Bitcoin holds $24K as USD taps 3-week lows on eurozone inflation report
Estimates for July inflation across the euro area make for grim reading at 8.9%, with the U.S. dollar rebounding. Bitcoin (BTC) sought to pin $24,000 as support before the July 29 Wall Street open as fresh inflation data sparked worries for the euro.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewEurozone inflation estimate shows no peakData from Cointelegraph Markets Pro and TradingView showed BTC/USD maintaining most of its latest gains after spiking to nearly $24,500 overnight. The day’s macro action delivered painful news for the European Economic Area (EEA), as the latest....
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The Eurozone’s inflation rate reached a record high in August of 9.1%, the highest ever recorded in history, according to Europe’s statistics office Eurostat. The rate was higher than economists suspected and most of the rise was fueled by Europe’s rising energy prices. Europe’s Torrid Inflation Continues to Rise, While the Region Faces an Energy Crisis Currently, Europe is suffering from the highest inflation rate the euro area has seen in almost 50 years, and each one of the members of the monetary union has seen red-hot consumer prices. Just recently, Reuters....
According to the European Union’s statistics office Eurostat on Wednesday, Euro area annual inflation is up to 9.9% in September, up from 9.1% in August. The inflation rate in September tapped a 40-year high, and investors suspect that the eurozone is “at risk of a financial meltdown.” European Union’s Consumer Price Index Taps a 40-Year High, EU Residents Take to the Streets to Protest Scorching Inflation Europe’s inflation has jumped a great deal since September 2021, according to the recent report published by Eurostat on Wednesday morning. “The euro area annual inflation....
While inflation continues to roar in the U.S., the inflation rate in the eurozone tapped another high last month reaching 7.5% in March. Energy and food prices have soared throughout the 19 member state economies, and European Central Bank president Christine Lagarde expects energy prices to “stay higher for longer.”
Eurozone Inflation Continues to Climb, ECB Predicted to Raise Rates 3 Times This Year
The 19 countries sharing the euro are suffering from rising inflation according to figures stemming from March that shows the inflation rate rose to....
Eurozone inflation is up from 8.9% in July as the continent faces skyrocketing energy, gas and food prices due to the ongoing crisis in Ukraine. August marks the ninth consecutive month of rising inflation for the Eurozone at 9.1%. In July, the official inflation numbers landed at 8.9%. The Eurozone consists of 19 countries, including Germany, France and Belgium. This comes as the European Union (EU) faces a massive energy and gas crisis, largely as a result of the ongoing conflict in Ukraine. Current prices for daily necessities such as food, gas and electricity have soared across the....
The European Central Bank (ECB) released a report on Tuesday, May 24, that stated that one in ten households in the Eurozone owns crypto-assets such as Bitcoin. However, the wealthy are marginally more likely to hold them than the poor. In a pre-released chapter of its Financial Stability Review, the ECB stated that recent volatility […]