🇧🇴 BoliviaEconomy Minister announces banks will custody crypto and offer stablecoin savings, credit cards, and loans. Reverses decade ban lifted in June 2024 amid 22% inflation and dollar shortages. Crypto transactions jumped 12x to $88M, 86% retail users. Toyota, Yamaha, BYD accept USDT for vehicles.7/8 ...

Core Insights - Consumer prices remained steady year-over-year, contrasting with a 0.1% increase recorded in October [1] Group 1 - Consumer prices showed no change compared to the previous year [1] - The previous month's data indicated a slight increase of 0.1% in consumer prices [1]

Core Viewpoint - The Australian dollar (AUD) shows a positive trend against the US dollar (USD) despite weak GDP growth data for Q3 from the Australian Bureau of Statistics [1] Economic Data Summary - Q3 GDP growth rate was 0.4%, down from 0.6% in Q2; annual GDP growth slowed from 1.8% to 2.1%, both below market expectations, leading to a brief sell-off of the AUD during Asian trading hours [1] - October's consumer price index (CPI) rose to 3.8% year-on-year, up from 3.5% in the previous month; adjusted average CPI increased from 3.2% to 3.3%, remaining above the Reserve Bank of Australia's (RBA) target range of 2%-3% [2] Central Bank and Inflation Insights - RBA Governor Michele Bullock indicated that the central bank is closely evaluating recent inflation data to assess the sustainability of price pressures, which could impact future monetary policy [2] - The statement reduced market expectations for further policy easing in the short term, providing support for the AUD [2] External Environment Impact - China's services PMI slightly decreased from 52.6 in October to 52.1 in November but remained above the expected 52.0, showing limited reaction from the AUD [3] - The USD index remains at a relatively low level, influenced by market expectations of a dovish policy from the Federal Reserve, with a 90% probability of a 25 basis point rate cut in December [3][4] Technical Analysis - The AUD/USD recently broke through a descending trendline resistance since September and is above the 100-day simple moving average, indicating positive momentum without entering overbought territory [5] - Key resistance levels are identified at 0.6535-0.6530; a breakthrough could lead to further gains towards 0.6600 and potentially challenge the yearly high around 0.6700 [7] - Important support is at the psychological level of 0.6500; a drop below this could lead to further declines towards the 200-day moving average around 0.6465 and the November low of 0.6420 [7]

Swiss inflation unexpectedly stalled in November, a setback for central bank officials https://t.co/prpsShx2Xb ...

Turkish inflation cooled more than expected, clearing a path for the central bank to deliver a more sizable rate cut next week https://t.co/qNnu7ICtNe ...

Group 1: Market Overview - European stocks are expected to open flat to slightly higher as investors await key U.S. economic data that could influence the Federal Reserve's rate decision next week [1] - Asian markets showed mixed results, with Japan and South Korea gaining while Chinese and Hong Kong markets declined due to weak services data and property stress [4] - U.S. stocks ended higher, with the Nasdaq Composite rising by 0.6%, the Dow gaining 0.4%, and the S&P 500 adding 0.3% after recovering from previous losses [7] Group 2: Economic Indicators - The ADP report on private sector employment is anticipated to show an increase of 10,000 jobs in November, following a rise of 42,000 jobs in October [1] - Reports on service sector activity, personal income and spending, and consumer sentiment are expected to attract investor attention in the coming days [2] - The delayed September Personal Consumption Expenditures (PCE) Index, the Fed's preferred inflation gauge, is due on Friday, with a hotter-than-expected reading potentially reviving concerns about elevated rates [2] Group 3: Company Performance - Marvell Technology's shares jumped over 10% after the company provided an optimistic outlook for its data [4] - American Eagle Outfitters' stock soared by 11% following strong Q3 results and an increased full-year forecast [4] Group 4: Global Economic Context - A private survey indicated that growth in China's services sector fell to a five-month low in November, contributing to bearish sentiment towards China Vanke Co., which is facing a decade-high level of bearish bets as it seeks to delay a bond repayment [5] - The dollar index decreased while gold prices increased as investors prepared for a widely expected Federal Reserve interest-rate cut next week [5]

