The United States will publish CPI and core CPI on September 11, at 15:30 MT time.
Bitcoin and Ethereum leap as cryptocurrencies shrug off weekend dip
On Monday, prices of Bitcoin and Ethereum stopped their recent dip, rebounding after facing heavy losses over the weekend on the back of concerns over a cryptocurrency bubble.
On the U.S.-based GDAX exchange Bitcoin showed $2,081.10, soaring 6.6%.
On Sunday, the cryptocurrency dipped approximately 13% from above $2,000 to $1,758.20. The given outcome hasn’t been observed since May 16. It’s because traders remained wary of initiating huge positions amid ascending worries over the future of the digital coin.
Bitcoin prices have gone down nearly 30% since reaching an all-time peak of $3,000 on June 11. Notwithstanding recent losses, it’s still up almost 62% since the beginning of 2017.
At the same time, Ethereum managed to rally 15.2%, hitting $179.64 during early trade. On Sunday, the cryptocurrency sagged 20%, hitting $130.26, which is its lowest outcome in more than a month.
The previous week Ethereum demonstrated its fourth weekly loss in a row amid worries that the cryptocurrency experiences a period of correction after getting to record peaks.
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.