BITCOIN

Key events: Eurozone - Eurogroup Meetings Stocks gained momentum on Friday, buoyed by November’s employment report that met market expectations, reinforcing optimism about the economy’s resilience. The data bolstered speculation of an impending Federal Reserve rate cut, contributing to a mixed day across equity markets. The S&P 500 rose 0.3%, while the Nasdaq Composite gained 0.8%, both achieving record highs. In contrast, the Dow Jones Industrial Average closed 0.3% lower, relinquishing earlier gains due to key stock declines.

Cryptocurrencies, digital or virtual currencies that use cryptography for security, have revolutionized the financial world. Since the inception of Bitcoin in 2009, the cryptocurrency market has grown exponentially, encompassing a wide array of digital assets, including altcoins, stablecoins, and tokens linked to decentralized finance (DeFi) projects.

Key events: USA - Fed Waller Speaks Eurozone - Eurogroup Meetings UK - BoE MPC Member Mann Speaks USA - Crude Oil Inventories US stocks showed mixed performance on Tuesday, as investors remained cautious ahead of Nvidia's earnings report due on Wednesday. The Dow Jones Industrial Average had dropped 67 points, or 0.2%, while the S&P 500 inched up by 0.1%, and the NASDAQ Composite gained 0.1%.

Venturing into the realm of digital finance, Bitcoin emerges as a pioneering force, heralding the dawn of cryptocurrencies. Embodied within its decentralized framework lies a transformative concept, one that challenges the very essence of traditional monetary systems. Since its inception in 2009, under the cryptic guise of Satoshi Nakamoto, Bitcoin has disrupted conventional paradigms, offering a decentralized alternative to intermediaries like banks and governments.

Key events: USA - FOMC Member Bowman Speaks USA - CB Consumer Confidence (Jun) A broad stock market rally pushed the blue-chip Dow to a one-month high on Monday, as investors shifted away from AI-linked stocks and added laggards to their portfolios, anticipating Federal Reserve interest rate cuts this year.

Key events: New Zealand - GDP (QoQ) (Q1) Switzerland - SNB Interest Rate Decision (Q2) UK - BoE Interest Rate Decision (Jun) USA - Initial Jobless Claims USA - Philadelphia Fed Manufacturing Index (Jun) USA - Crude Oil Inventories Asian stocks paused on Thursday, remaining near their highest levels in two years as traders awaited further US policy signals. Meanwhile, the British pound held steady ahead of a Bank of England meeting, where interest rates are expected to stay unchanged.

In the fast-paced realm of cryptocurrency investment, Bitcoin has once again seized the spotlight with its staggering returns, particularly notable during 2023 and early 2024. As the foremost cryptocurrency by market capitalization, Bitcoin's recent surge to unprecedented heights, exceeding $70,000 in March 2024, has reignited investor interest and speculation.

Key events: Japan - GDP (QoQ) (Q4) UK - BoE MPC Member Mann  On Friday, the S&P 500 and Nasdaq experienced a decline after reaching record highs earlier in the session. High-flying chip stocks reversed course, and a mixed labor market report, featuring more new jobs than anticipated coupled with a rising unemployment rate, contributed to the market's retreat.

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Key events: Eurozone - ECB's Elderson Speaks USA - Core Durable Goods Orders (MoM) (Jan) USA - CB Consumer Confidence (Feb) The S&P 500 achieved a fresh record high of 5,088 last week, propelled by Nvidia's impressive quarterly report. Earlier on Friday, the index reached 5,111, establishing a new all-time peak.