Keep an eye on US inflation data
The United States will publish CPI and core CPI on September 11, at 15:30 MT time.
Bitcoin heads north above $3,500
On Tuesday, crypto assets managed to leap due to the fact that Bitcoin inched up to $3,500, still demonstrating an enormous gap between last year’s mind-blowing reading of $20,000.
Eventually, Bitcoin shot up by up to 3.5% demonstrating $3,539.60 on the Investing.com Index.
Bitcoin is still down almost 75% since its all-time maximum of 2017. Crypto assets have slumped drastically for recent weeks because investors are concerned about increased regulatory scrutiny as well as volatility.
In general, digital coins surged. The overall cryptocurrency market capitalization amounted to $112 billion at the time of writing, versus Monday’s outcome of $108 billion.
Besides this, Ethereum managed to gain about 5% ending up with $94.66. Litecoin was worth $29.20, jumping by up to 3.9%. Additionally, XRP ascended by up to 12% trading at $0.33607.
Notwithstanding a long-term dive in crypto assets, blockchain is still thriving. Accordingly, job opportunities in the sector keep booming. Compared with 2017, up to 33% more jobs have been posted this year.
As the report states, it’s no wonder that we’re observing an explosion of machine learning roles as well as continuing surge of data science roles. There’s nothing surprising in the fact that Blockchain Developer is topping the list after this year’s leap in interest around blockchain and digital coins.
Meanwhile, China is working on its own crypto asset. Since 2016, China’s main financial institution has officially registered up to 78 virtual currency patents, as Bloomberg informed. The major bank of this Asian country has also been hiring economists and developers for its Digital Currency Institute that was established to issue a blockchain-based asset. The Chinese cabinet is also eager to not only monitor transactions of its citizens, but it also makes financial institutions share data on their borrowers before authorizing any transactions.
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Canadian GDP: the end of loonie’s consolidation?
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
Will the US economy help the greenback?
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
Latest news
US stimulus package improved sentiment
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!
The US weekly labor data is out!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.
Main market news on September 23
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.
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