Dec 19, 2024 (MENAFN via COMTEX) --
(MENAFN) Saxo Bank's annual "outrageous predictions" for 2025 outlines several unlikely yet potentially disruptive events in global financial markets. The Danish bank forecasts that under a potential Donald Trump administration, massive tariffs on imports and significant cuts in government spending, aided by an Elon Musk-led Department of Government Efficiency, could severely impact the US dollar. This, in turn, might trigger a global search for alternatives to the dollar, destabilizing the global USD system. Saxo's chief macro strategist, John Hardy, warned that this situation could cause a dramatic 20% decline in the dollar against major currencies and a 30% drop against gold, while also spurring a massive surge in the crypto market.
The bank also predicts that Nvidia's market value could soar, surpassing Apple, driven by the success of its new Blackwell chip, which powers the AI arms race. Additionally, Saxo foresees China launching a 50 trillion yuan ($7 trillion) fiscal stimulus, which would be distributed directly to consumers, potentially driving a global economic reflation and higher commodity prices.
Other predictions include the possible irrelevance of OPEC due to the rise of electric vehicles, a major increase in AI data center taxes in the US, and groundbreaking advancements in 3D bioprinting technology.
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COMTEX_461040121/2604/2024-12-19T19:31:24
