Chinese Yuan Approaches 7 per Dollar Amid Dovish Fed and PBOC Support
The Chinese renminbi has reached its strongest level against the US dollar since Donald Trump's election victory, indicating significant currency market movements.
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Trump Election
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Billions Flow into High-Risk Gambling Markets
As traditional stock and corporate credit markets cool, speculative trading in leveraged exchange-traded funds (ETFs) and cryptocurrencies is surging, driven by a booming economy and post-Trump election optimism. This week, leveraged ETFs, particularly those linked to MicroStrategy and Bitcoin, saw record trading volumes, with MicroStrategy's stock surging 24% amid a $420 million inflow into related funds. Market experts warn that this rampant speculation mirrors the 2000 market peak, raising concerns about sustainability.
Russia Intensifies Aerial Assault on Ukraine Amid Escalating Conflict
Following Donald Trump's election victory, Russia has increased its drone attacks on Ukraine by 44%, using Iranian-produced Shahed drones. The escalation aligns with Russia's strategy to intensify military pressure on Ukraine before Trump's inauguration, as he has promised to end the war swiftly. Both Russia and Ukraine have been increasing their drone operations, with Russia also launching ballistic missiles. The conflict continues with heavy fighting in eastern Ukraine and other regions, as both sides prepare for potential changes in U.S. foreign policy.
Trump's Win Fuels U.S. Interest in South Korea's 4B Movement
The 4B movement, originating in South Korea as a protest against misogyny, is gaining traction in the U.S. following Donald Trump's election. The movement encourages women to avoid dating, marrying, having sex with men, and childbirth as a form of protest against perceived threats to women's rights, particularly regarding abortion. While some women find empowerment in the movement, experts caution against using it as a political protest, suggesting it may be counterproductive and self-punishing. The movement highlights a growing discourse on women's autonomy and values in relationships.
Axon Stock Skyrockets Amid Positive Outlook and Raised Price Target
Axon Enterprises, the maker of Taser stun guns and body cameras, saw its stock surge nearly 29% after reporting strong third-quarter earnings and raising its revenue guidance for the year. The company's earnings per share of $1.45 exceeded expectations, and its revenue of $544.3 million slightly surpassed forecasts. Analysts view Axon as a potential beneficiary of Donald Trump's recent election win, anticipating continued funding for law enforcement. Several analysts raised their price targets for Axon stock, which has more than doubled in value this year.
Trump's Presidency Keeps Mortgage Rates Elevated Despite Fed Cuts
Despite recent Federal Reserve interest rate cuts, mortgage rates have surged following Donald Trump's election win, reaching 6.98%. This increase is driven by rising 10-year Treasury bond yields, which reflect expectations of stronger economic growth and higher inflation. Market forecasts suggest mortgage rates will remain elevated around 6% into 2025, influenced by potential deficit spending and tariffs under Trump's administration.
Asia Stocks Steady Amid Cooling Trump Rally and Focus on Fed, China Stimulus
Asian stocks traded flat-to-low as the initial rally from Donald Trump's 2024 U.S. election victory cooled, with attention shifting to potential Chinese stimulus measures and an upcoming Federal Reserve meeting. Chinese stocks showed resilience despite potential trade tariffs, while Japanese stocks were buoyed by a weaker yen. The focus remains on China's National People's Congress for fiscal stimulus cues, and the Fed's meeting for interest rate guidance.