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Official data on Tuesday showed the euro zone economy grew faster than expected in the first quarter of 2024, emerging from recession with inflation under control.Despite the growth rate, economists say the numbers are unlikely to prevent the European Central Bank (ECB) from cutting interest rates in June as expected.Growth in the 20-nation single currency area reached 0.3% quarter-on-quarter in the first three months of this year, the EU's official data agency said.Analysts polled by FactSet and Bloomberg had expected 0.1%.However, the figures show that the eurozone economy entered a technical recession in the second half of last year after…
Hong Kong's six new Bitcoin and Ethernet spot exchange-traded funds posted trading volumes of more than HK$87.5 million ($11.2 million) on their first day of trading on Tuesday. This number pales in comparison to the $4.6 billion in first-day trading volume for 11 spots. January US Bitcoin ETF.China Asset Management (ChinaAMC) told The Block that its Spot Bitcoin ETF had assets under management (AUM) of $121.7 million as of the end of the first day, and that the company's Spot Bitcoin ETF had $121.7 million under management. He said his assets were $20.4 million.Six Bitcoin and Ether spot ETFs managed…
About 10 days ago, Bitcoin had its fourth halving. This has led some altcoins to outperform BTC in terms of price, with some predicting that another favorable moment for the crypto market could be coming soon. Furthermore, in the past, altcoins often started outperforming Bitcoin after a halving. This is also because the expectation of the halving itself generally brings optimism about BTC, but once the halving occurs, the optimism caused by expectations clearly dissipates. Bitcoin and Altcoins: Cryptocurrency Market Predictions There are at least three indicators that can be used to examine and synthesize the comparative performance of Bitcoin…
The euro area economy finally showed some meaningful growth again in the first quarter of 2024, after a long period of stagnation since the start of the energy crisis in the second half of 2022. Economies benefit from significantly lower costs and more stable energy supplies. As a result, inflation rates fall. Second, wage growth accelerated to compensate for lost purchasing power, now benefiting consumers. Although the details are not yet known, judging from the situation in France, it appears that household consumption is the driving force. In Spain, strong investment data boosted economic activity. Overall, Southern Europe appears to…
Despite a slight recovery in interest rates in December due to energy prices, headline interest rates have remained below 3% for seven consecutive months.Core inflation, which excludes energy, food, alcohol and tobacco, fell to 2.7% from 2.9% in March. The impact of the year-on-year decline in energy prices continued to ease, at -0.6% compared to -1.8% in March.The rate of increase in prices for services, which the European Central Bank is keeping an eye on, slowed to 3.7% from 4%.Meanwhile, gross domestic product (GDP) rose 0.3% in the first three months of the year, slightly above economists' consensus expectations.. GDP…
In the first quarter of 2024, seasonally adjusted GDP increased by 0.3% in both countries. euro area And that european unionAccording to preliminary figures released by Eurostat, Statistical Office of the European Union. GDP decreased by 0.1% in the fourth quarter of 2023. euro area and remained stable european union.These preliminary GDP figures are based on incomplete data sources and are subject to further revision.Compared to the same period last year, seasonally adjusted GDP increased by 0.4%. euro area and 0.5% each european union Q1 2024 after +0.1% euro area +0.2% european union in the previous quarter.Among the Member States…
Stay informed with free updatesJust sign up for euro area economy myFT Digest — delivered straight to your inbox.The economies of France and Spain grew faster than expected in the first quarter as domestic consumption and investment rebounded, paving the way for the eurozone as a whole to tentatively emerge from its recent slump.France's gross domestic product (GDP) grew by 0.2% in the first three months of the year, official figures released on Tuesday showed. This was above forecasts by economists polled by Reuters, which had expected the economy to expand by 0.1%, the same as in the final quarter…
Top crypto prices experienced volatility today as Bitcoin (BTC) prices rebounded above the $63,000 level amidst the launch of the Hong Kong ETF. In contrast, Ethereum (ETH) price has moved away from the $3,200 level. Additionally, Cardano (ADA) recorded a sideways movement while other top altcoins such as Solana (SOL) fell while XRP rose.Today's major virtual currency prices1. Bitcoin priceBitcoin price increased by 1.48% As of writing this article on Tuesday, April 30th, it has reached $63,419.72. Meanwhile, trading volume surged 42.11% in the past 24 hours to $26.78 billion. Meanwhile, the market capitalization of virtual currencies boasted $1.24 trillion.2.…
In this illustration taken on June 16, 2023, a representation of the cryptocurrency Bitcoin is placed on the motherboard of a PC. Dado Ruvik | ReutersThe Hong Kong Securities and Futures Commission (SFC) approved three ETF providers two weeks ago.The Spot Bitcoin ETF by ChinaAMC, Bosera HashKey, and Harvest rose more than 3% in early trading, but has since given up some gains to trade up about 1.5%. The three Ether ETFs were trading above 1% in the morning, but fell into negative territory by late afternoon.As of 3:50 a.m. ET, Bitcoin was trading at $63,218, while Ethereum was trading…
The FTSE was higher on Tuesday while Wall Street stocks fell (Peter Morgan, Associated Press)The FTSE 100 (^FTSE) lost its gains by the end of the session on Tuesday, as Wall Street followed European stocks lower on the back of stronger-than-expected labour costs, indicating that the US economy faces persistent inflationary pressures.Traders were also digesting new growth figures and inflation data for the eurozone.Statistics body Eurostat said that the eurozone managed to escape recession, beating growth forecasts for the start of this year, with gross domestic product (GDP) across the single currency bloc expanding by 0.3% in the January to…