Bitcoin hits $90,000! How high can it go?

  • Bitcoin touches $90,000, up over 100% so far in 2024.
     
  • Markets bet $780mil on seeing $100k Bitcoin by Dec. 27
     
  • Ongoing bull run fuelled by hopes for incoming US President Trump's crypto-friendly policies
     
  • Bitcoin's surge also sent other cryptos and crypto-linked US stocks climbing in tandem

 

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This Week: Trump's win triggers market turmoil in China ahead of earnings.

 

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XAUUSD & Brent decline after Fed cut and Trump win

 

  • XAUUSD is below at $2,700 after Fed rate cut
     
  • Brent crude oil dip below $75, still up weekly
     
  • Rate cut aims to sustain economic growth, support oil
     
  • New administration's policies may boost US oil production

 

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GBPUSD is recovering ahead of BoE rate decision.

 

  • GBPUSD rebounds towards 50-period SMA
     
  • Bank of England expected to cut rates by 0.25%
     
  • Fewer rate cuts expected next year
     
  • Inflation forecast raised to 2.6% for 2025

 

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US Elections: Trump triumphs! What lies ahead for markets?

 

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Trump vs. Harris: How US election results could impact global markets

  • Markets predict return of President Trump via "Trump trades"
     
  • National polls: Harris vs. Trump race one of the closest in modern history
     
  • Harris win could offer relief for EUR, CNH, MXN, China and European stock indexes, green energy US stocks
     
  • Trump win could boost USD, Bitcoin, RUS2000, US stocks in oil, banking, and cryptos
     
  • Split Congress could be "business as usual" for rising risk assets
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This Week: Volatility ahead with US elections and Fed rate decision in focus!

 

Week Ahead

XAUUSD & BRN outlook ahead of US jobs report and US elections

 

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2024 US elections: The final countdown

As the 2024 US election draws near, Americans still appear divided on their choice of candidate, with no clear forerunner emerging between Democrat Kamala Harris and Republican Donald Trump.

Next Week: Big Tech earnings and vital US macroeconomic readings

 

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