DeFi News Daily Official TheBitTimes.com

The US markets and economy are currently under an intense overhaul. The US markets have been witnessing a steady decline as the US dollar continues to weaken. Experts are stating that the US dollar is headed for a further decline in the near future, driving the investor sentiment towards Bitcoin and gold. At the same time, the US Fed jobs data is also reporting stagnating numbers, spelling trouble for the US economy to deal with. Also Read: Investors Ditching US Dollar For Bitcoin, Gold: Citadel CEO The US Dollar’s Global Share Is Rapidly Declining Source: Pixabay According to the latest update by the Kobeissi Letter, the US dollar’s stature as the reserve currency asset is now standing at a precarious threshold. The platform reported that the US dollar’s reserve currency dominance is now falling, with its forex presence depleting at a consistent pace. The USD’s share in global banks has fallen by 1.5% in Q2, to 56.3%, the lowest it has been since 1994. “The US dollar’s reserve cu...

The US dollar strength keeps breaking records. Jobs data from December was better than expected. The dollar index went up to 109.99, the highest in two years. The euro and pound dropped to their lowest points in years. All this happened because the U.S. economy is doing well. Source: TradingEconomics Also Read: Cathie Wood’s Ark Invest Buys $8.6M of Amazon (AMZN) Stock How U.S. Dollar Strength Impacts Global Markets and Forex Trading Source: Watcher Guru Jobs Report Fuels Dollar’s Rally Source: BLS.gov The U.S. added lots of jobs in December. The jobless rate fell to 4.1%. This strong dollar impact changed how traders think about rate cuts. They now only expect one small cut in 2025. “With markets currently pricing in just over one rate cut by year-end, the reaction to the inflation print may be relatively measured,” stated Uto Shinohara, senior investment strategist at Mesirow Currency Management. Source: BLS.gov Global Currency Pressures Mount The euro went down by ...