Weekly Cryptonews
The first part of the week was more than optimistic for Bitcoin. However, now it is going through the correction phase.
Japan's second quarter GDP is updated down on smaller capex profits
In the second quarter the Japanese economy ascended at a slower pace than initially assessed, on supposed downward revisions in capital spending surge, as a Reuters survey disclosed on Wednesday.
The world's number three economy is observed expanding at an annualized tempo of 2.9% in April-June, as the survey of 17 experts discovered that would be a considerable downward revision from the 4% surge observed in the preliminary data.
It would translate into 0.7% ascend from the previous quarter, updated down from an initial outcome of 1%, as the survey demonstrated.
Market participants expect the Japanese economy to keep reviving in July-September and even after.
Capital expenditure, a key component of GDP is supposed to have ascended 0.5% over the quarter, which is much slower compared to the 2.4% growth demonstrated in the preliminary data.
Japanese companies actually curbed their tempo of investment in plant as well as equipment in April-June, hinting the government might update down its initially upbeat estimate for economic surge in the second quarter.
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RBNZ Meeting
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.
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