BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Bitcoin Hits New Heights Amid Trump Election Speculation
On Monday, Bitcoin's price surged, briefly reaching a three-month high of $69,007.1, as speculation grows around Donald Trump's potential victory in the upcoming 2024 elections. The world’s largest cryptocurrency is now within $5,000 of its all-time high, and surpassing the $70,000 mark could signal a bullish trend.
Trump’s Pro-Crypto Stance Fuels Market Optimism
Recent polls and prediction markets indicate an increasing likelihood of a Trump win over Democratic nominee Kamala Harris. The crypto prediction platform Polymarket shows a 60.7% probability of Trump's victory compared to 39.1% for Harris. Trump's campaign is noted for its pro-cryptocurrency stance, promising to foster Bitcoin's growth in America and even accepting crypto donations.
The potential for a Trump presidency has traders optimistic about more favorable crypto regulations in the U.S., a significant issue in light of recent scrutiny from the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ). While Harris has expressed intentions for a regulatory framework for crypto, specifics remain unclear.
Broader Crypto Market Gains
As Bitcoin rallies, other cryptocurrencies are also benefitting. Ether, the second-largest cryptocurrency, rose 3.8% to $2,740.14, nearing a two-month high. Notably, SOL and ADA saw increases exceeding 6%, while XRP and MATIC gained nearly 4%. Among meme tokens, DOGE rose by 4.6%.
Recent data indicates that institutional investors are returning to the cryptocurrency market, further buoying prices as the election approaches. With just over two weeks until the vote, the market is bracing for a tightly contested presidential election.
