Greenback Eases Ahead of Trump’s Executive Actions, Bitcoin Takes Leads and Hits New Record

Economic

Summary:

Dollar is trading slightly lower today as markets await Donald Trump’s inauguration as the 47th US President. Attention is focused on his inaugural speech, expected to confirm his policy priorities. However, the real market-moving event is likely to be the series of executive actions Trump has promised to enact immediately.

Over 200 directives are anticipated, including legally binding executive orders and proclamations, with particular interest in measures affecting tariffs and deregulations in sectors like energy and cryptocurrencies.

One key area of focus is Trump’s potential tariff policies, which would surely reshape US trade relationships with allies and adversaries and impact global market. Deregulation efforts, spanning traditional energy sectors to the fast-growing cryptocurrency industry, are also expected to influence investor sentiment.

Meanwhile, Bitcoin has reached a new all-time high, reflecting the renewed bullish sentiment in cryptocurrencies. Technically, next near term target is 61.8% projection of 49008 to 108368 from 89127 at 125812. Outlook will stay bullish as long as 89127 support holds, even in case of pull back. Greenback Eases Ahead of Trump’s Executive Actions, Bitcoin Takes Leads and Hits New Record_1

Greenback Eases Ahead of Trump’s Executive Actions, Bitcoin Takes Leads and Hits New Record_1

While Trump’s inauguration and executive actions are dominating headlines, global markets are also preparing for several other key events. BoJ is widely expected to raise its policy rate. UK employment data will provide insight into the labor market’s response to the Autumn Budget. Inflation data from Canada and New Zealand will help shape monetary policy projections of BoC and RBNZ. PMI data from major economies will round out the week’s events.

ECB’s Holzmann: January rate cut not as certain with elevated inflation risks

Austrian ECB Governing Council member Robert Holzmann expressed skepticism over a potential rate cut at ECB’s upcoming January meeting. In an interview with Politico, Holzmann stated, “A cut is not a foregone conclusion for me at all,” emphasizing his commitment to approaching the discussion with an “open mind.”

Holzmann highlighted that ECB decisions are fundamentally data-driven and noted that inflation remained “well above” 2% in December, with January figures expected to reflect similar levels. He cautioned that “cutting interest rates when inflation rises faster than anticipated, even temporarily, risks hurting credibility.”

As a known policy hawk, Holzmann also revealed increased doubts about inflation settling around ECB’s 2% target by the end of the year. He cited unexpected developments since the December decision, including faster-than-expected depletion of gas reserves due to colder weather, the effective closure of the Ukraine gas transit, and the risks of persistently high energy prices.

China maintains LPR as offshore Yuan recovers ahead of key support

China’s central bank maintained its benchmark lending rates unchanged on Monday. The one-year loan prime rate was steady at 3.1%, while the over-five-year LPR, which influences mortgage rates, remained at 3.6%.

The offshore Yuan strengthened notably against the Dollar, continuing to draw support from a a key long-term level. This comes despite market speculation that China might allow Yuan to weaken further to counteract the economic effects of new tariffs introduced under Donald Trump’s presidency.

A weaker currency would bolster export competitiveness by making Chinese goods more affordable internationally. However, Beijing faces a dilemma: while a controlled depreciation could help exporters, an uncontrolled fall could lead to heightened volatility in domestic financial markets and reduced investor confidence.

Acknowledging these risks, PBOC Governor Pan Gongsheng reaffirmed the central bank’s commitment to exchange rate stability last week, stating, “We will resolutely prevent the risk of the exchange rate overshooting, ensuring that the Yuan exchange rate remains generally stable at a reasonable, balanced level.”

Technically, a short term top should be confirmed at 7.3694 in USD/CNH with today’s dip. But it’s early to call for bearish reversal as long as 55 D EMA (now at 7.2797) hits. Further rally remains in favor through 7.3745 (202 high) to resume the long term up trend.

