Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Trump: We want to feed the people in Gaza, we do not want them to starve.
US President Donald Trump: We will impose sanctions on Russia if it does not end the war on Ukraine.
Israeli media: Polls show that 52% oppose Prime Minister Benjamin Netanyahu while only 29% support him.
Israeli media: 32% of Americans still support "Israel's" war on Hamas, while 60% oppose it.
Israeli media: Core US support for "Israel" hits its lowest, while support for Palestine reaches its highest levels.
Al Mayadeen's correspondent reports martyrs, injuries in Israeli bombardment of home in Heker al-Jame area in Deir al-Balah, central Gaza.
Al-Quds Governorate: Today, the spatial division of Al-Aqsa Mosque began in a public and dangerous manner, and we warn of a religious war in the region
The Ministry of Health in Gaza: This brings the total number of victims of famine and malnutrition to 175, including 93 children
The Ministry of Health in Gaza: Gaza's hospitals recorded six deaths due to starvation and malnutrition in the past 24 hours, all of them adults
Informed sources to Al Mayadeen: A new chapter in relations between Iran and the International Atomic Energy Agency will begin within the framework of the new law passed by Parliament

Trump could blow up dollar, disrupting global market: Danish bank

  • By Al Mayadeen English
  • Source: News websites
  • 4 Dec 2024 22:20
3 Min Read

Saxo Bank predicts that Donald Trump's tariffs could cause the dollar to plunge by 20% in 2025.

Listen
  • x
  • The likeness of Benjamin Franklin is seen on US $100 bills, on July 14, 2022. (AP)
    An image of Benjamin Franklin is seen on US $100 bills, on July 14, 2022. (AP)

Denmark's Saxo Bank has unveiled its annual "outrageous predictions," which highlight potential but improbable events that could disrupt global financial markets in 2025.

In its forecast, the investment bank suggests that the world will seek alternatives to the US dollar in the coming year, triggered by the incoming Donald Trump administration imposing hefty tariffs on imports and slashing government spending, with the help of an Elon Musk-led Department of Government Efficiency.

Saxo’s chief macro strategist, John Hardy, said that “the implications for the US dollar are dire for trade around the world, as it cuts off the needed supply of dollars to keep the wheels of the global USD system turning, ironically risking a powerful spike higher in the US dollar."

As a result, the cryptocurrency market is expected to surge, potentially reaching over $10 trillion, while the US dollar could decline by 20% against major currencies and fall 30% relative to gold.

Analysts at the Copenhagen-based bank also predict that Nvidia’s market value could soar to twice that of Apple, fueled by the expanded availability of its revolutionary 208-billion transistor Blackwell chip.

According to the bank, as the AI arms race intensifies, "no giant or even government wants to be left behind, and as AI data center electricity costs have soared, the insatiable demand for the more powerful and yet less power-hungry Blackwell chips sees Nvidia taking the crown as the most profitable company of all time."

Related News

Iraq’s PMF law seen as test of sovereignty amid US objections

Notorious Palantir lands record $10bln contract with the US Army

This could drive Nvidia’s share price from its current level of nearly $139 to "well above" $250, sparking market speculation on just how high it could climb.

China could be a 'game changer' 

Another major shake-up for global markets could come from China, which may introduce a colossal fiscal stimulus of 50 trillion yuan ($7 trillion) in 2025 and the years that follow, designed to "reflate" its economy.

The bank’s Chief Investment Strategist Charu Chanana wrote, “Much of the spending goes directly into consumers’ pockets via e-CNY digital currency, so that it will be injected straight into the economy rather than to pay off debt."

According to the strategist, these measures could trigger a "strong reflationary impact" both in China and globally, along with rising commodity prices.

In another prediction, the bank suggests that the Organization of Petroleum Exporting Countries (OPEC) could become "irrelevant" next year as electric vehicles gain widespread popularity and affordability.

“With some members already cheating production quotas to grab what income they can and export demand falling, a majority of members quickly realize the jig is up. Amidst the bickering and in-fighting, key members leave. This consigns OPEC to the ash heap of history. Former members max out production to ensure market share, driving a large drop in oil prices,” Saxo wrote.

Other forecasts for 2025 include the UK pound regaining its post-Brexit discount against the euro, the US implementing a significant AI data center tax due to rising power costs, and the creation of the first fully functional human heart through 3D bioprinting technology.

  • United States
  • BRICS
  • Dollar
  • Denmark
  • US dollar
  • China
  • Financial market
  • Global market
  • Donald Trump
  • dedollarization

Most Read

A rescued crew member from the ETERNITY C vessel in a video released by the Yemeni Armed Forces on July 28, 2025 (Yemeni Military Media)

Yemen Navy reveals fate of targeted Eternity C ship crew

  • Politics
  • 28 Jul 2025
An Israeli tank explodes following an ambush by al-Qassam Brigades in Gaza, Occupied Palestine, undated (Al-Qassam Military Media)

Al-Qassam strikes Israeli vehicles in Gaza, inflicts casualties

  • Politics
  • 30 Jul 2025
UAE lodges complaint against Israeli ambassador over 'misbehavior'

UAE lodges complaint against Israeli ambassador over 'misbehavior'

  • Politics
  • 1 Aug 2025
An explosion seen during an Iranian missile attack on Tel Aviv, Occupied Palestine, June 13, 2025 (AP)

If Iran is attacked again, geography of response may change: IRGC spox

  • Politics
  • 30 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A member of the al-Qassam Brigades, the armed wing of Hamas, takes part in a parade as he celebrates a ceasefire agreement between Hamas and the Israeli regime in Deir al-Balah, Gaza Strip, Sunday, January 19, 2025 (AP)
Politics

Al-Qassam: We’ll allow aid to Israeli captives if Gaza siege ends

Freed Lebanese freedom fighter Georges Abdallah during an interview on Al Mayadeen, which aired on Sunday, August 3, 2025 (Al Mayadeen screengrab)
Politics

Exclusive: Resistance key to building state, Georges Abdallah says

United Nations Secretary General Antonio Guterres gives a statement about the situation in Gaza at UN headquarters, Friday, June 27, 2025 (AP)
Politics

UN warns Gaza faces water crisis, looming famine under Israeli siege

Israeli soldiers drive their armored personnel carrier along the Gaza Strip, in southern occupied Palestine, Wednesday, July 30, 2025 (AP)
Politics

Ex-Israeli general says Gaza starvation campaign isolated 'Israel'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS