Financial News

The BTC-spot ETF market remained the focal point this week. However, Ripple, the SEC, and Senator Warren also grabbed the crypto market headlines.

Year-ahead inflation expectations declined from 3.1% in December to 2.9% in January.

January’s economy adds 353,000 jobs, unemployment steady at 3.7%, with a 0.6% hike in average hourly earnings showcasing resilience.

Binance CEO Richard Teng announced that the exchange has frozen accounts with Ripple (XRP) coins worth $4.2 million of funds stolen in a recent hack.

Apple’s Q1 sees revenue and EPS exceed estimates, iPhone sales rise, and growth despite global pressures and China challenges.

The report indicated that economic activity in the manufacturing sector contracted for the 15th consecutive month.

The Bank of England held interest rates steady, targeting sustainable 2% inflation amid global uncertainty and persistent 4% UK inflation.

The China Caixin Manufacturing PMI sent mixed signals. Weakening domestic demand and factory gate price pressures remain a concern.

Fed noted that it was not appropriate to cut rates until it had confidence that inflation was moving towards its 2% target.

According to ADP, January’s private sector added only 107,000 jobs with a modest 5.2% wage increase for job-stayers.

German retail sales sent more recessionary signals on Wednesday. Significantly, the unexpected fall could impact the Eurozone economy.

Microsoft’s Q2 earnings hit $2.93/share, beating $2.78 estimates with Azure’s 30% revenue surge, showcasing its cloud sector dominance.

CB Consumer Confidence reached two-year highs amid declining pessimism about future.

Dallas Fed Manufacturing Index has been in the negative territory since 2022.

Central banks take center stage, with investors awaiting clues from the Bank of England and the Fed on the timing of their first rate cuts.

Grayscale Bitcoin Trust (BTC) outflows slowed on Wednesday and Thursday, supporting a BTC return to $42,000 and cryptos amidst US lawmaker scrutiny.

The National Association of Realtors expects that existing home sales would grow by 13% in 2024.

December’s 0.3% income rise, 0.7% spending surge, and stable 0.2% Core PCE rise signal robust economic growth and confidence.

An Industry report shows how the Stock market crash and Evergrande housing crisis triggered increased cryptocurrency and Bitcoin trading within China.

German consumer income expectations and plans to purchase large items slumped as consumers reacted to the German inflation numbers for December.