Monetary Policy - Poland's central bank is likely to deliver its sixth interest-rate cut this year [1] - Inflation slowed more than expected, slipping below policymakers' target [1]

Core Viewpoint - The article discusses the potential of Bitcoin as a hedge against rising inflation, emphasizing its scarcity and limited supply compared to traditional fiat currencies [1][2]. Group 1: Inflation and Asset Value - Inflation is currently rising faster than desired, prompting investors to seek assets that are less susceptible to dilution, such as real estate or gold [3]. - Bitcoin is positioned as a "hard" asset with a capped supply of 21 million coins, with over 94% already mined, making it less prone to inflationary pressures [4][6]. Group 2: Supply Dynamics - Approximately 3 million to 4 million Bitcoin are considered lost, reducing the tradable supply to around 17 million to 18 million coins, which are increasingly held by long-term investors [6]. - Financial institutions and corporate entities hold over 6 million BTC, accounting for about 28% of the total supply, further tightening the available market supply [7]. Group 3: Demand and Price Movements - If inflation accelerates, increased demand for Bitcoin as a non-fiat store of value could lead to significant price increases due to the limited supply available for sale [8]. Group 4: Comparison with Other Assets - Bitcoin lacks the long historical track record of gold as a reliable store of value, which has proven its ability to preserve purchasing power over centuries [10]. - Despite its volatility, Bitcoin has shown positive returns following inflation surprises, indicating its potential as a partial hedge against inflation [11]. Group 5: Investment Strategy - Bitcoin should be viewed as one component of a diversified inflation-resistant portfolio, alongside more established assets, to mitigate risks associated with its volatility [13].

More Americans are struggling with rising inflation, and more households, particularly in the Northeast and Midwest, are living paycheck to paycheck. https://t.co/VlXKdhp5HM ...

Market Overview - U.S. equities experienced a decline on Monday due to soft manufacturing data, rising U.S. Treasury yields, and a drop in bitcoin and crypto-related stocks, but recovered somewhat as bond yields eased and bitcoin rebounded [1][6] - The Dow Jones Industrial Average rose by 185.13 points (0.39%) to 47,474.46, the S&P 500 gained 16.74 points (0.25%) to 6,829.37, and the Nasdaq Composite increased by 137.75 points (0.59%) to 23,413.67 [8][9] Sector Performance - Boeing surged by 10.1%, significantly boosting the Dow, after forecasting higher deliveries for its 737 and 787 jets next year, contributing approximately 117 points to the index [8][9] - The technology sector rose by 0.8%, driven by gains in major companies such as Apple, Nvidia, and Microsoft, each up about 1%, while Intel shares saw a notable increase [5][9] Economic Indicators - Recent data indicates a gradually cooling economy, prompting policymakers to exercise caution regarding potential rate cuts, as inflation pressures could resurface [6][9] - Market expectations for a 25 basis point rate cut at the Federal Reserve's December meeting have surged to 89.2%, up from 63% a month ago, following comments from several Fed officials [6][9] Consumer Insights - Positive consumer sentiment was noted from Black Friday and Cyber Monday data, suggesting strength in consumer spending, which is viewed favorably compared to underlying market volatility [2][3] Cryptocurrency Market - Crypto stocks saw gains, with Strategy up 5.8% and Coinbase up 1.3%, as bitcoin prices rebounded after experiencing its largest dollar loss since May 2021 [7][9] Market Dynamics - Advancing issues outnumbered decliners by a 1.01-to-1 ratio on the NYSE, while on the Nasdaq, declining issues outnumbered advancers by a 1.07-to-1 ratio [8][9] - The S&P 500 recorded 11 new 52-week highs and three new lows, while the Nasdaq Composite noted 70 new highs and 100 new lows [8][9] - Trading volume on U.S. exchanges was 15.35 billion shares, below the 18.42 billion average over the last 20 trading days [8]