Copper Blasts Past $14,000 as China’s Speculative Mania Fuels Rally

Posted on January 29, 2026 by Olumide Adesina

Copper surged by the most in over 16 years as metals continued their dramatic start to the year, driven by a wave of intense speculative trading in China.

Investors are pouring money into base metals on the Shanghai Futures Exchange, expecting greater US growth and increased spending on data centers, robotics, and power infrastructure. Global prices are rising as a result, with copper hitting a record high of $14,125 per ton on the London Metal Exchange, up 7.9%.

China’s leading commodities trading platform is the Shanghai bourse, and sporadic periods of intense trading on the exchange have frequently sparked significant changes in international markets. As of last week, January was already the busiest month ever for the six base metals on the SHFE, and on Thursday, copper recorded its second-highest daily trading volumes ever.

A declining US dollar, increased demand for tangible assets, and heightened geopolitical tensions as the Trump administration pursues a more assertive foreign policy have all contributed to commodities’ eye-watering recent weeks. The rally has most recently been aided by conjecture that the next head of the Federal Reserve will be more dovish than Jerome Powell.

Precious metals, including copper, which is essential to the energy transition, have reached record highs. Even crude oil, which was hampered by worries about a global glut last year, has increased recently. According to Eric Liu, deputy general manager of ASK Resources Co., “commodities are taking turns to rally.”

The price of copper has been hovering around $13,000, and money has been accumulating over the metal for a while. As of 8:19 a.m., copper had increased by 6.4% to $13,922.50 per ton on the LME.

Nvidia Confirms No Final Nod for H200 in China Yet

Posted on January 29, 2026 by Olumide Adesina

NVIDIA has not yet received any orders for its H200 AI chips from Chinese consumers because Beijing is still debating whether to permit imports of the US company’s components. NVIDIA CEO Jensen Huang told reporters in Taipei on Thursday.

“I’m hoping that the Chinese government would allow Nvidia to sell the H200.” “The Chinese government is currently in charge, but they are still making decisions, so we must wait patiently,” Huang claimed to have met government officials and customers, but no new orders for the H200 chips had been placed.

The nation’s biggest tech companies, including Alibaba Group Holding Ltd., were recently informed by Chinese officials. They can prepare to place orders for the chips, indicating that Beijing is close to formally authorizing imports of parts needed to power artificial intelligence.

The executive went on to say that the chip is “very good” for the Chinese market and that his clients would really like to have the H200, an older version of Nvidia’s AI product that the US has theoretically agreed to sell to China. He stated that the H200’s US license is being finalized.

The most valuable company in the world is trying to regain its position in the largest semiconductor market in the world after US President Donald Trump’s administration stated the H200 chip could be exported to China while restricting sales of cutting-edge components due to national security concerns. The world’s data center operators highly value Nvidia’s chips, which are regarded as the gold standard for creating and executing AI models.

According to Huang, Taiwan Semiconductor Manufacturing Co. is Nvidia’s primary production partner. would have to “add tremendous amounts of capacity in the next decade” to satisfy demand.

Fed Holds Rates, Nods to Stabilizing Jobs — Powell’s Final Shots at Cuts Fade

Posted on January 29, 2026 by Olumide Adesina

Jerome Powell has two more chances to change interest rates before his tenure as chair of the Federal Reserve expires, but he might not need them. Powell highlighted a “clear improvement” in the US outlook and said the job market is showing signs of stabilizing after the Fed kept borrowing costs on hold on Wednesday.

It conveys a cautious optimism: Fed officials implemented three cuts in the fall, and no indication in the most recent data that additional cuts are required to support the economy.

Futures markets anticipate that rates won’t change until June. By then, Powell’s tenure as chair should have come to an end, and a new one should take over, probably ushering in a new phase of President Donald Trump’s rate-cutting campaign, which has rocked the Fed over the past year. The only two officials who voted for another cut this week were Governor Christopher Waller, one of four names on Trump’s short list, and Governor Stephen Miran, who is on leave at the Fed from his position as a top Trump aide. This could be a sign of things to come.

The Federal Open Market Committee voted 10-2 to maintain the benchmark federal funds rate between 3.5 and 3.75 percent. In favor of a quarter-point reduction, Waller and Miran dissented.

Officials removed language from the three earlier statements that suggested there were more negative employment risks. Since the Fed’s December meeting, statistics have shown that growth has accelerated, inflation has decreased, and employment has stabilized.

