trendline. Finally, the pivot level of $102,000 marks the middle of the current trading range for Bitcoin.It is a key factor in determining momentum in the short term. A drop below might indicate a brief consolidation or a retest of the $99,500 support, while sustained price action above $102,000 would probably encourage buyers to push the price higher. Based on its positioning above important exponential moving averages and ascending trendlines, the overall technical picture indicates that Bitcoin is firmly in an uptrend. Despite market volatility and macro uncertainties, this structure shows that investors are becoming more confident. XRP’s lower high around $3.20 on the chart indicates that resistance levels are getting more difficult to overcome. This is an important psychological level, and if higher prices are not pushed, buyers may be deterred from making a strong move. In order to prevent a further decline, the asset must hold onto critical support levels like $2.75, which are getting closer.A lower high formation may have a domino effect on market sentiment. It frequently means that buyers are less inclined to drive prices to all-time highs as selling pressure on the asset’s bullish energy increases. Losses could worsen if this pattern continues, as it may result in a declining trend. In spite of this, the price of XRP is still above important exponential moving averages such as the 50 EMA, and the overall trend is encouraging. But in order for the asset to regain its bullish momentum, these levels must be maintained. A decline beneath $2.75 might be the start of a more substantial correction.DOGE is currently trading at about $0.35, holding onto the lower edge of its upward channel, which is supported by the 50-day EMA. The rally’s sustainability is called into question due to the lack of significant upward momentum, even though it maintains this structure. The lower boundary of the ascending channel offers a crucial floor, but it is frequently weakened by repeated testing, raising the possibility of a breakdown.Because of the moderate volume levels, there may not be much buying pressure pushing DOGE higher. Near $0.31, or the 100-day EMA, is the next crucial support level if the asset is unable to maintain its position within the channel. Should DOGE break through this support, it might be the start of a more significant correction that could push it closer to the $0.25 range. If DOGE wants to restore its bullish confidence, it must overcome the $0.40 resistance. Reaching this goal would suggest that buyers are once again interested, and it might pave the way for a run toward earlier highs around $0.50. The asset may enter a longer period of consolidation if there is a break below the ascending channel, which could deter investors. Dogecoin’s low ranking in its channel provides some hope for the time being, but its future hinges on its ability to generate enough demand to offset selling pressure. Traders should be ready for both a breakout and a possible decline below key levels as the market keeps an eye on its movements.This article was originally published on U.Today More

  • 163 Shares36 Views

    in Cryptocurrency

    Bitcoin price today: steady at $104k amid muted Trump cheer; $TRUMP losses deepen

    The President’s recently launched memecoin, $TRUMP, also extended its losing streak amid heightened volatility after its launch last week. While risk appetite improved after Trump called for lower interest rates and flagged a less severe stance on China, traders appeared to be largely biased towards stocks.Crypto markets were also underwhelmed by a lack of clear details on an order from Trump for the creation of a national digital asset reserve, which made no mention of  Bitcoin.Bitcoin rose 2.6% to $104,772.5 by 00:23 ET (05:23 GMT). The crypto was trading below record highs of over $109,000 hit earlier this week, but was also trading above the week’s lows. Trump on Thursday issued an executive order calling for the formation of a working group aimed at drafting new digital asset regulations and exploring the potential for a national crypto stockpile.The order, to some extent, delivered on Trump’s promises to quickly overhaul crypto regulation and create a friendlier environment for the industry. The order also banned the creation of central bank digital currencies in the U.S., and ordered that banking services to crypto firms be protected. The working group under Trump’s order will consist of officials from several arms of the government, including the Treasury, the Commodity Futures Trading Commission and the Securities and Exchange Commission. But the order sparked mixed reactions in crypto markets, given that the order still did not provide clarity on just what Trump’s policies will entail.Traders were also unsure how Trump will create a national crypto reserve, given that any move requiring Congressional approval will likely face resistance from fiscally cautious lawmakers. Additionally, the SEC on Thursday rescinded a major accounting requirement for organizations holding digital assets- SEB 121- which mandated strict disclosure requirements for companies providing digital asset custody services. Broader crypto prices were mostly positive on Friday, although most tokens were headed for a muted weekly finish. World no.2 crypto Ether rose 5.4% to $3,369.80, while XRP rose 0.6% to $3.1571.Among other altcoins, Solana, Cardano, and Polygon moved in a tight range, while Dogecoin rose 1%.Among meme tokens, $TRUMP sank 9% to $34.192, extending its run of recent losses after a volatile launch last week.While the memecoin’s launch was initially cheered by markets- which drove the coin to peaks near $80- it has since trended sharply lower. High volatility in the token, coupled with ethical concerns over Trump using his influence to manipulate markets, were the two biggest points of weight on the memecoin, which commanded a market capital of over $14 billion at its peak.Still, the memcoin likely netted the President billions in paper gains.   More

