Weekly Cryptonews
The first part of the week was more than optimistic for Bitcoin. However, now it is going through the correction phase.
American economy will keep soaring notwithstanding worries about Trump’s trade policy
Active lending to companies, soaring consumer spending along with the improving labor market – all of this indicate that the US economy will keep surging, with the only negative factor being the risk of a trade conflict, as the Federal Reserve informed on Wednesday.
As follows from the Fed's Beige Book, a study of economic conditions in up to 12 American regions, the overall outlook for companies is still positive, although many experts are concerned about the duties proposed by the Trump administration.
Participants in various sectors, including manufacturing, agriculture as well as transport, expressed worries as for recently introduced or proposed fees, as follows from the US Central Bank report.
However, without taking this factor into consideration, the American economy seems to keep expanding, with signs indicating that the tax reform approved in December could start affecting company spending and investment.
Several regions reported a steep soar in lending to commercial companies as well as industries.
Considerably accelerated growth in lending was closely watched in the commercial sector, industrial sectors as well as real estate sales, as the Federal Reserve Bank of Dallas informed.
Active surge of enterprise lending might be a harbinger of the investment boom, which, as the Fed officials suggest, will be the outcome of a considerable reduction in corporate tax.
This factor will probably back the opinion of most Fed officials that the regulator will have the rate lifted at least two, and perhaps even three times before the end of 2018. The key US bank lifted its rate following the outcomes of the March gathering, although the market doesn’t expect that the regulator will again make up its mind to tighten the policy at a gathering, which will take place in approximately two weeks.
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RBNZ Meeting
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.
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