Global Economic Outlook: Gold Rally, Bitcoin Down
Market turmoil has intensified in February, and many analysts are predicting that the Fed may make a U-turn on their rates hike decision. In the flight to safety, Gold has extended its rally while Bitcoin looks to be going to ground. This week’s edition of Global Economic Outlook looks at the gold, bitcoin and US dollar charts. Gold has been in a long-term bear market since 2011 when it struck a top just below $2,000/oz. An advance from its December 2015 low, was cynically regarded as just another upward correction prior to additional decline, but surprisingly gold just kept going. Bitcoin....
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The head of the International Monetary Fund (IMF), Kristalina Georgieva, has warned that the global economic outlook “has darkened significantly,” emphasizing that, regarding a global recession, “we cannot rule it out.”
IMF Says Global Economic Outlook ‘Has Darkened Significantly’
Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), discussed the global economic outlook and the prospect of a global recession in an interview with Reuters Wednesday.
Commenting on the global economy, the IMF....
Bitcoin price remains in a strong uptrend and this presents a rosy outlook for BTC and many altcoins. The year 2020 was a forgettable one for many reasons including lockdowns and economic restrictions. The shutdowns resulted in the worst economic crisis seen in decades. At the same time, most governments and central banks have responded with unprecedented fiscal stimulus and monetary expansion measures to revive their economies.Therefore, institutional investors who are wary of potential inflation — and possibly even hyperinflation — as a result, are scrambling to hedge their portfolios....
U.S. dollar weakness is painting a bullish short term outlook for Bitcoin in April. The U.S. dollar is starting to weaken once again as sellers are pushing the U.S. Dollar Index (DXY) downward, which could strengthen the momentum of Bitcoin (BTC) in the near term.Alternative assets like Bitcoin and gold are priced against the dollar. Hence, when the DXY starts to drop, it often causes BTC to rally against the dollar.BTC/USD (orange) vs. DXY (green). Source: TradingviewDollar's share of global reserves is dropping fastAccording to Holger Zschaepitz, a market analyst at Welt, the U.S.....
Global markets are cautious going into today (Wednesday’s) Federal Open Market Committee rates announcement. While many believe that the Fed may now back out of rates increases, US employment gains and calmer markets suggest the FOMC may be preparing to crank rates again. Widespread criticism and market turmoil, at the start of 2016, accused the Fed of getting the timing of their rates tightening completely wrong. While the criticism is fair – that the Fed has, historically, managed to mangle policy with uncanny accuracy – there are some indications that the Fed may continue tightening,....
Last week turned out to be a mixed bag of economic developments culminating in the release of "strong" US Housing and Inflation figures late on Friday. The notional "improvement" in the US economy has raised expectations that the Fed may raise interest rates during the course of the year. This morning, precious metals markets dropped in unison with Gold plumeting over $40 at the open. Greece's banks open their doors today and Chinese officials rejoice in their regulatory ability to control the stock market. This post is powered by the Bitcoin Trading Network xbt.social - CCN29 and get....