Canadian GDP: the end of loonie’s consolidation?
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
Bitcoin revives having dived below $8,000
On Thursday, crypto assets went down in the face of ongoing bearish sentiment in the financial market.
Bitcoin inched down below $8,000 hitting a five-week minimum in early trade, although it has since revived to trade nearly flat.
Digital currencies have been affected by a sell-off in the crypto market, which started in the beginning of March. The previous week investor confidence was punctured by worries of regulation, huge sellers liquidating holdings in the market as well as gossips of another exchange hack.
Market participants were heavily affected by the latest blow delivered by the number one search engine. So, on Wednesday, Google made up its mind to have all crypto ads banned. The move undoubtedly hurt already fragile market sentiment. As a result, digital currencies found themselves in the red.
The CEO of crypto-expert PR company Ditto, Trey Ditto told on Wednesday that Google’s shocking decision to forbid crypto ads on its platform is similar to throwing the kid out with the bath water.
Ditto pointed out that they make use of Google and Facebook to educate users and potential investors as for a range of opportunities and topics. He added that he really worries that it painfully punishes the promising actors in this rapidly growing space and thus it will affect the investors and consumers who are hunting for information to make rational crypto investment decisions.
CEO of Apex Token Fund, Chris Keshian offered a more upbeat view on the subject. He told that banning happens to be a so-called 'pause' button because organizations look for better ways to regulate an asset class, which is still incomprehensible to them. He also told that he expects further bans, but there’s a likelihood that the clampdown is going to be lifted in the nearer future.
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The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
USD is waiting for the jobless claims!
The US unemployment claims are announced on Thursday at 15:30 MT time.
Latest news
Main market movements on August 11
The market sentiment improved after the USA reported some decreasing in coronavirus hospitalizations. Gold dropped below $2 000 and the US dollar dipped down, while stocks surged. Let’s have a closer look.
All attention to NZD
The RBNZ will make the monetary policy statement on August 12 at 5:00 MT time!
What drives the market on August 10?
The market has started the week with a mixed sentiment…
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