Nevertheless, firm break of 55 D EMA should bring deeper pull back to 38.2% retracement of 6.9709 to 7.3694 at 7.2172, which is close to 55 W EMA (now at 7.2097) even just as a correction to rise from 6.9709. Greenback Eases Ahead of Trump’s Executive Actions, Bitcoin Takes Leads and Hits New Record_2

Greenback Eases Ahead of Trump’s Executive Actions, Bitcoin Takes Leads and Hits New Record_2

From BoJ to inflation data and PMIs, global markets have more to focus on than Trump

While the inauguration of Donald Trump dominates the headlines in US markets, global investors are turning their attention to a week packed with pivotal high-impact economic events that would provide crucial clues about the monetary policy paths of key economies.

BoJ’s upcoming meeting is a top priority for global markets. After repeated signals from Governor Kazuo Ueda and other top officials, markets should be well-prepared for a 25bps rate hike, raising the policy rate to 0.50%. However, beyond the rate decision, the focus will shift to BoJ’s updated economic projections and policy guidance.

While Ueda is expected to remain cautious about committing to a specific timeline for normalization, he may strike a more optimistic tone regarding wage growth, based on reports from branch managers. Additionally, BoJ could raise inflation forecasts in its quarterly outlook, both of which would add hawkish tones to the meeting.

In the UK, attention is squarely on employment data, which will shed light on the labor market’s response to the government’s Autumn Budget. The markets are already pricing in over 75 basis points of BoE rate cuts in 2025. Meanwhile, IMF is projecting an even deeper 100bps reduction. The strength of the labor market will play a pivotal role in determining the scale of monetary easing this year, making this release a key driver for Sterling sentiment.

Inflation data from Canada and New Zealand also hold significant importance. In Canada, BoC has indicated that the pace of rate reductions will slow, but uncertainty remains over the timing of pauses. A Reuters poll suggests an 80% chance of a 25bps cut on January 29, following December’s larger 50-bps move. CPI data will either reinforce or challenge this expectation.

Meanwhile, New Zealand’s Q4 inflation report is expected to show further easing in price pressures, consistent with RBNZ’s forecasts. If the trend persists, RBNZ could deliver another 50bs rate cut at its February meeting

Other data to watch this week include Germany’s ZEW Economic Sentiment Index and PMI reports from several major economies. These releases will provide additional context on global economic momentum and inform central bank decisions in the months ahead.

Here are some highlights for the week:

Monday: Japan machine orders, tertiary industry index; Germany PPI; Swiss PPI; BoC business outlook survey.Tuesday: New Zealand BNZ services; UK employment; Germany ZEW economic sentiment; Canada CPI.Wednesday: New Zealand CPI; UK public sector net borrowing: Canada IPPI and RMPI.Thursday: Japan trade balance; Canada retail sales; US jobless claims.Friday: Australia PMIs; Japan CPI, PMIs, BoJ rate decision; Eurozone PMIs; UK PMIs; Canada new housing price index; US PMIs, US existing sales.

EUR/USD Daily Outlook

Daily Pivots: (S1) 1.0247; (P) 1.0289; (R1) 1.0313;

EUR/USD recovers mildly today but stays in the middle of near term range above 1.0176. Intraday bias stays neutral and outlook remains bearish with 1.0435 resistance intact. On the downside, break of 1.0176 will resume the fall from 1.1213 and target 61.8% projection of 1.1213 to 1.0330 from 1.0629 at 1.0083. However, firm break of 1.0435 will confirm short term bottoming, and turn bias back to the upside for stronger rebound. Greenback Eases Ahead of Trump’s Executive Actions, Bitcoin Takes Leads and Hits New Record_4

Greenback Eases Ahead of Trump’s Executive Actions, Bitcoin Takes Leads and Hits New Record_4

In the bigger picture, fall from 1.1274 (2023 high) should either be the second leg of the corrective pattern from 0.9534 (2022 low), or another down leg of the long term down trend. In both cases, sustained break of 61.8 retracement of 0.9534 to 1.1274 at 1.0199 will pave the way back to 0.9534. For now, outlook will stay bearish as long as 1.0629 resistance holds, even in case of strong rebound.

