The US Treasury Secretary Scott Bessent posted in X.com that the Trump administration will apply maximum pressure on Iran to disrupt the regime’s oil supply chain and exports, due to the country’s supporting terrorist proxies and partners.
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Federal Reserve Chair Jerome Powell said he doesn’t believe a high-profile Supreme Court case over former President Donald Trump’s dismissal of two Democrats from federal labor boards poses a threat to the Fed’s independence. Speaking at the Economic Club of Chicago, Powell acknowledged the case is being closely watched but said, “I don’t think that decision will apply to the Fed.”
Background to this is here:
Powell emphasized that the Fed operates independently of political pressure and reaffirmed its commitment to making policy decisions based solely on data and analysis to fulfil its dual mandate. “We’re never going to be influenced by any political pressure,” Powell said.
The case, involving Cathy Harris and Gwynne Wilcox, has raised concerns that a Supreme Court ruling in Trump’s favour could weaken safeguards protecting independent agencies like the Fed. Lawyers for Harris warned the decision could open the door to political interference at the central bank.
Powell said the Fed’s independence remains “widely understood and supported” across Washington, including in Congress.
Under current law, Fed governors—appointed by the president and confirmed by the Senate—can only be removed “for cause,” not over policy disagreements.
As for policy remarks, this from earlier:
This article was written by Eamonn Sheridan at www.forexlive.com.
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The Greenback resumed its bearish sentiment and returned to the area of multi-month troughs on Wednesday, always against an unchanged tariff backdrop and Chief Powell’s neutral message from his remarks in Chicago.
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Gold has surged to new highs amid persistent overnight buying from Asia, with volumes well above average. Goldman Sachs highlights that despite the rally, positioning is not yet stretched. Their bullish year-end forecast now stands at $3,700/oz, with a $4,500/oz tail-risk scenario under potential Fed policy shifts.
Key Points:
Asian Buying Momentum:Spot gold broke Monday’s highs, marking eight consecutive overnight rallies driven by strong Asia session demand.
Elevated Volumes:Trading volumes are currently running ~40% above the 10-session average at this time of day.
Positioning Still Roomy:CFTC, ETF, and open interest data indicate speculative positioning is not yet extended, suggesting room for further upside.
Goldman’s Upgraded Outlook:GS recently raised their 2025 year-end forecast to $3,700/oz, citing:
Increased ETF inflows
Continued central bank buying
Elevated geopolitical and macro uncertainty
Tail Scenario:If the Fed is forced to subordinate policy due to debt concerns or US reserve currency shifts, GS sees gold potentially spiking to $4,500/oz.
Conclusion:
Goldman views the current rally as sustainable, with strong physical demand and investor inflows from Asia underpinning the move. Positioning remains far from euphoric, supporting their constructive outlook, while macro risks could trigger a super-spike scenario in the months ahead.
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This article was written by Adam Button at www.forexlive.com.
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Webull entered the public markets this week, sending
its stock price soaring nearly 372% just a day after its Nasdaq debut. The stock-trading app’s explosive rise follows its
merger with SK Growth Opportunities Corp., a special-purpose acquisition
company, pushing Webull’s valuation to almost $30 billion in record time.
Stock Price Drops Over 76%
However, the price has since declined from its peak.
According to TradingView data, BULL is changing hands for $35, a decline of 76%
from its peak. With its shares now listed under the ticker “BULL,”
Webull’s market entry signals both investor appetite for digital brokerage
platforms and renewed interest in select SPAC deals, even as the broader SPAC
trend has cooled.
Webull first gained traction in the U.S. in 2020 when
retail investors, many flush with stimulus checks, turned to the app for
commission-free trading. It now operates in 15 regions globally, claiming over
23 million registered users and more than 50 million app downloads.
The company offers trading in stocks, ETFs, options,
and cryptocurrencies, along with charting tools, watchlists, and a premium tier
that costs $40 annually. Founded by former Alibaba and Xiaomi executive Wang
Anquan, Webull now sits alongside Robinhood, Charles Schwab, and E-Trade in the
increasingly crowded retail trading space.
Questions Around Global Operations
Webull’s path to Nasdaq came through its combination
with SK Growth Opportunities Corp., whose shareholders approved the deal on
March 30. As part of the transaction, SK Growth became a wholly owned
subsidiary, and its securities were converted into Webull shares and warrants.
Trading under the symbols “BULL,” “BULLW,” and “BULLZ,” Webull marked its
market debut by ringing the opening bell at Nasdaq on April 11.
Webull is officially a publicly traded company on @Nasdaq! Thank you to all our users for being a part of our financial journey. Watch us ring the opening bell today! This is just the beginning. $BULL #NasdaqListed #Nasdaq #BULL #WebullWebull Financial LLC, Member SIPC,… pic.twitter.com/co6c8idQJr
— Webull (@WebullGlobal) April 16, 2025
Despite the market enthusiasm, Webull faces scrutiny
over its international ties. In November, the U.S. House Select Committee on
the Chinese Communist Party contacted Denier regarding the company’s
potential links to China, CNBC reported.
