Canada will announce its monthly GDP on July 31, at 15:30 MT time.
Bitcoin goes down after China bans ICOs
On Monday, Chinese regulators labeled initial coin offerings as illegal, thus sending a powerful blow to the latest financial-markets mania and suppressing the prices of the two major cryptocurrencies, bitcoin and ether.
China’s shocking move that included a call for fundraising activities through the digital tokens to stop right now, came after a fresh warning by the US Securities and Exchange Commission that it might consider the coins to be securities.
The regulatory maneuvering takes place because fears have surged as for initial coin offerings that have captured traders’ imagination.
China’s role in cryptocurrencies happens to be considerable, but it’s shifting. Last year, Chinese exchanges boasted more than 90% of the entire digital-currency trading. A bit earlier in 2017, China’s major financial institution got down to imposing regulations on the exchanges. As a result much of the volume shifted to South Korea and Japan.
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
The US unemployment claims are announced on Thursday at 15:30 MT time.
The market has started the week with a mixed sentiment…
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.