Source:action forex

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Warren Takunda

Stocks

Global markets faced a rollercoaster of volatility as major asset classes swung sharply during Donald Trump’s first day in office. Investor sentiment was dominated by the US President's potential implementation of the tariff pledges made during his campaign.

On Monday, European stock markets closed broadly higher after Trump's team signalled that the initial executive orders might exclude tariffs on goods from China, Canada, and Mexico. US stock markets were closed for a public holiday, but the three main futures indices all posted gains. The US dollar sharply retreated, pushing the euro to a two-week high above 1.04. Bitcoin briefly surged to a new record high of over $109,000 before retreating, while gold prices climbed higher and oil declined.

However, nearly all trends reversed during Tuesday's Asian session. President Trump announced plans to impose previously pledged tariffs of 25% on imports from Canada and Mexico starting on 1 February. The announcement sent shockwaves through the markets, with the greenback regaining strength and pressuring other currencies, including the euro. US equity futures declined, setting the stage for potential spillovers into European markets.

Prevailing Risk-Aversion Sentiment

Investors are increasingly turning to safe-haven assets to hedge against uncertainty, as sentiment appears highly sensitive to Trump’s policy shifts. “The fact we’ve seen such positive reactions to signals of a more deliberative approach to tariffs shows how concerned the markets are about the impact of trade wars. Further, the volatility seen today shows that sentiment can change in an instant,” said Kyle Rodda, a senior financial market analyst at Compital.com.

Early on Tuesday in the Asian session, traditional safe-haven assets such as gold and the Japanese yen surged. At 4:25 a.m. European Central Time (ECT), spot gold prices rose 0.72% to $2,725 per ounce, the highest level since election day on 5 November. The USD/JPY pair fell below 155 for the first time since 19 December. Meanwhile, the euro pared some of its earlier gains against the dollar, retreating to just below 1.04.

However, the greenback may maintain its strength as a haven asset. "For the dollar, uncertainties surrounding tariff policies and potential trade frictions are likely to bolster its safe-haven appeal", Dilin Wu, a research strategist wrote in an email to Euronews. "Gold continues to benefit from safe-haven demand, maintaining its upward trajectory", she added.

Bitcoin Retreats from a New High

Bitcoin reached a new record high of over $109,000 following Trump’s inauguration on Monday, surpassing its previous peak of $108,300. However, the surge was short-lived due to a lack of clarity on cryptocurrency policy from the new administration. By 4:50 a.m. ECT, Bitcoin had rebounded from a session low near $100,000 to approximately $103,000. "Until regulatory policies and supportive measures become clearer, Bitcoin traders may remain on the sidelines", said Wu.

Previously, President Trump had announced plans to establish a US Bitcoin Reserve and ease industrial regulations. Over the weekend, both Trump and his wife unveiled their own meme coins – Official Trump and Melania Meme – on the Solana blockchain. Solana and the meme coins rallied before pulling back on Saturday. Despite the volatility, crypto enthusiasts remain optimistic that Trump will introduce pro-crypto policies within his first 100 days in office.

Crude Oil Under Pressure

Crude oil prices fell for a third consecutive trading day on Monday as Trump declared his intention to "declare a national energy emergency" to ramp up US production and reverse climate-focused policies implemented during the Biden administration. "We will be a rich nation again, and it is that liquid gold under our feet that will help us to do it", Trump stated.

Oil prices saw a modest rebound in the Asian session, with WTI futures rising 0.65% to $76.89 per barrel and Brent futures climbing to $80.20 per barrel.

The oil market had surged to a six-month high last week, supported by additional sanctions on Russian exports imposed by the Biden administration and stronger-than-expected economic data from China.

