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Markets

Currencies

Yesterday

The Australian dollar took a leg lower after rate cut bets were dialled back.

$A hit as strong US data dents rate cut hopes

The local currency is back below US65¢ after traders pushed back the likely timing of the first rate cut by the Federal Reserve and the Reserve Bank of Australia this year.

  • Cecile Lefort

March

Investors are buying on the dips after record ETF outflows.

Bitcoin tops $US70,000 again after slumping on ETF outflows

The largest digital currency jumped more than 5 per cent after almost $1.4 billion was yanked from exchange-traded funds last week.

  • David Pan
AP

Pound’s worst week of the year is upending an $8.4 billion trade

The UK currency hit the skids after the Bank of England laid the groundwork for a shift to interest-rate cuts, torpedoing a view among traders that the central bank would take longer than its peers in Europe and the US to act.

  • Naomi Tajitsu
The Erdenet copper mine in Mongolia. China is the biggest importer of copper.

Copper upstages iron ore’s influence on the Australian dollar

The base metal – which hit an 11-month high last week – is increasingly viewed as an indicator of economic growth, particularly in China.

  • Cecile Lefort
Jonathon Miller of Kraken argues crypto speculation is no different to sharemarket speculation, as the blockchain sector targets payments.

Crypto mania and speculation drive bitcoin higher

The speculative frenzy in digital currencies has doubled the value of some memecoins as retail traders bet on blockchain’s future use.

  • Tom Richardson
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The comeback in Bitcoin that started in early 2023 has lifted the overall market value of digital assets to about $US2.6 trillion.

Bitcoin surges to record on sustained ETF demand

The largest digital asset rose as much as 2.5 per cent to $US69,191.95 in US trading, then profit taking knocked the cryptocurrency back below $US63,000.

  • Updated
  • Philip Lagerkranser
At the heart of this frenzy for the largest crypto token lies seemingly insatiable demand from US-listed bitcoin ETFs.

Bitcoin jumps as options point to $US80,000

The token has surged around 60 per cent this year, outpacing traditional asset classes such as stocks by a wide margin.

  • Suvashree Ghosh and Sidhartha Shukla

February

Bitcoin has soared to record highs in Aussie-dollar terms.

Bitcoin soars to $A record ahead of supply crunch

“It’s a demand, demand, demand story,” the CEO of Digital X said of the world’s largest cryptocurrency, which broke through $96,000 in Australian dollar terms.

  • Jessica Sier
Sam Bankman-Fried leaves a court in Manhattan last year.

FTX founder’s lawyers recommend short prison sentence, no fine

Sam Bankman-Fried should serve no more than 6½ years in jail for orchestrating the fraud that brought down the cryptocurrency exchange, a judge has been told.

  • Chris Dolmetsch and Robert Burnson
Bitcoin’s rally to start the year gathers upward momentum.

Bitcoin tops $US63,000 with enthusiasts eyeing record highs

Bitcoin has more than tripled in value since the start of last year, climbing back from a 64 per cent plunge in 2022, in a remarkable comeback.

  • David Pan and Sidhartha Shukla
Adding to the optimism around bitcoin was another large purchase of the tokens by MicroStrategy.

Bitcoin tops $US57,000 for first time since 2021

Investors have poured around $8.6 billion into a batch of exchange-traded funds that began trading last month.

  • Updated
  • Suvashree Ghosh and Sidhartha Shukla
UBS’s Singapore-based regional CIO Kelvin Tay in Sydney this week.

UBS bets Aussie dollar among best trades of 2024

The $5.8 trillion wealth manager expects the Australian dollar will jump 10 per cent this year, and is also betting on a rally in Chinese and Indian stocks.

  • Alex Gluyas
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Bitcoin hits $US50,000 for first time in more than two years

The cryptocurrency is benefitting from an inflow into newly approved spot bitcoin ETFs as well as the S&P 500’s record rally in 2024.

  • Hannah Lang and Elizabeth Howcroft
Bitcoin is heading towards $US49,000 charged by the equity rally and the coming halving event.

Bitcoin eyes longest winning run in a year on ETF inflows

The largest cryptocurrency is inching closer to $US49,000 amid steady inflows and buoyant equity markets.

  • Sunil Jagtiani
ANZ is forecasting RBNZ governor Adrian Orr will have to hike rates twice more this year.

$A slumps to eight-month low against Kiwi on rate rise bets

Traders ramped up speculation that New Zealand’s central bank will resume its tightening cycle as ANZ tipped the cash rate to hit 6pc.

  • Alex Gluyas