Powell told reporters on Wednesday that “the outlook for economic activity has improved, clearly improved since the last meeting, and that should matter for labor demand and for employment over time.” Despite growing pressure from the Trump administration, expectations for a near-term rate cut are likely to be restrained by that revised labor market assessment.

Powell, however, avoided exaggerating the labor market’s improvement. “I wouldn’t go too far with that,” he stated, despite it having shown signs of stabilizing.

China’s Massive Savings Reallocation: The Hidden Driver of Gold’s Record Run

Posted on January 29, 2026 by Olumide Adesina

Chinese households are searching for higher-yielding investments, with $7 trillion in time deposits due this year. This shift could energize the country’s financial markets further.

Millions of people have sought the safety of bank deposits due to years of poor stock performance and a prolonged real estate crisis, which left behind a mountain of savings. That capital is increasingly seeking a new home as interest rates are now falling toward 1%.

Investors are contemplating switching to stocks, insurance, or wealth management products, aligning with Beijing’s efforts to promote long-term market growth and boost the overall economy.

According to a December report by Huatai Securities Co., approximately 50 trillion yuan in deposits with maturities longer than a year will mature in 2026, up 10 trillion yuan from the previous year. Zhang Jiqiang led the analyst group. The report states that large state-owned banks hold about 30 trillion yuan, with a larger share maturing in the first half of the year.

Sources familiar with the matter say the trend is already underway, with demand for participating insurance policies at some of the biggest insurers exceptionally high as investors seek steady returns in a low-interest-rate environment. Some are also investing in stocks, driven by a strong recovery that has increased their market value by more than $1 trillion in just the past month.

Since April, Chinese stocks have been climbing, demonstrating resilience during periods of international tariff tensions, as the nation’s AI advancements continue to attract investors. Gains in the technology sector have been particularly notable.

Greenback Drops to Lowest Since 2022 After Trump Embraces Weaker Dollar

Posted on January 29, 2026January 29, 2026 by Olumide Adesina

The dollar hit its lowest level since early 2022 after President Donald Trump said he was at ease with its recent decline. When asked if he was concerned about the currency’s decline on Tuesday, Trump told reporters in Iowa, “No, I think it’s great.”

Look at the business we’re doing, and I believe in the value of the dollar. The dollar is doing very well. “Trump’s remarks fueled concerns that his unpredictable policy changes would cause foreign investors to withdraw from the US, adding fuel to what was already the dollar’s biggest decline since his tariff rollout sent markets into a tailspin last year.”.

The US dollar declined against all of its major rivals, causing the Bloomberg Dollar Spot Index to extend losses to as much as 1.2 percent before stabilizing in Asian trading on Wednesday. Treasury Secretary Scott Bessent has emphasized the difference, and the president has long accused other nations of seeking lower exchange rates to increase exports.

The sharp increase in the yen since last week, as traders prepared for a possible intervention by Japanese authorities to support that country’s currency, contributed to part of the dollar’s decline. However, Trump’s erratic policies, which have alarmed foreign allies and investors, have also contributed to the dollar’s decline.

These include his threats to annex Greenland, his pressure on the Federal Reserve, tax cuts that increased the deficit, and a leadership style that has further polarized US politics.

The weakness has occurred in spite of rising yields on government bonds and expectations that the Fed will halt interest rate cuts at this week’s meeting, both of which would have historically been viewed as favorable to the currency. In fact, Trump has made it clear that he wants interest rates to be significantly lower, which would further depress the dollar’s value

AWS Layoffs Leaked Early: Amazon Sends Mistaken Email to Employees

Posted on January 29, 2026 by Olumide Adesina

Amazon acknowledged “organizational changes” in error at the company in a notice sent to cloud employees on Tuesday. The massive online retailer is anticipated to declare widespread layoffs in its corporate workforce.

Among the businesses that are anticipated to be affected are Amazon’s cloud computing and retail divisions. In an email seen by CNBC, Colleen Aubrey, senior vice president of applied AI solutions at Amazon Web Services, stated, “Changes like this are hard on everyone.” ”

These choices are challenging and carefully considered as we set up AWS and our company for future success.

The note also cites a statement made by Beth Galetti, Amazon’s HR director, stating that the company informed “impacted colleagues in our organization.” The email’s subject line refers to “Project Dawn,” and the fact that it was “canceled” suggests that the sender may have remembered it after the fact. What is meant by “Project Dawn” is unclear.

