Bitcoin Weekly Outlook: More Turbulence Expected on Mixed Economic Data
Bitcoin managed to close the previous week in green as a slightly optimistic economic data in the US lifted demand for the US dollar. The cryptocurrency and the greenback have trended inversely to one another since the March 2020’s global market crash. They continue to serve as counter-indicators to one another, a sentiment that has grown further because of the ongoing stimulus negotiations and the upcoming US presidential election on November 3. Last week, investors’ […]
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China posted a trade balance recovery to an audible global sigh of relief from the captains of finance. Some allege that the figures have been cooked in special sauce but, even so, the positive data from the world's economic kitchen has mixed implications. This post is powered by the Bitcoin Trading Network xbt.social - CCN29 and get 29USD off! Economic Indicators. World Indexes and Forex Rates. Commodities. In the Calendar This Week. Mon 12 October. US Bank Holiday. Tue 13 October. Australia Business Confidence (actual:5 previous:1). China Trade Balance (actual:60.3B expected:46.9B....
International markets are mixed today, as investors and speculators try to find yield in a shifting world economy. Production is slowing and commodities are declining in unison, but the scramble for illusive profits increases. This post is powered by the Bitcoin Trading Network xbt.social - CCN29 and get 29USD off! Economic Indicators. World Indexes and Forex Rates. Commodities. In the Calendar This Week. Sun 9 August. Chine CPI y/y 1.6% (expected: 1.5% previous: 1.4%). Mon 10 August. Japan Bank Lending y/y 2.6% (previous: 2.5%). Tue 11 August. Australia NAB Business Confidence. German ZEW....
The IMF has forecast economic growth to slow from 6.1% last year to 3.2% in 2022, which some believe will have negative consequences for crypto. Investors are warning of further volatility in the digital asset markets as the International Monetary Fund (IMF) forecasts a slowdown in global economic growth.The IMF’s July update on the World Economic Outlook titled “Gloomy and More Uncertain” points to “higher-than-expected inflation,” and a contraction of global output as indicators of incoming poor economic growth. The report states in succinct terms that there are likely economic slowdowns....
Bitcoin bloomed higher last week despite weaker demand for safe-haven assets against a prosperous US economic outlook.
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....