However, the outlook for oil prices remains uncertain as Trump has pledged to end the war between Ukraine and Russia. His approach could involve either tightening sanctions on Russia or relaxing restrictions to facilitate negotiations, each of which could have adverse impact on crude prices.

Source: Euronews

Risk Warnings and Disclaimers

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Owen Li

Economic

On Monday, January 21, President-elect Donald Trump continued his pro-crypto agenda, naming Commissioner Mark Uyeda as acting SEC Chair. Acting Chair Uyeda takes over from former Chair Gensler and will lead the agency during Paul Atkins’ confirmation process. The announcement could be a pivotal moment for Ripple and XRP.

Trump could choose from Republican Commissioners Uyeda or Hester Peirce, known for their crypto-friendly stances. Trump’s selection of Atkins as Chair solidifies a pro-crypto agenda for the Republican-led SEC.

Acting Chair Uyeda was under consideration for the agency’s top position before Trump nominated former Commissioner Paul Atkins as Chair. There could be a significant shift in the SEC’s enforcement policies from day one.

In November, Acting chair Uyeda shared his views on the SEC’s regulation through enforcement policy, saying,“The Commission’s war on crypto must end, including crypto enforcement actions solely based on a failure to register with no allegation of fraud or harm. President Trump and the American electorate have sent a clear message. Starting in 2025, the SEC’s role is to carry out that mandate.”

Acting Chair Uyeda could kick start the SEC’s change in crypto strategy as early as Thursday, January 23, at the SEC’s next Closed Meeting. The Ripple case will likely be among the enforcement actions that are up for review.

Acting Chair Uyeda and SEC Commissioner Peirce must decide whether to withdraw or pause the Ripple case. Last week, there were reports that the acting SEC Chair may review and request stays or end non-fraud-related crypto cases.

SEC vs. Ripple Case: No Fraud or Recklessness

The Ripple case meets the criteria of a non-fraud case. In August 2024, Judge Torres delivered the Final Judgment and a blow to the SEC. Notably, Judge Torres denied the SEC’s request for disgorgement and prejudgment interest in excess of $1 billion.

Judge Torres imposed a $125 million penalty for illegally selling XRP to institutional investors, well below the SEC’s claim for $876 million Importantly, Judge Torres based the penalty on a tier-one civil violation of the US Securities Act, with no allegations of fraud or recklessness.

The SEC vs. Ripple case is likely the highest profile case and in President Trump’s sights. Former SEC Chair Gary Gensler filed an appeal-related opening brief on January 15, challenging the Programmatic Sales of XRP ruling. Pausing the case may align with Trump’s pro-crypto stance, but pursuing the appeal risks contradicting this narrative.

XRP Price Trends Amid Legal Uncertainty

On Monday, January 20, XRP rallied 4.95%, partially reversing Sunday’s 9.55% tumble to close at $3.1013. The token outperformed the broader crypto market, which advanced by 1.06%, taking the total market cap to $3.46 trillion.

Near-term trends remain hinged on the SEC’s appeal strategy. If the agency pauses or withdraws its appeal in the Ripple case, XRP could break above its all-time high of $3.5505. Conversely, XRP could drop below $2.5 if the SEC pursues its appeal, challenging the Programmatic Sales ruling. Will Acting Sec Chair Uyeda End Ripple Case? BTC Falls Back to $102K_1

Will Acting Sec Chair Uyeda End Ripple Case? BTC Falls Back to $102K_1

Explore our expert analysis here on the SEC’s next move and its implications for XRP’s future.

Bitcoin Sees Volatility as Trump’s Crypto Stance Unfolds

Meanwhile, bitcoin enjoyed a pre-Trump inauguration rally on speculation of pro-crypto executive orders.

However, BTC gave up early gains as President Trump’s America First Priorities skipped crypto altogether. Markets had hoped for an executive order classifying BTC as a US Strategic Bitcoin Reserve.

