Economies.com
2025-04-08 13:00PM UTC
Bitcoin gained ground on Tuesday and expanded the gains for the second straight session, trading above $80,000 once more on a wave of recovery from five-month lows. Japan’s MetaPlanet raised its bitcoin holdings to another record high, bolstering the cryptocurrency’s reserve status and appeal. The Price Bitcoin rose 2.2% at Bitstamp today to $80,836, with a session-low at $78,777. On Monday, bitcoin rose 1%, the first profit in three days away from five-month lows at $74,434. Crypto Market Value The market value of cryptocurrencies rose by $45 billion on Tuesday to a total of $2645 trillion. MetaPlanet Japan’s MetaPlanet raised its bitcoin holdings by 160 additional units worth $13.32 million, with an average price of $83,264 per unit. After the new round of purchases, the company’s total bitcoin holdings are now up to 4206 units, valued at $351.31 million.
Economies.com
2025-04-08 12:36PM UTC
The US dollar fell in European trade on Tuesday against a basket of major rivals, resuming losses after a two-day hiatus and approaching six-month lows once more, amid mounting US-China trade tensions. Now global financial markets await the Federal Reserve’s meeting minutes tomorrow to look for more clues on the future of US monetary policies. The Index The dollar index fell 0.65% today to 102.78, with a session-high at 103.44. On Monday, the index rose 0.55%, the second profit in a row, moving away from a six-month trough at 101.27. Trade Tensions The White House quickly negated a report that alleges Trump is considering a 90-day hold on all tariffs except the China tariff, calling it “fake news”. Trump escalated the tension with China and threatened an even bigger 50% tariff on Chinese imports if Beijing insisted on its retaliatory tariffs on US products. Beijing vowed to “fight till the end” and asserted it won’t bow to US “blackmail”. Otherwise, US business leaders started to talk publicly about the damage being done to the market because of the global trade war, with JPMorgan CEO Jamie Damon warning from inflation and slower growth. US Rates Chicago Fed Governor Austin Goolsbey said that while corporations are concerned about tariffs, the central bank needs to look at hard data in its actual responses. According to the Fedwatch tool, the odds of a Fed May interest rate cut stood at 35%, while the odds of a June rate cut stood at 97%.
Economies.com
2025-04-08 11:19AM UTC
Gold prices rose in European trade for the first time in four days, trading above the historic barrier of $3000 an ounce on active short-covering, while the dollar weakened against major rivals. Even as the odds of multiple Fed rate cuts this year rose, the markets are still waiting for the Federal Reserve’s meeting minutes tomorrow to gather more clues on the future of monetary policy. The Price Gold prices rose 1.1% today to $3015 an ounce, with a session-low at $2967. On Monday, gold lost 1.8%, the third drop in a row, plumbing four-week lows at $2956 on concerns about actual demand in China. The Dollar The dollar index fell over 0.6% today, resuming losses after a two-day hiatus and approaching six-month lows against a basket of major rivals. It comes after China said it “will fight till end” against “US blackmail”, triggering concerns of an extended trade war. US Rates Chicago Fed Governor Austin Goolsbey said that while corporations are concerned about tariffs, the central bank needs to look at hard data in its actual responses. According to the Fedwatch tool, the odds of a Fed May interest rate cut stood at 35%, while the odds of a June rate cut stood at 97%. SPDR Gold holdings at the SPDR Gold Trust fell 6.02 tons on Monday to a total of 926.78 tons, a March 20 low.
Economies.com
2025-04-08 06:45AM UTC
Euro rose in European trade on Monday against a basket of major rivals, resuming gains after a two-day hiatus and moving once more towards seven-month highs as markets assess the flexibility of Donald Trump’s trade stance. After the US imposed new tariffs on EU imports, European authorities started working on a batch of emergency measures to boost the most affected sectors and potentially impose counter tariffs on US products. The Price The EUR/USD price rose 0.7% today to $1.0982, with a session-low at $1.0901. The euro fell 0.5% on Monday against the dollar on profit-taking away from seven-month highs at $1.1145. Trump’s Flexibility Despite Trump’s assertion that the recently imposed tariffs are permanent, he somewhat kept the door open for modifications. In new statements, Trump said that tariffs on Chinese products could be permanent, however, he said the US is looking for an agreement. As for the EU, Trump believes that shrinking the trade deficit with the EU is possible through bolstering US energy exports to the eurozone. Otherwise, US Treasury Secretary Scott Bessent said Trump has conducted talks on tariffs with Japanese Prime Minister Shigeru Ishiba on Monday. Bessent said that nearly 70 countries contacted the US administration to discuss the new tariffs, expressing hopes that negotiations with trade partners could lead to lower tariffs. European Preparation US tariffs on EU products were more aggressive than expected, with Trump imposing 20% tariffs on all EU imports. European Commission President Ursula Von Der lyne described the tariffs as a pain hit to the global economy, and asserted the EU will issue countermeasures if negotiations with Washington failed. She said the EU offered a zero for zero deal with the US to remove all tariffs on all sides and avoid an all out trade war.
