Bitcoin smashing the $100,000 barrier raises the prospect of the cryptocurrency going mainstream, U.S. inflation data will show how much pressure there is on the Fed to adjust rates and central banks in Europe, Australia and Brazil meet.Since then, Donald Trump’s U.S. election win means the euro area faces renewed economic pain with likely tariffs, and governments in heavyweight Germany and France have collapsed, with the latter engulfed in its second political crisis in six months.
The chances of a quarter-point reduction are below 15% and rates are expected to take until July to fall even 50 bps. But the path ahead is less clear. The economy has proved stronger than expected, and Fed Chair Jerome Powell has said there is little reason to hurry the pace of cuts. Recall though that its history is written in breathless rallies and white-knuckle reversals. While numbers like $150,000 are already being mentioned for 2025, the token is flashing overbought on daily, weekly, monthly and quarterly charts.Brazil’s central bank holds its final meeting under Governor Roberto Campos Neto on Wednesday, with bets on a sharper 75 bps hike after two raises that brought rates to 11.25%.
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