SNB cut rates against market expectations
Swiss National Bank cut the policy rate by 25 BPS to 1.50%. USDCHF and EURCHF both jumped by more than one figure to 0.8970 and 0.9780 respectively. Market was only pricing in a 35% probability of this cut.
FED holds benchmark rate, May cut remains unlikely
The US Federal reserve holds benchmark rate in 5.25-5.5% target range. Jerome Powell prepared remarks and Q&A answers were more dovish than during the January meeting. FOMC median forecast remains at 75 BPS rate cuts for 2024, but the forecast increased from 3.6% to 3.9% in 2025.
Gold reacted to Powell's dovish tone by jumping to a new record high and breaking the 2200 level.
Source: Bloomberg
Equinix trying to find support
Equinix (EQIX US) has reached support zone 786-798. It's down 12% since the highs. Keep an eye at this level. Source : Bloomberg
Ethereum consolidation reaching discount zone
Ethereum (XETUSD) has retraded (fibonacci) 50% of last swing. This is considered by many prop traders as the discount zone. Next decent demand level is 2870-2990. Keep an eye at the discount zone for an eventual rebound. Source : Bloomberg
SNB could surprise with a rate cut as banks turn against Franc
A handful of banks expect Switzerland’s policymakers will go against forecasts and cut interest rates in their first decision of the year.
Barclays, Citigroup, Julius Baer and others are among the few predicting the Swiss National Bank will deliver a reduction aimed at safeguarding the economy from potential currency strength.
Source: Bloomberg
Here is the final daily breakdown of bitcoin etfs flows YESTERDAY
in a day when GBTC saw record liquidations (to meet bankruptcy obligations of Genesis and others) and when bitcoin tumbled, Blackrock's IBIT saw a surge of inflows. ETF demand still looks quite strong. Source: www.zerohedge.com
A crypto exchange is investigating a flash crash that sent Bitcoin down to $8,900 yesterday...
Source: Win Smart
True power according to Warren Buffet
Thru Compounding Quality
