Influential members of Congress, spearheaded by figures set to lead key roles in the Trump administration, propose revoking China’s Permanent Normal Trade Relations (PNTR) status, potentially escalating tariff rates on Chinese imports and signaling a significant shift in U.S.-China economic relation.
The USD/JPY pair has experienced a sharp decline in the value of the yen as optimism surrounding President Trump’s election victory boosts the dollar. Despite the Bank of Japan’s move towards rate hikes, concerns about a weakening yen and the future of US interest rates have brought market volatility into sharp focus. As officials call for rate hikes to support the yen and new US data impacts Fed rate predictions, the currency pair hits new milestones.
Wall Street witnessed a historic rally with record finishes for major indices, fueled by investors betting on sectors expected to benefit from President-elect Trump’s policies. Financial, tech, and cryptocurrency markets saw significant gains amidst promises of reduced regulations and innovative economic approaches.
The European Union has implemented significant tariffs on Chinese electric vehicles ranging from 7.8% to 35.3% to protect its market from allegedly subsidized imports, sparking strong opposition from China and concerns from German automakers.
South Korea announces new cryptocurrency regulations requiring businesses to register and report cross-border virtual asset transactions, targeting $8 billion in forex-related crimes since 2020.
Industry leaders discuss the potential revival of Initial Coin Offerings (ICOs), weighing their benefits against current fundraising methods in the evolving cryptocurrency landscape.
USD/JPY shows resilience after positive US Non-Farm Payrolls data, but faces potential range-bound conditions ahead of the CPI report. The currency pair’s movement reflects ongoing shifts in Federal Reserve policy expectations.
Dogecoin is testing critical $0.10 support after a 20% market cap drop, with potential for a significant rebound to $0.16 if the level holds, or further decline if breached.
Bitcoin.com has partnered with Kiln DeFi to offer USDC lending, allowing users to earn interest on their stablecoins through a transparent, on-chain process on Ethereum.
Shibarium transaction fees skyrocket by 2,024% as an Ethereum whale dumps 10,000 ETH after a two-year dormancy. Meanwhile, IntelMarkets presale gains traction, raising over $450K amidst market fluctuations.