In January, Anthony Scaramucci said the incoming Trump administration could acquire 500,000 BTC, stating the Senate Banking Committee Chair, Tim Scott, and Treasury Secretary Scott Bessent advocate an SBR.

Trump’s crypto silence weighed market expectations of a US SBR. According to Polymarket, bets on President Trump creating a BTC reserve within the first 100 days tumbled 20% on Monday to 39%. On November 7, 60% of betters had expected President Trump to create a BTC reserve in his first 100 days.

There was also speculation President Trump would repeal Joe Biden’s veto President Biden’s veto of the bipartisan vote to withdraw the SEC’s Staff Accounting Bulletin 121.

SAB 121 is an SEC requirement for companies, including banks, to hold crypto assets on their balance sheets even if they hold the cryptos under customer custody. This regulation increases the cost for banks to hold crypto for clients. Consequently, it limits the availability of crypto services. A repeal could also boost BTC-related banking services and demand.

Markets Remain Hopeful for an SBR

Despite Trump’s lack of crypto attention, markets remain optimistic about a US SBR. Senator Cynthia Lummis continues advocating for an SBR. Notably, the Senator introduced the Bitcoin Act in December. The bill proposes the US government accumulate one million BTC (5% of the total supply) over five years, with a minimum mandatory holding period of 20 years.

A bipartisan vote in favor of an SBR would tilt BTC’s supply-demand balance heavily in its favor. Amicus Curiae attorney John E. Deaton recently speculated that BTC could climb to $1 million if the US government passes the Bitcoin Act, attributing his projection to a “Nation State FOMO.”

Bitcoin Price Outlook

On Monday, January 20, BTC gained 0.96%, partially reversing Sunday’s 2.07% loss to close at $102,408. Significantly, BTC climbed to a record high of $109,350 before retreating.

BTC’s price trends hinge on Trump’s executive orders and plans for an SBR.

Repealing the SAB 121 veto, US BTC-spot ETF inflows and positive US SBR developments could push BTC beyond Monday’s record high of $109,350. Conversely, falling bets on an SBR and BTC-spot ETF outflows could drag BTC toward $95k.

Following Trump’s inauguration, crypto-related executive orders could be crucial for BTC and the broader market. Will Acting Sec Chair Uyeda End Ripple Case? BTC Falls Back to $102K_2

Will Acting Sec Chair Uyeda End Ripple Case? BTC Falls Back to $102K_2

Market Outlook

XRP and BTC face critical junctures as legal and regulatory developments unfold. XRP’s trajectory hinges on Uyeda’s SEC strategy, while Bitcoin’s outlook depends on Trump’s crypto policies. Broader regulatory shifts could further influence market sentiment in the coming weeks.

Stay updated with our expert analysis of these developments and their implications for crypto markets. Read more here.

Source:Fxempire

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Risk Warnings and Disclaimers

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Cohen

Economic

Among the 10 member countries, four (Malaysia, Singapore, Brunei and the Philippines) have fully adopted GMT+8 — aligned with China, Hong Kong, Taiwan, Macau and western Australia, according to the chairman of the local stock exchange.

Another four countries, namely Thailand, Cambodia, Laos and Vietnam are currently on GMT+7, while Myanmar uses GMT+6.30. Indonesia, on the other hand, utilises multiple time zones, with central Indonesia using GMT+8, western Indonesia (including Jakarta) GMT+8 and east Indonesia GMT+9.

“My only wish is to see most of Asean adopting a common time zone of GMT+8 sometime in the near future,” Abdul Wahid said in his keynote speech at 2025 Malaysia Economic and Strategic Outlook Forum (Mesof) here on Tuesday.

“I believe such a move will further integrate Asean as a compelling economic bloc,” he added.

Malaysia Institute of Economic Research (MIER) executive director Dr Anthony Dass said that a unified time zone among Asean countries would serve as foundation for a singular voice within the regional coalition.

“When you have a common time — that is the regional coalition. So you start with this simple thing [same time zone] — and when we [Asean countries] get in, start negotiating, we become very strong, a single voice,” Dass said at the forum.

