International Economic
Bitcoin faces $25,000 and Ethereum awaits key decision about 'The Merge'
The cryptocurrency market holds much of Wednesday's gains for the major tokens, in the heat of softer inflation in the US - 8. 5% versus 9. 1% previously - which boosted Bitcoin and Ethereum prices more than 4%. Gains are 7% for BTC in 24 hours and 12% for ETH, while total capitalization exceeds $1. 16 trillion.
Minneapolis and Chicago Fed bosses sound hawkish note despite July CPI data
Two top US central bank official sounded a hawkish note on the outlook for monetary policy despite data published earlier the same day that some hoped showed that consumer price inflation had peaked.
US inflation slows to 8.5% in July
US inflation slowed more than expected in July, according to the Bureau of Labor Statistics, advancing at an 8. 5% clip in July, down from June's 40-year high of 9. 1%.
Bitcoin and cryptos fall after Coinbase's billion-dollar loss
Bitcoin, and the cryptocurrency market in general, are in the red on Wednesday after around $3 billion evaporated from the market in 24 hours during the wake of negative results from Coinbase. The top cryptocurrency by market cap is trading on the edge of $23,000, down 3% from Tuesday, while other tokens have even lost 5% in the past 24 hours. The total market value lost $1. 1 trillion.
German inflation falls slightly in July
German inflation fell slightly in July to 7. 5%, confirming initial estimates, according to official data released on Wednesday.
China CPI hits two-year high on rising pork prices
Inflation in China hit a two-year high in July, driven by surging pork prices, according to official data released Wednesday.
Russian oil flows to Central Europe halted due to payment problems
Ukraine halted the flow of Russian oil to southern Europe in early August due to the inability to process oil transit fees as a result of sanctions.
US labour productivity and unit labour costs improve less than expected in Q2
US non-farm labour productivity and unit labour costs improved by less than expected during the second quarter.
Bitcoin price stable around $23,000, despite news of Tornado Cash penalties
Bitcoin´s price has been stable and consolidating between $22,500 and $24,500 for a few weeks now and seems to be undeterred by the negative news that continues to trickle into crypto space and the actions of global regulators, particularly in the US, where authorities are tightening their grip on companies offering cryptocurrency-related services. On Monday, in particular, actions were taken against the cryptocurrency 'mixer', Tornado Cash.
US non-farm payrolls jump past forecasts in July
The US economy created far more jobs than expected last month pushing the unemployment rate a tad lower.
Risk/reward for equities 'not all bad' heading into year-end, says JPMorgan
JPMorgan Cazenove said on Monday that the risk/reward for equities is "not all bad" as we head into year-end.
China's trade surplus hits record high in July
China's trade surplus hit a record high in July, providing the world's second-largest economy with some much needed support.
Analyst expects more negative news for cryptos and more suffering for crypto related projects
Bitcoin embarked on a consolidation around $22,000 - $23,000 since a couple of weeks ago and has relaxed the mood of investors to such an extent that it invites confidence and the belief that the worst is behind us. The wave of bankruptcies in May and June went down in history as the 'Lehman moment' of the cryptoasset market, although experts warn that no one is safe in a sector completely exposed to economic ups and downs, as they are not few.
Fed's Daly, Bowman see need for more rate hikes, stress data-dependency
A top Federal Reserve official said that the US central bank was "far from done yet" when it came to lowering inflation.
Citi sees Fed 2023 pivot, stays cautious on risk, long duration and US dollar
A so-called 'pivot' by the US central bank was likely, argued strategists at Citi, but company earnings growth remained a risk, prompting them to stay "cautious" on risk, long on duration and the US dollar.
BofA strategists still see end game for S&P 500 below 3,600, US dollar as 'great short' of 2023
Equity strategists at BofA Securities recommended clients "short" the S&P 500 on moves above 4,342. 0, where the index's 200-day moving average was to be found and to fade it above 4,200 points.
What does the bill proposed by the US Senate mean for Bitcoin and cryptos?
The crypto market has remained flat over the past few days, as Bitcoin ranges between $22,700 and $23,400. There is some renewed optimism however surrounding regulation. On Wednesday, a bipartisan group of senators put forward a new bill that classifies Bitcoin and Ethereum as commodities. If this passes it would mean that these are the only cryptos that are not able to be classified as securities, which would remove a significant concern for side-lined institutions.
US foreign trade deficit falls a bit more than expected in June
America's shortfall on trade with the rest of the world in goods and services shrank a bit more than expected in June amid a sharp jump in exports.
US initial claims come in higher than expected
Americans filed first-time jobless claims at an accelerated week-on-week clip in the seven days ended 30 July.
Bitcoin flirts with the 200-session moving average despite hacks
During the last few sessions, Bitcoin fluctuated at around $23,000, moving in a narrow range between $22,600 and $23,500, in round numbers. Trading in the rest of the cryptographic tokens is similar, with slight movements for Ether and other 'altcoins', while the total capitalization not able to consolidate the $1,1 trillion. All in all, this behavior is a sign of strength, experts believe, given the recent negative news that is once again shaking digital tokens.