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Bitcoin hit a record. Gold rose on safe haven demand walking into the Federal Reserve (Fed) Chair Jerome Powell’s testimony before the Congress. Powell is expected to ask policymakers for patience before cutting interest rates. Even though higher yields – that would result from a hawkish shift in Fed expectations – are not favourable for the valuation of gold, the size and the amplitude of a potential market selloff could help investors look past the higher opportunity cost of holding the non-interest-bearing gold and push the price of an ounce further up.
US major indices were down yesterday, as Apple...

China wants to grow 5% this year, create around 12 mio jobs in the urban area and print a 3% inflation. Targets are ambitious – especially the inflation target - given that the base effect will not play in favour of growth this year and deflation is not an easy battle to win. Caixin PMI printed an unexpected slowdown in the expansion of Chinese services in February, while Tesla tumbled 7% yesterday after announcing that its shipments from the Shanghai mega factory slumped to the lowest levels in a year due to a dull activity during the Lunar Year Holiday...

You wouldn’t know, by looking at the S&P500’s performance on Friday, that a US regional bank was having a rough time. Almost a year into last year’s regional bank crisis and about a month after a first post-earnings free-fall, the New York Community Bancorp – a commercial real estate lender in New York - fell more than 25% on Friday after saying that it discovered ‘material weaknesses’ in the way it tracks loan risks. But the KBW’s bank ETF closed the session near flat, the S&P500 rose to a fresh record, its 15th fresh record since the year began, Nasdaq...

Thank God! Yesterday’s inflation report from the US wasn’t worse than expected. A soft jobless claims figure also helped cooling the hawkish Federal Reserve (Fed) worries. The S&P500, Nasdaq and Russell 2000 rebounded yesterday. But the US dollar rebounded, as well, following the PCE print.
In Europe, the inflation heatmap was mixed. The EURUSD slipped below the 100 and 200-DMA, fundamentals back a further depreciation of the euro against the greenback provided the diverging strength of the underlying economies. The USDJPY is back above the 150, but can probably not go further up because traders fear a direct FX intervention...

Bitcoin is untouchable right now, will we cross ATHs soon? Where's the adventure going?

00:00 Intro
00:25 Preview
00:50 Bitcoin
03:43 Ethereum
06:11 Solana
07:56 Subscribe & Good bye

#crypto #cryptonews #cryptotrading #swissquote

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Economic data from the US kept investors in a cautious mode yesterday as the latest wave of data showed that the US economic growth was slower than expected and price indicators were higher than expected in Q4. That’s exactly the opposite of what the bulls wanted to see. The S&P500, Nasdaq and Russell 2000 fell and the US dollar index failed to extend gains above the 100-DMA.
All eyes are on the PCE prints today. The Federal Reserve’s (Fed) favourite gauge of inflation, the core PCE, is expected to print the biggest jump in a year, both 3 and 6-year...

Apple abandoned its ambition to build an electric car to concentrate on AI.
The S&P500 had a slow session yesterday, as the US yields were little changed on the back of mixed economic data, the rising suspense regarding whether the US will default on March 1 and a 7-year US government bond auction that settled above 4.30%. The durable goods orders tanked more than 6% in January, the most in nearly 4 years. Richmond manufacturing index came in better-than-expected, except for shipments, while Atlanta Fed’s GDPNow index was revised up to 3.2% for this quarter from 2.9% printed earlier.
Today,...

European and American stocks kicked off the week with a pause; the Stoxx 600, the S&P500 and Nasdaq 100 all retreated from an ATH level on Monday. MAMAA stocks were down around 1%, Amazon – which had it first day at Dow Jones Industrial index fell 0.15% whereas Nvidia managed to eke out a small gain.
It feels like there is a moment of calm and silence in the aftermath of major tech earnings, investors will decide whether this rally deserves to continue higher straight away. The week brings some important economic data on the table. US GDP data is...

Even though we saw some consolidation on Friday following a significant rally during the week, last week ended on a great note for the major US, European and Japanese stocks. Chinese and British stocks are left behind the global rally.
It’s important to keep in mind that while everybody was watching Nvidia with their stomachs in their mouth - and the broad-based stock rally that followed its earnings, the US yields were gently drifting higher. This week, investors’ attention will gently shift from earnings to economic data. The latest US GDP update – due Wednesday - is expected to confirm...

We knew that yesterday was going to be a good day – at least for the stock markets, as enthusiasm around Nvidia spilled over global equity markets, with US, European and Japanese stocks hitting ATH.
The cheery mood in the global stock markets was completely decoupled with the gloomy mood in the sovereign space. The US 2 and 10-year yields rose yesterday because some more Federal Reserve (Fed) members warned about cutting the US rates too early and too much. Yesterday’s stronger-than-expected manufacturing and housing data came as further evidence that the US economy doesn’t necessarily need rate cuts in...