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According to sources familiar with the matter, the EU is preparing to present a plan to the US to implement the next phase of the trade agreement reached between the two countries this summer. The EU trade commissioner will meet with the US trade commissioner later this month.November 13th - Switzerlands chief trade negotiator is traveling to Washington to finalize a trade agreement with the United States, aiming to reduce the current 39% tariffs on Swiss goods. A spokesperson for the Swiss Ministry of Economic Affairs stated that Economy Minister Guy Parmelin and State Secretary Helene Budliger Artieda will travel to Washington for further consultations. The White House has not yet commented. Sources indicated earlier this week that Switzerland hopes to finalize an agreement to reduce US tariffs on its exports to 15%. Earlier this week, Trump confirmed that his administration is "working to reach an agreement to slightly reduce tariffs." When asked if the target was 15%, Trump responded, "I havent said a specific number, but well take some steps to help Switzerland."Standard Chartered Bank: Gold prices face upside risks in the first quarter of 2026.Standard Chartered Bank: Continues to expect the average gold price in the fourth quarter to be $4,000 per ounce.A spokesperson for the Swiss Ministry of Economic Affairs stated that Swiss Economy Minister Guy Parmelin and State Secretary Helene Budliger Artieda will travel to Washington for further talks on finalizing the trade agreement with the United States.

Crypto Market Daily Highlights – DOGE and ADA Lead a Bearish Top Ten

Cory Russell

Dec 29, 2022 14:11

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For the top 10 cryptos on Wednesday, it was a negative session. Leading the way down were DOGE and ADA, with MATIC and XRP far behind. Notably, BTC fell below $16,500 for the first time in eight sessions while failing to reach $17,000 for the eighth straight session.


Throughout the midweek session, the cryptocurrency market was dominated by a bearish mood. As market worries about Fed monetary policy and the growing possibility of a harsh landing propelled riskier assets into the red, hopes of a post-holiday recovery receded.


With China's economy scheduled to reopen and demand likely to jump, along with Russia's embargo on oil shipments to nations with price limits, concerns about another spike in inflation that would compel the Fed to raise rates longer are still prevalent.


The US unemployment rate is at 3.7%, which is lower than the Fed's target rate of 5.0%. This gives the Fed plenty of leeway to maintain its aggressive interest rate trajectory.


The most recent spike of new COVID-19 cases throughout China is another factor contributing to the long list of economic challenges. While China has eliminated the need for quarantines, other nations are starting to place travel restrictions on people coming from China.


The S&P 500 lost 1.20%, while the NASDAQ Index dropped by 1.35%


US unemployment claims data will be of importance today. Better-than-expected results might trigger another sell-off since investors are uneasy about the Fed. The cryptocurrency market will probably continue to follow the NASDAQ Index until there is a significant crypto event. The NASDAQ mini gained 24.5 points this morning.

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