Latest news with #financialMarket
Bloomberg
11 hours ago
- Business
- Bloomberg
Hong Kong Dollar Drops to Weak End of Its Fixed Trading Range
The Hong Kong dollar dropped to the weak end of its fixed trading range against the greenback, as cheap funding costs encouraged investors to borrow it and buy the US currency. The city's dollar weakened to trade briefly at 7.85 against its US equivalent on Friday, for the first time since 2023, according to traders familiar with the transactions who asked not to be identified because they weren't authorized to speak publicly. It has tumbled over 1% from an early May high when it touched the strong end of its 7.75-to-7.85 permitted range against the US dollar.
Bloomberg
a day ago
- Business
- Bloomberg
Philippines Cuts Key Rate Again as Inflation Stays Below Target
The Philippine central bank lowered its key interest rate by a quarter point for the second time this year as widely expected, after inflation remained below target. The Bangko Sentral ng Pilipinas reduced its overnight target reverse repurchase rate to 5.25% on Thursday, matching the forecast by 29 of 30 economists in a Bloomberg survey. One saw a hold.
Yahoo
4 days ago
- Business
- Yahoo
Home on the (BTC) Range
Hi. I'm Andy Baehr with the CoinDesk Indices team. Question: Bitcoin is stuck in a range. Is that a bad thing or a good thing? Even casual BTC watchers will have noted the ten percent channel that has held for more than a month. As of today, in fact, it has been 40 days since we entered the ~$101K - ~$111K range, with no catalyst forcing a breakout through either boundary. Good or bad thing? The macro muddle supports range-trading. Our anchor bitcoin macro factor remains expectations for future real interest rates--nominal rates minus inflation. Recent cross-currents create an unclear picture: inflation expectations from surveys have been elevated (though recent releases seem less concerning), while hopes for Fed relief were dim until the market began pricing in two 2025 cuts more assertively. Too muddled for a breakout. Bitcoin is doing what it should. For the store-of-value thesis, range-trading is actually fine. As bitcoin accumulates more days of "not unexpected" behavior, it supports the narrative of relative independence from other risk assets and improved stability. (The S&P 500 has also kept an 8% range through the same 39 days, so bitcoin isn't alone in this holding pattern, although recent news flows might have knocked a younger bitcoin off the track.) But traders are getting restless. Bitcoin's basement-level thirty-day realized volatility below 30% crimps opportunity. Implied vols are also down as option buyers grow fatigued and sellers grab yield more confidently. Like any market, a range that holds too long creates complacency—making the eventual exit more "exciting" than it would otherwise be. The stalled mood is hurting breadth. Without bitcoin providing leadership, other digital assets are wilting. The CoinDesk 20 Index has trailed bitcoin by about 5% over the past month, as the lack of sentiment has stalled the late-April rally, even in ETH, which had bounced strongly. How does this compare historically? With some truly unattractive vibe coding (I take the blame), we studied bitcoin's longest streaks of holding 10% ranges. The current 40-day stretch isn't the longest—that was 42 days—but it's close. Similar streaks occurred in 2018, 2020, and 2023. Given bitcoin's evolved ownership structure (ETFs, MSTR) and more accessible spot and derivatives markets, would a 50-day streak surprise anyone? Not sure.
Bloomberg
4 days ago
- Business
- Bloomberg
India RBI Seeks Market View on Borrowing Costs Post Debt Selloff
India's central bank has informally contacted some bond traders to gauge what level of short-term borrowing costs would be comfortable to the market, according to people familiar with the matter, following a selloff sparked by concerns of liquidity withdrawal. Officials at the Reserve Bank of India reached out to traders at some banks in recent days asking for feedback on the cost of overnight borrowing — known as the weighted average call rate, the people said, asking not be identified discussing private matters. The general feedback was that any moves should not be overly disruptive to liquidity, the people said.
Bloomberg
11-06-2025
- Business
- Bloomberg
Dollar Could Drop 10% in a Year, Says Tudor Jones
Paul Tudor Jones sees the US dollar dropping over the next year as short-term interest rates fall sharply, he said. He speaks on Bloomberg Open Interest. (Source: Bloomberg)
