Bitcoin hit a two-week high due to reactions to China's stimulus efforts. Speculation suggests investors may shift from Chinese stocks to cryptocurrencies. Bitcoin rose 2.8% in the last 24 hours, reaching $63,890.
Bitcoin reached a two-week high amid reactions to China's new stimulus. Speculation grows that investors may prefer cryptocurrencies over Chinese stocks. The largest cryptocurrency climbed 2.8% in 24 hours, reaching $63,890.
Goldman Sachs increased its 2024 China growth target to 4.9%. This new estimate is slightly below the Chinese government’s target of around 5%. The revision follows recent economic stimulus measures announced by Chinese authorities. Policymakers are focusing more on improving economic conditions.
The US dollar continues to increase in value. This upward trend started at the end of last month. It has reached its highest level in nearly two months.
ECB Rate Cut: The European Central Bank is anticipated to implement its first consecutive rate cut on Thursday. CPI Data Releases: Consumer Price Index (CPI) data will be released in Canada, China, Japan, New Zealand, and the UK. Economic Indicators: China's GDP and US retail sales figures are
Dallas Fed Member Lori Logan stated that a less tight monetary policy will help alleviate inflationary pressures. Recent consumer price inflation data for September showed an annual rate of 2.4%, slightly above the expected 2.3%. The core inflation rate (excluding food and energy) rose to 3.3%, higher
The currency market is awaiting important data releases that could significantly affect currency movements. The British Pound, Euro, and Canadian Dollar are expected to be notably impacted. European interest rate decisions will be a focal point for market reactions. Labor market data will also be closely watched alongside inflation figures.
Bitcoin (BTC) extended its decline for the second week, falling over 6% at one point due to rejection from a key resistance level. US spot Bitcoin ETFs saw $103.5 million in inflows through Thursday, providing some support. On-chain data indicates signs of optimism for Bitcoin's long-term prospects.
Last week, the U.S. dollar regained some ground after months of consecutive declines, primarily driven by increased demand for the safe-heaven currency as the conflict in the Middle East intensified. RBNZ POISED FOR A 50BPS RATE CUT : The Reserve Bank of New Zealand started its easing cycle in August
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Gold prices are consolidating around $2,660, holding gains below the record high. Traders are considering geopolitical risks related to Israel and Iran. The U.S. dollar is pausing its recovery amid changing market risks. The daily technical indicators suggest a favorable outlook for gold buyers, with the RSI in
The Australian dollar (AUD) fell below the 0.68 level during the trading week. Continued negativity is expected in the AUD/USD market. The market's performance is heavily influenced by risk appetite and recent strong US jobs data, which favors the US dollar.
Bitcoin had a strong rise in September but ended the month with a notable drop. The price fell below $65,000, which lowered the positive outlook many had earlier in the month. September is usually one of the best months for Bitcoin returns, but this time it didn't