This year, Malaysia assumes the Asean chairmanship with the theme “Inclusivity and Sustainability”, marking the fifth time it has done so, having previously been chair in 1977, 1997, 2005, and 2015.

Source：theedgemalaysia

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Michelle

Forex

Economic

Statistics Canada is set to release its latest inflation report for December, based on the Consumer Price Index (CPI), this Tuesday. Early forecasts suggest headline inflation may have risen by 1.8% compared to the same month of the previous year.

In addition to the headline figures, the Bank of Canada (BoC) will publish its core CPI data, which excludes more unpredictable items like food and energy. For context, November’s core CPI showed a 0.1% contraction compared to the previous month but showed a 1.6% increase from a year earlier. Meanwhile, headline inflation for November rose just 1.9% annually and actually came in flat on a monthly basis.

These inflation numbers are under a microscope, particularly because of their potential impact on the Canadian Dollar (CAD). The BoC’s approach to interest rates plays a critical role here. The central bank has already reduced its policy rate by 175 basis points since it began easing in June 2024, bringing it down to 3.25% on December 11.

On the currency front, the CAD has faced significant challenges, losing value steadily. This has pushed the USD/CAD exchange rate to its highest levels since May 2020, breaching the 1.4400 mark. Markets will be paying close attention to Tuesday’s data to gauge what might come next for the Canadian economy and its currency.

What can we expect from Canada’s inflation rate?

The Bank of Canada’s decision to cut rates by 50 basis points on December 11 to 3.25% was a close call, according to the meeting Minutes published on December 23. Some council members favoured a smaller 25 basis point reduction, leading to significant debate. Governor Tiff Macklem signalled that future cuts would likely be more gradual, marking a shift from earlier messaging about the need for steady easing. Proponents of the larger cut cited concerns about weaker growth and downside inflation risks, though not all recent data supported such an aggressive move. The decision highlights the central bank’s careful navigation of economic uncertainties.

Previewing the data release, analysts at TD Securities note: “We look for CPI to edge higher to 2.0% YoY as prices fall by 0.2% MoM. Seasonal headwinds to core goods will weigh heavily on a MoM basis, while food prices and a softer Loonie provide a source of strength. Core inflation should slow by 0.2pp to 2.45% YoY on average as CPI-trim/median overshoot BoC projections for Q4, but we expect the BoC to look through this in January.”

When is the Canada CPI data due, and how could it affect USD/CAD?

Canada's inflation report for December is set to be released on Tuesday at 13:30 GMT, but the Canadian Dollar's reaction will likely depend on whether the data delivers any major surprises. If the figures align with expectations, they are unlikely to influence the Bank of Canada’s current rate outlook.

Meanwhile, USD/CAD has been navigating a consolidative range since mid-December, reaching multi-year highs just beyond the 1.4500 hurdle. This rise has been primarily driven by a robust rebound in the US Dollar (USD), largely attributed to the so-called “Trump trade,” which continues to exert significant pressure on risk-sensitive currencies like the Canadian Dollar.

Pablo Piovano, Senior Analyst at FXStreet, suggests that given the current scenario of persistent gains in the Greenback and heightened volatility in crude oil prices, further weakness in the Canadian Dollar should remain in the pipeline for the time being.

“Bullish attempts should lead USD/CAD to another potential visit to the 2024 peak of 1.4485 (January 20), ahead of the highest level reached in 2020 at 1.4667 (March 19),” Piovano adds.

On the downside, there is an initial support zone at the 2025 low of 1.4278 (January 6), prior to the provisional 55-day SMA at 1.4177 and the psychological 1.4000 threshold. Down from here comes the November low of 1.3823 (November 6), closely followed by the more significant 200-day SMA at 1.3816. Should USD/CAD break below this level, it could trigger additional selling pressure, initially targeting the September low of 1.3418 (September 25), Piovano notes.

