International Economic
Lockdowns dent Chinese retail sales
Retail sales in China continued to fall last month, data showed on Wednesday, as the effects of Beijing’s strict zero-Covid policy weighed on consumption.
US PPI increases 0.8% in May
Growth in the US producer price index increased as expected in May, according to figures released on Tuesday by the Bureau of Labor Statistics.
Rather than Celsius, this is the main cause for the plunge in Bitcoin's price
From 'Bolsamanía' we already warned people that after Bitcoin lost $30,000 in May, and due to the crisis of confidence unleashed by the collapse of Terra and its tokens, LUNA and UST, that Bitcoin and the market in general were exposed to further falls. Well, the case of cryptocurrency trading and lending platform Celsius Network, which has decided to suspend all withdrawals, exchanges and transfers between accounts as a result of "extreme conditions" in the market, has dealt another severe blow to the price and investor sentiment.
Record number of fund managers now expect slower growth globally, BofA says
A record proportion of fund managers globally now expect slower economic growth over the next 12 months, especially in Europe, although their expectations for China's economy brightened, the results of a closely-followed survey revealed.
Massacre in the cryptocurrency market puts $20,000 in sight for Bitcoin
The cryptocurrency market remains in the deepest red on Tuesday after a black weekly start for digital assets, which has seen Bitcoin overshoot its yearly lows and fall to price levels not reached since late 2020. The plunge in the last seven days for the quintessential digital currency is 25% - up 13% in 24 hours - and the total cryptocurrency market capitalization has fallen below $1 trillion for the first time since January 2021.
German ZEW improves in June but remains in negative territory
German investor sentiment improved in June but remained in negative territory, according to a survey released on Tuesday by the ZEW Center for European Economic Research in Mannheim.
German inflation hits 7.9% in April as energy, food prices surge
German consumer price inflation rose in May as energy and food prices surged, according to final figures released by Destatis on Tuesday.
Treasury market under selling pressure as traders mull need for 75 bp Fed rate hike
A wave of selling swept across government debt markets as economists and traders began to openly ponder the very real possibility that the US central bank's next move on interest rates, next 15 June, should be a 75 basis point hike and not 50bp.
US consumer confidence hits 40-year low in May, U.Michigan says
A key gauge of consumer confidence hit a more than 40-year low in early June, led by a deteriorating outlook for business conditions one-year ahead.
US CPI rises past forecasts in May, back at 40-year high
The cost-of-living in the US rose more quickly than expected last month amid broad-based gains by categories.
Bitcoin: "Every mini rally is met with a sharp and brutal drop"
The cryptocurrency market is living 'Groundhog Day' with no sign of change in terms of the price of the main tokens. Bitcoin continues to reach at $30,000 and the bearish continue to prevent further gains for the digital asset par excellence. The behavior of Ether is a carbon copy, while in the 'altcoins' there are some opportunities for Cardano, Sill or Polkadot, but little else can be said about a market that is "weak sad, beaten, bloodied, boring, painful and other depressing adjectives," as analyst Lark Davis, of the Wealth Mastery, stated.
Germany's central bank slashes economic growth forecasts
Germany’s central bank cut its economic growth forecasts for the country on Friday, as the war in Ukraine and red-hot inflation impacted the post-Covid recovery.
Consumer inflation unchanged in China, producer price growth slows
Consumer price inflation was unchanged in China in May, according to fresh official data released on Friday, while producer price growth slowed in line with expectations.
ECB boss queried on 'fragmentation' risks
European Central Bank boss was grilled by journalists about potential fragmentation risks in the euro area after the Governing Council announced its decision to stop asset purchases and to signal the start of an interest rate hiking cycle from July.
US initial jobless claims jump by more than expected during latest week
Jobless claims in the US rose by more than expected during the latest week, although the Memorial Day holiday may have been partially to blame.
ECB signals intention to hike rates by 25bp in July, possibly more in September
The European Central Bank announced that it will wrap up its asset purchases on 1 July and execute a first rate hike of 25 basis points that same month, followed by another - possibly larger - increase in September and with more to come thereafter.
Mario Draghi says euro area not overheating
Mario Draghi appeared to caution on Thursday against moving too quickly on tightening monetary policy.
Bitcoin: "High volatility but little direction" as it remains at $30,000
Thursday marks another day of range movement for Bitcoin, with an impossible ceiling at $30,000, forcing the digital asset to stay below this price, while the broader token market presents a carbon copy of Wednesday's trading day. Ethereum exhibits similar behavior, with clear support at $1,700. Total capitalization does not exceed $1. 24 trillion.
Chinese exports rise 16.9% in May, imports up 4.1%
Chinese exports rose 16. 9% year-on-year in May to hit $308. 25bn, according to the General Administration of Customs, beating analysts' expectations amid a relaxation in recent Covid-19 lockdown measures, while imports rose 4. 1% in dollar terms, the first expansion in three months, reaching $229. 49bn.
"Bitcoin miners are capitulating" and markets poised for more declines
Bitcoin returns on Wednesday to try to overcome the $30,000 level, after spending all Tuesday below this mark, as it was harshly rejected by the key level of $31,500. Experts are unanimous that the conquest of this level is essential for the digital currency par excellence to climb towards $35,000. As for the rest of the market, Ethereum once again tested $1,700, which is functioning as a market floor and the total capitalization sits above $1. 2 trillion.