Jason Buechel, Amazon’s top grocery executive, advised employees that the company must make more “deliberate choices” to attract customers. In addition, he disclosed other reorganization plans for the division, such as the appointment of a “grocery quality” leadership position

U.S Dollar Hits 4-Year Low as Trump Embraces the Slide: ‘I Think It’s Great’

Posted on January 28, 2026January 28, 2026 by Olumide Adesina

The dollar hit its lowest level since early 2022 after President Donald Trump said he was at ease with its recent decline.

When asked if he was concerned about the currency’s decline on Tuesday, Trump told reporters in Iowa, “No, I think it’s great.”

These include his threats to annex Greenland, his pressure on the Federal Reserve, tax cuts that increased the deficit, and a leadership style that has further polarized US politics.

Amazon Accidentally Leaks AWS Layoffs in Premature Email to Staff

Posted on January 28, 2026 by Olumide Adesina

Amazon acknowledged “organizational changes” in error at the company in a notice sent to cloud employees on Tuesday. As early as this week, the massive online retailer is anticipated to declare widespread layoffs in its corporate workforce.

These choices are challenging and carefully considered as we set up AWS and our company for future success.

ASML’s Record €13B Quarter: Upbeat 2026 Forecast Signals AI Supercycle Strength

Posted on January 28, 2026 by Olumide Adesina

ASML reported orders that exceeded forecasts, and 2026 sales guidance was also higher than anticipated as AI demand continues to boost the Dutch chip giant’s operations.

According to Visible Alpha, cited by Reuters, bookings, one of the most closely watched metrics from investors, came in at 13.2 billion euros ($15.8 billion) in the fourth quarter of 2025, exceeding analyst expectations of 6.32 billion euros. Roger Dassen, ASML’s finance chief, said that this quarter’s orders were a record.

Additionally, ASML announced a plan to buy back shares worth 12 billion euros by December 31, 2028.

The company stated that it anticipates net sales of between 8.2 billion and 8.9 billion euros in the current quarter and between 34 billion and 39 billion euros in total sales for 2026.

ASML does not anticipate that total net sales in 2026 will be lower than those in 2025. According to the company’s forecast, revenue growth will be at least 20%.

The AI infrastructure boom is driving several tailwinds for ASML, which produces the tools needed to make the world’s most sophisticated chips.

This year alone, ASML’s shares have increased by almost 30%. (TSMC) added to the narrative that the demand for AI chips and infrastructure will persist this month, with another record increase in profit in the fourth quarter.

The largest chipmaker in the world, TSMC, is a client of ASML and produces semiconductors for businesses like AMD and Nvidia.

In the meantime, there is a scarcity of memory semiconductors, which has led to an unheard-of increase in the component’s cost; some in the electronics sector predict that the shortage will last until 2027. According to analysts, the largest memory manufacturers, such as Samsung and SK Hynix, will buy more ASML machines to expand their chipmaking capacity in the next year or two. For instance, Barclays stated in a note this month that it anticipates SK Hynix to take 1.

Ripple Boosts Saudi Vision 2030: Partners with Riyad Bank on Blockchain Payments and Tokenization

Posted on January 28, 2026 by Olumide Adesina

Ripple has teamed up with Riyadh Bank amid increasing interest in blockchain-based infrastructure at the institutional level,, a Saudi financial institution, to investigate the application of blockchain technology within the nation’s financial system.

Reece Merrick, senior executive officer and managing director for the Middle East and Africa at Ripple, announced the partnership on Monday. According to Merrick, Ripple, and Jeel, the innovation division of Riyadh Bank has an agreement to research uses for blockchain technology.

The agreement will be in the form of a memorandum of understanding that addresses asset tokenization, digital asset custody, and cross-border payments.

Vision 2030, Saudi Arabia’s long-term plan to update its financial system and economy while reducing reliance on oil exports, is the goal of these initiatives. Given Riyad Bank’s size and position within the national financial system, the agreement is noteworthy.

Tokenization activity on public blockchains is growing worldwide in addition to regional developments. Institutional use of blockchain-based infrastructure is reflected in the XRP Ledger’s recent surpassing of $1 billion in on-chain tokenized assets. Tokenized US Treasury funds and products, as well as the expansion of RLUSD, which has started trading on significant platforms like Binance, have contributed to the rise.