Source: FXSTREET

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Warren Takunda

Stocks

Global shares were mixed in a muted reaction Tuesday to the inauguration of U.S. President Donald Trump.

France’s CAC 40 gained 0.1% to 7,739.02, while Germany’s DAX was flat at 20,988.89. Britain’s FTSE 100 gained 0.1% to 8,533.10.

The future for the S&P 500 was up 0.3% and that for the Dow Jones Industrial Average gained 0.4%. U.S. markets were closed Monday for the Martin Luther King Jr. Day holiday.

Some analysts said the inauguration would inject optimism into global markets, while others said the threat of higher tariffs might hurt sentiment.

Trump’s release of an “America First Trade Policy” memo after he took office Monday indicated he would take no immediate action on raising tariffs, possibly alleviating immediate concerns about threats of double-digit tariffs on all imports. However the plan calls for a broad reassessment and overhaul of U.S. trade policy.

Advertisement“In a twist that calmed nerves across global markets ... President Trump revealed he would not, contrary to expectations, roll out new tariffs immediately,” said Stephen Innes, managing partner at SPI Asset Management.

Related StoriesUS rejection of Nippon Steel's bid for US Steel rankles Washington's key ally in AsiaUS rejection of Nippon Steel's bid for US Steel rankles Washington's key ally in AsiaTrudeau says Americans are realizing Trump's tariffs on Canada would make life a lot more expensiveTrudeau says Americans are realizing Trump's tariffs on Canada would make life a lot more expensiveStock market today: Asian shares are mostly lower, with most world markets closed for ChristmasStock market today: Asian shares are mostly lower, with most world markets closed for ChristmasWorries about the effects of Trump’s policies on China have eased somewhat as both sides have pledged to work to improve relations.

Hong Kong’s Hang Seng index rose 0.9% to 20,106.55, in part lifted by embattled Chinese property developer Country Garden, whose shares jumped 17.5% after it got a reprieve on its deadline for working out an agreement with its creditors.

The Shanghai Composite index edged 0.1% lower to 3,242.62.

Tokyo’s Nikkei 225 index gained 0.3% to finish at 39,027.98, while Australia’s S&P/ASX 200 gained 0.7% to 8,402.40. South Korea’s Kospi slipped less than 0.1% to 2,518.03.

Shares in Fuji Media Holdings, of which major Japanese broadcaster Fuji TV is a part, recouped earlier losses, to finish 2.1% higher. The earlier decline came after dozens of companies, including Toyota Motor Corp., decided to stop airing television commercials that accompany Fuji TV shows. The stock price has zigzagged recently as a sex scandal unfolded, reported by weekly magazine Shukan Bunshun.

In energy trading, benchmark U.S. crude declined 97 cents to $76.42 a barrel. Brent crude, the international standard, lost 32 cents to $79.84 a barrel.

In currency trading, the dollar was unchanged at 155.64 Japanese yen. The euro cost $1.0362, down from $1.0416.

Source: AP

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Cohen

Cryptocurrency

Bitcoin held a retreat from a record as traders awaited crypto policy directives from US President Donald Trump following his inauguration.

The market was expecting an executive order in support of the digital-asset sector but it didn’t appear in Trump’s blitz of actions on his first day in office. He focused instead on topics such as immigration, trade, energy and TikTok.

The original cryptocurrency changed hands at about US$102,400 (RM458,598) as of 12.31pm on Tuesday in Singapore. The token hit a peak of US$109,241 ahead of Trump’s swearing in before falling back. Most other digital assets also wavered.

“It’s premature to draw strong conclusions from the absence of an immediate executive order” given that the Trump administration has a range of priorities, said Richard Galvin, a co-founder of hedge fund DACM. “Markets have shown resilience, suggesting investors are taking a similar, longer-term view.”

Trump tokens

Before the inauguration, Trump and his wife Melania unveiled memecoins that whipsawed the market by diverting flows. Investors later embraced the notion that the move further incentivizes Trump to embrace crypto-friendly policies.

