Weekly Cryptonews
The first part of the week was more than optimistic for Bitcoin. However, now it is going through the correction phase.
US CPI & Retail Sales
| American CPI and retail sales figures will come out at 15:30 MT time on January 12. |
| US Federal Reserve said in December that it expected to raise interest rates 3 times in 2018. Whether the Fed will be able to stick to this plan will depend, to a large extent, on US CPI figures. CPI stands for consumer price index. Headline CPI firmed, as expected, by 0.4% in November helped by higher energy prices. However, core CPI, which doesn’t contain food and energy prices, added only 0.1% and came below the forecast. As a result, to buy the USD on the release this time we will need good increases in both inflation indexes. Otherwise, the greenback will decline. |
| Retail sales reading will come out simultaneously with inflation. We will see how many purchases Americans made before Christmas. This is an important indicator of the US economic health. |
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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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