Weekly Cryptonews
The first part of the week was more than optimistic for Bitcoin. However, now it is going through the correction phase.
American GDP and its impact on the USD
The USD has recently been ahead of other currencies. The main reason behind its strength was that the strength of the American economy in comparison with the economies of other advanced nations.
To continue its advance, the greenback needs more positive figures. That’s why traders will pay special attention to the key economic indicator called GDP. The second release this indicator for the months of April-June will take place at 15:30 MT time on August 29. The initial figures showed that the US economy had risen by 4.1%. That was a bit lower than the forecast number of 4.2%. Notice that this indicator often gets revised.
• If GDP growth is revised up, the USD will gain.
• If GDP growth is revised down, the USD will fall.
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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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