Crypto Market In Limbo as Trump Omits Sector from Day One Orders_1

Bloomberg News previously reported that Trump is considering an executive order designating the asset class a “national priority”. Trump became an ardent supporter of the digital-assets industry on the campaign trail, after once having branded bitcoin a scam. He pledged to make the US the world’s crypto capital and backed the idea of creating a strategic bitcoin stockpile.

While it’s a surprise that Trump didn’t issue an executive order “praising” crypto, “one should be forthcoming” though it may not be “substantive,” TD Cowen analyst Jaret Seiberg wrote in a note.

The Trump memecoin traded at about US$34, according to figures from CoinMarketCap. It hit an overall market value of more than US$15 billion on Sunday but slid below US$7 billion on Tuesday.

Memecoin criticism

The Trump and Melania memecoins drew criticism from some industry executives, partly over the worry that they risk making crypto look frivolous.

Others took a different view. Ben El-Baz, the managing director of HashKey Global, said the tokens debuted by the Republican and his team have further accelerated bitcoin’s momentum, as retail traders look for his administration to “prioritize and reaffirm his commitment to the crypto industry”.

Memecoins are a kind of cryptocurrency with questionable intrinsic value and high volatility. They rely on social media tailwinds to drive up their price and can slide as quickly as they climb.

An 80% share of the Trump token is owned by a Trump Organization affiliate called CIC Digital LLC, and a related entity called Fight Fight Fight LLC — whose name echoes the words Trump mouthed after a bullet grazed his ear during the campaign trail. Their holdings will be unlocked over a three-year period.

Possible ‘longevity’

According to the website, 200 million of the tokens immediately became available, a supply that will grow to one billion over three years. The small print on the website states the token isn’t intended to be an “investment opportunity, investment contract, or security of any type”.

To Gautam Chhugani of Bernstein, a memecoin “capitalising on Trump’s brand and politics, has potential longevity”. And while some may “cringe”, he added that this marks the start of a “new crypto regulatory era”.

Bitcoin has jumped about 50% since Trump’s US election victory in early November, raising the question of whether the rally is due a breather if the anticipated presidential action fails to excite speculators.

Source: Theedgemarkets

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Greenback Eases Ahead of Trump’s Executive Actions, Bitcoin Takes Leads and Hits New Record

ECB’s Holzmann: January rate cut not as certain with elevated inflation risks

China maintains LPR as offshore Yuan recovers ahead of key support

From BoJ to inflation data and PMIs, global markets have more to focus on than Trump

EUR/USD Daily Outlook

Source:action forex

Markets Ride a Rollercoaster as Trump Returns to US Presidency

Prevailing Risk-Aversion Sentiment

Bitcoin Retreats from a New High

Crude Oil Under Pressure

Source: Euronews

Will Acting Sec Chair Uyeda End Ripple Case? BTC Falls Back to $102K

SEC vs. Ripple Case: No Fraud or Recklessness

XRP Price Trends Amid Legal Uncertainty

Bitcoin Sees Volatility as Trump’s Crypto Stance Unfolds

Markets Remain Hopeful for an SBR

Bitcoin Price Outlook

Market Outlook

Source:Fxempire

Bursa Chairman Calls for Asean Countries to Adopt GMT+8 Time Zone

Source：theedgemalaysia

Canada CPI Set to Show Inflation Ticked Down Mildly in December, Remains Below Boc 2% Target

What can we expect from Canada’s inflation rate?

When is the Canada CPI data due, and how could it affect USD/CAD?

Source: FXSTREET

Stock Market Today: Global Shares Trade Mixed in a Muted Reaction to the U.S. Inauguration

Source: AP

Crypto Market In Limbo as Trump Omits Sector from Day One Orders

Trump tokens

Memecoin criticism

Possible ‘longevity’

Source: Theedgemarkets

Risk Disclosure