  • 163 Shares33 Views

    in Economy

    BOJ likely to raise rates to highest in 17 years, signal more hikes

    TOKYO (Reuters) -The Bank of Japan is expected to raise interest rates on Friday to their highest levels since the 2008 global financial crisis, as a broad stocks rally worldwide calms policymakers’ fears U.S. President Donald Trump’s tariff threats could upend markets.With traders almost fully pricing in the chance of a rate hike, attention now shifts to any clues from BOJ Governor Kazuo Ueda in his post-meeting briefing on the pace and timing of further increases.At the two-day meeting concluding on Friday, the BOJ is widely expected to raise its short-term policy rate from 0.25% to 0.5% – a level Japan has not seen in 17 years.The move would underscore the central bank’s resolve to steadily push up interest rates to around 1% – a level analysts see as neither cooling nor overheating Japan’s economy.”Market hasn’t shown much negative reaction to Trump’s comments, so the BOJ will probably proceed with a rate hike,” said Naomi Muguruma, chief bond strategist at Mitsubishi UFJ (NYSE:MUFG) Morgan Stanley (NYSE:MS) Securities.A hike by the BOJ would be the first since July last year when the move, coupled with weak U.S. jobs data, shocked traders and triggered a rout in global markets in early August.Keen to avoid a recurrence, the BOJ has prepared markets with strong signals by Ueda and his deputy last week that a rate hike was on the cards. The remarks caused the yen to rebound as markets priced in a roughly 90% chance of a rate increase.In a quarterly outlook report due after the meeting, the board is expected to raise its price forecasts on growing prospects that broadening wage gains will keep Japan on track to sustainably hit the bank’s 2% inflation target.As inflation has exceeded the BOJ’s target for nearly three years and the weak yen has kept import costs elevated, Ueda is likely to stress that more rate hikes are forthcoming.Japan’s core consumer inflation accelerated to the fastest annual pace in 16 months in December, data showed on Friday, in a sign rising fuel and food prices continue to push up living costs for households.Many analysts already expect the central bank to hike rates again later this year, barring a Trump-induced market shock that hits global growth and Japan’s fragile economic recovery.”After hiking to 0.5%, the BOJ will probably raise rates at a pace of roughly twice a year. As such, the next rate hike could happen in September,” said Mari Iwashita, executive economist at Daiwa Securities.”Much will depend on how U.S. growth and inflation plays out, how that will affect the Federal Reserve’s policy and moves in the dollar/yen,” she said.The domestic political calendar may also affect the BOJ’s rate-hike timing with an upper house election slated for July, when Prime Minister Shigeru Ishiba’s minority coalition could struggle to garner votes, some analysts say.After taking the helm in April 2023, Ueda dismantled his predecessor’s radical stimulus programme in March last year, and pushed up short-term interest rates to 0.25% in July.BOJ policymakers have repeatedly said the bank will keep raising rates, if Japan makes progress in achieving a cycle in which rising inflation boosts wages and lifts consumption – thereby allowing firms to continue passing on higher costs. More

  • 138 Shares54 Views

    in Economy

    UK consumer morale sinks to lowest since late 2023: GfK survey

    The monthly consumer confidence index published by market research firm GfK fell in January to -22 from -17 in December, its lowest reading since December 2023. A Reuters poll of economists had pointed to smaller decline to -18.The GfK survey is not adjusted for seasonal variations and has shown a tendency in recent years to fall in January, but the latest drop was larger than usual.All five of the survey’s components declined, echoing a run of downbeat economic signals since finance minister Rachel Reeves’ Oct. 30 budget, which raised taxes on businesses to help increase funding for investment and public services.”These figures underline that consumers are losing confidence in the UK’s economic prospects,” said Neil Bellamy, consumer insights director at NIQ GfK.He pointed to a big rise in GfK’s savings index – which is not part of the overall consumer confidence index – as an example of the cautious mood among households.Growth in Britain’s economy has slowed to crawl, according to the latest official data, although many economists still think the higher government spending in Reeves’ budget will help to raise growth – albeit temporarily – later this year.The Bank of England is widely expected by investors to cut interest rates on Feb. 6. More