He global dollar ció and him Bitcoin (BTC) reached a new high before the inauguration of donald trump as president of USA this Monday, with investors focused on policy announcements that could immediately affect the greenback.
Trump took office with an ambitious agenda that encompasses trade reform, crackdowns on immigrationtax cuts and a more flexible regulation of the cryptocurrencies.
The data of inflation weaker in the United States and the prospect of multiple rate cuts by the Federal Reserve (Fed) have recently boosted risk assets, including Bitcoin, which hit an all-time high of $109,071.86.
He dollar index fell 1%, its biggest drop since August. The US currency could have been prepared for a fall, judging by the positioning of hedge funds: the latest data from the Commodity Futures Trading Commission shows that funds last week maintained a net long position in dollars against to a variety of currencies worth $35 billion, the largest in nine years, Reuters reported.
The dollar had risen about 10% since September along with rising bond yields. US treasury bonds of more than 100 basis points, a tightening of financial conditions that particularly affected Asian and emerging markets. A pause or rollback should relieve that pressure.
However, trading volume was expected to be reduced because the US markets were closed for the holiday. Martin Luther King Jr. Day. Meanwhile, the executive directors of Wall Street They told investors that the incoming US administration would be pro-business and good for banks.
The post-election recovery S&P 500 has cooled to a 2.7% gain, following a sell-off in early January on inflation fears.
US stock futures are pointing to gains of around 0.4% on Wall Street on Tuesday. The asian markets were already rising on Monday, with the MSCI Asia ex-Japan and Nikkei 225 indices rising more than 1%.
During the first year of the first Trump administration, the S&P 500 rose 19.4%, following a 5% rally in its first 100 days in office. Oval Office. Throughout Trump’s first term, the S&P 500 rose almost 68%, but markets suffered bouts of volatility, stemming in part from a trade war that he freed with China.
Cryptocurrencies, on the other hand, were on the rise after the self-proclaimed “crypto president” was sworn in and BTC jumped to a new all-time high near $110,000.
Source: Ambito
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