Still, with a multibillion-dollar valuation and fresh
visibility, Webull appears well-positioned for the next chapter. As trading
apps continue to reshape how individual investors engage with markets, Webull’s
meteoric rise could signal a broader shift in how fintech companies approach
public listings in a post-SPAC-boom world.
This article was written by Jared Kirui at www.financemagnates.com.
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Oil prices jumped on Monday as US stocks closed their worst quarter since 2022. Read more in today’s trading news.
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The Mexican Peso continues to appreciate against the US Dollar as market appetite remains sour, while Fed Chair Jerome Powell emphasized that he remains slightly focused on inflation as the economy is near maximum employment. At the time of writing, the USD/MXN trades at 19.96, down 0.58%.
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The GBP/JPY pair continued to edge lower on Wednesday, falling toward the 188 zone and marking a daily decline of nearly 0.9%. The cross remains anchored near the bottom of its range between 187.668 and 189.664, reinforcing the weight of recent selling pressure.
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The wheels are coming off the equity market with the S&P 500 down nearly 3% and the Nasdaq down 4.2%. The market was evidently looking for a nod to rate cuts from Powell and it didn’t come.
Now we’re getting some serious kicking and screaming. USD/JPY has broken the 2025 low and is trading at the worst levels since October as stops are hit in a quick, 70 pip move.
This chart is very much looking like it wants to test 140.00 again and if we don’t get some good news on the earnings front, the Nasdaq is likely to test its lows as well.
This article was written by Adam Button at www.forexlive.com.
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If Canada is able to play its cards right, there are enormous and highly economic long-life oil assets that can be exploited. It would require pipelines to the west coast but there is an increasing national acceptance for those kinds of projects due to antagonism from the United States.
The report highlights how China is aggressively trying to shore up trading relationships, particularly for commodities.
This article was written by Adam Button at www.forexlive.com.
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Learn how to trade through turbulent times and why investors consider safe haven markets.
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A quiet policy shift in Washington may set the stage
for the most aggressive Bitcoin price surge yet if the US acts on it. Experts from the Bitcoin Policy Institute believe the
federal government could ignite a parabolic BTC rally by accumulating a massive
Bitcoin reserve, with one estimate placing the price at $1 million per coin.
US Government Bitcoin Purchase
In a recent podcast appearance, Zach Shapiro, head of
policy at the Bitcoin Policy Institute (BPI), explored the implications of the
US government buying 1 million Bitcoin. He described the scenario as a potential “global
seismic shock” that could instantly send the price surging to seven
figures, Cointelegraph reported.
The comments came in the wake of President Donald Trump’s March 7 executive order directing the creation of a
Strategic Bitcoin Reserve and a broader digital asset stockpile.
BREAKING: 🇺🇸 President Trump signs executive order officially creating a #Bitcoin Strategic Reserve. pic.twitter.com/MiyTAbRkE2
— Bitcoin Magazine (@BitcoinMagazine) March 7, 2025
That policy, aimed at positioning the US as a “Bitcoin
superpower,” instructs agencies to explore budget-neutral strategies for
accumulating Bitcoin without burdening taxpayers.
This “Bitcoin arms race” could reframe national power
in digital terms. Pines added that strategic assets like oil, gold, and land
sales could help fund Bitcoin purchases. Revenues from tariffs and royalties
are also considered non-tax sources of funding.
Tariffs as a Tool for Bitcoin Acquisition
On April 2, Trump issued another executive order
imposing a baseline 10% tariff on all imports. While the broader impact on
trade remains uncertain, Pines pointed to tariffs as a potential budget-neutral
method to fund BTC accumulation.
Senator Cynthia Lummis also reintroduced the BITCOIN
Act, which advocates for increasing US BTC reserves beyond the 1 million mark.
The combination of policy proposals, tariffs, and legislative momentum signals
a shifting approach to how the US might integrate Bitcoin into national
reserves.
On April 15, spot Bitcoin ETFs saw $76.42 million in
inflows, marking a second consecutive day of gains, according to data from
Sosovalue. Blackrock, Ark 21Shares, and Bitwise led the charge. In contrast,
ether ETFs lost $14.18 million, continuing a weeks-long outflow trend.
Total net assets in Bitcoin ETFs now sit near $93.72
billion, highlighting a growing divergence in investor sentiment between BTC
and ETH. While Bitcoin ETF activity suggests recovering confidence, Ether’s
continued outflows signal persistent skepticism from institutional players.
This article was written by Jared Kirui at www.financemagnates.com.
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