Weekly Smart Pills #72
Financial Markets
Cryptocurrency Market
The cryptocurrency market saw a slight uptick this week. Bitcoin (BTC) rose by 0.036%, reaching $87,375, while Ethereum (ETH) gained 0.039%, closing at $2,095.13. Solana (SOL) increased by 0.066% to $140.12, and XRP rose by 0.033% to $2.47.
These gains were influenced by recent comments from Federal Reserve Chair Jerome Powell, who indicated a potential slowdown in next year’s interest rate reduction cycle, temporarily boosting Bitcoin’s value.
Traditional Financial Markets
Traditional markets showed a slight decline.
The SPDR S&P 500 ETF Trust (SPY) closed at $563.98, down 0.15%, while the Vanguard FTSE Europe ETF (VGK) dropped by 1.25%, ending at $71.78.
According to BG SAXO, U.S. equities continued their recovery on Monday, with the Dow Jones up 0.85%, the S&P 500 rising 0.64%, and the Nasdaq 100 gaining 0.5%.
However, weaker-than-expected retail sales growth (+0.2%) has fueled hopes for a potential rate cut by the Fed.
Economy and Regulation
Consumer confidence in the Eurozone dropped to -14.5 in March, missing expectations, due to concerns over U.S. trade tariffs and inflation. ECB President Christine Lagarde warned that the tariffs could cut Eurozone growth by 0.5% while contributing to inflation.
Germany approved a €500 billion fiscal package, but economists cautioned that its impact won’t be felt until 2026. The euro fell by 0.5%, bond yields declined, and European equities dropped—particularly in the travel and leisure sector, which was hit by disruptions at Heathrow Airport.
The Swiss National Bank (SNB) cut its benchmark interest rate by 25 basis points to 0.25%, citing low inflation and economic uncertainty. Inflation in Switzerland fell to 0.3% in February, with the SNB forecasting 0.4% inflation for 2025.
SECO lowered its GDP growth forecast for Switzerland to 1.4% in 2025, citing risks from global trade. Swiss stocks rose, with Roche, Nestlé, and Novartis posting gains on the SIX Swiss Exchange. Experts expect increased consumer spending, but a stronger Swiss franc may harm exports.
Blockchain and Innovation
This week, Switzerland’s financial market regulator FINMA authorized Zurich-based Bx Digital to operate as the country's first regulated digital asset platform using blockchain technology.
Part of the Stuttgart Stock Exchange Group, Bx Digital aims to become the leading infrastructure for decentralized trading and settlement of digital assets in Switzerland.
Trends and Statistics
Minimum Wages: Which European Countries Saw the Biggest Increases?
Top increases: Romania’s minimum wage rose by 273% (€218 → €814), while Moldova saw the largest jump with a +438% increase (€53 → €285).
Lowest and highest (2025): Bulgaria (€551) has the lowest minimum wage in the EU, while Luxembourg leads with €2,638.
Western Europe: France recorded the smallest increase (24%, from €1,458 to €1,802), while Germany saw a 50% rise (€1,473 → €2,190).
Gap reduction: The ratio between the highest and lowest minimum wages in the EU shrank from 10.4× in 2015 to 4.8× in 2025, reducing wage disparity.
PPS adjustments: Romania climbed from 24th to 10th place, while Malta fell from 8th to 17th in purchasing power rankings.
