The first part of the week was more than optimistic for Bitcoin. However, now it is going through the correction phase.
Donald Trump criticizes Fed on rate lifts once again
On Tuesday, American leader repeated that the key US financial institution was lifting interest rates too rapidly and added that American companies turned out to be the greatest around the globe and presented a mind-blowing buying opportunity for investors.
For recent weeks American equities have gone down abruptly on fears over weaker economic surge. American leader has mostly laid the blame for economic headwinds on the US major bank, heavily criticizing its governor, Jerome Powell, whom, in fact, he appointed.
According to media reports, US leader has gone as far as discussing sacking Jerome Powell, and in August he informed Reuters that he was absolutely dissatisfied with the Fed Chair.
On Monday, American leader told that the Federal Reserve appears to be the only problem of the American economy.
As a matter of fact, on the day all three key American stock indexes concluded down over 2% before the Christmas holiday. Besides this, the S&P 500 has inched down by nearly 19.8% from its September 20 closing maximum, just shy of the 20% threshold that commonly defines a descending market.
The previous week the Federal Reserve dared to have its interest rates lifted once again. This move of the US major bank had been generally anticipated.
On Monday, Treasury Secretary Steven hosted a call with Trump’s Working Group on Financial Markets. The given body is generally known as the "Plunge Protection team," and as a rule, it convenes during times of tremendous market volatility.
However, the call did more to affect financial markets than to soothe them. Watchdogs on the call told that they were not observing anything out of the ordinary in financial markets in the latest selloff. That’s what follows from to two sources already familiar with the matter.
On Wednesday, China posted shockingly weaker surge in retail sales as well as industrial output for April, thus increasing pressure on the Chinese cabinet to roll out more stimulus because the trade conflict with America escalates…
In April, American import prices surged less than anticipated in April due to the fact that jumps in the cost of food and petroleum were tamed by the largest tumble in the price of capital goods for a decade, dropping a hint at the fact that inflation…
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.