Australia and Japan have recently taken steps to lure wealthy Chinese, in an effort to encourage investment and strengthen ties with the world’s number two economy.
The Australian government has announced plans to alter its immigration rules to allow applicants who invest at least A$15 million ($13 million) in Australian assets to be eligible for permanent residency after one year, in what will be known as a ‘premium investment visa,’ the BBC reported on Tuesday. The new visa will be introduced on 1 July next year.
“This move is a clear sign that the Australian government is actively seeking to encourage foreign investment. And the government clearly recognizes the opportunities that greater ties to Asia present to Australia,” said Paul Bloxham, chief economist at HSBC.
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EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
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Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.