Czech Central Bank Adds Bitcoin to Balance Sheet: A Historic Milestone in Central Bank Digital Asset Allocation

Wang Yongli, a former vice president of the Bank of China and the first Chinese mainland member of the SWIFT board, stated that American stablecoins legislation may inadvertently destroy the very industry it aims to regulate. In a lengthy analysis published on WeChat, Wang argued that the GENIUS Act, signed into law by President Donald […]

The post Aussie eyes YTD high after channel breakout appeared on BitcoinEthereumNews.com. The Australian Dollar (AUD) extends its advance against the US Dollar (USD) on Friday, with AUD/USD climbing to its highest level since September 18 as traders are almost certain the Reserve Bank of Australia (RBA) will leave interest rates unchanged on December 9. At the time of writing, AUD/USD is trading around 0.6637, on track for a second straight weekly gain. The fundamental backdrop remains supportive for the Aussie, with markets also beginning to factor in the possibility that the RBA could revisit tightening next year if domestic conditions stay firm. This stands in sharp contrast to the Federal Reserve’s (Fed) dovish outlook, which continues to weigh on the US Dollar and further supports AUD/USD. From a technical perspective, the daily chart shows a strong breakout above a descending parallel channel earlier this week, signalling a clear shift toward a bullish structure. The move higher has also pushed AUD/USD above the 21-day, 50-day and 100-day Simple Moving Averages (SMAs), which are now clustered near the upper boundary of the former channel, creating a solid support confluence in the 0.6550-0.6520 region in the event of a pullback. As long as prices hold above this zone, the broader bias is expected to remain in favor of the bulls, while a break below it would risk a deeper correction and weaken the near-term outlook. On the upside, 0.6650 is acting as the immediate resistance. A decisive close above this area would open the door toward this year’s peak at 0.6707, marked on September 17, which also stands as the year-to-date high and the highest level since October 2024. Beyond that, the psychological 0.6800 mark becomes the next bullish target if momentum continues to build. Momentum indicators reinforce the improving tone. The Relative Strength Index (RSI) is holding near 68, approaching overbought territory but…

The post Fed poised for third straight cut, BoC seen on hold – RBC appeared on BitcoinEthereumNews.com. Dual central bank interest rate decisions from the U.S. Federal Reserve and the Bank of Canada on Wednesday top the week’s calendar, with the BoC expected to hold rates, while a third consecutive 25 basis point cut from the Fed looks highly likely, RBC’s economists Nathan Janzen and Claire Fan report. Trade data key for Canada ahead of rate decision “Our base case forecast a month ago did not assume a December cut from the Fed, given inflation in the U.S. remains above the central bank’s 2% target, and Chair Jerome Powell’s comments at the last meeting about cautiously proceeding in a foggy environment. However, with an unusually divided FOMC committee, next week’s decision was always going to be a very close call. Fed communication over the last few weeks has also been leaning in the direction of a cut. With some softer data during the blackout, we doubt the hawks will put up a major fight.” “A hold by the BoC in comparison should be relatively uncontroversial. After October’s rate cut, policymakers signaled that “the current policy rate is about the right level” to deliver low, steady inflation while supporting growth through uncertainty. Delayed September Canadian trade data next week would need to show a 3.4% increase in merchandize export volume from August, and a 3.1% decrease in goods import volume in order to match the details in the third quarter GDP data from last week.” “More important still are the trade details from U.S. census bureau on whether CUSMA exemptions have continued to hold up to support Canadian exports to the U.S. in September.” Source: https://www.fxstreet.com/news/fed-poised-for-third-straight-cut-boc-seen-on-hold-rbc-202512051641