The US Dollar has edged lower this morning ahead of what is a key inflation release for The US. With headline CPI forecast to pick up slightly in July to 3.3%, while the core rate which excludes volatile food and energy prices is forecast to climb 4.8% on a year-on-year basis.
Last week the main event was the BoE interest rate hike, where the Central Bank raised interest rates by 25bps- but kept the stance of more hikes COULD happen if inflation were to go higher again, and that rates will stay high for at least a couple of years before any cuts are considered.
Investing is a key part of getting rich and making sure you have money for the future. It is the process of allocating resources in a manner that generates income or profit with the expectation of long-term gains. The world of investing intimidates many people, but it doesn't have to be complicated.
With the latest stance from different central banks to slow down the tightening of monetary actions (pause or less interest rate hikes). There was no surprise yesterday when BoE raised interest rates by 25 basis points compared to its latest meeting in June of 50.
The markets have been very volatile over the past week with the main catalysts being the Fed and ECB interest rate decisions, both pushing rates up by 25 bps each, and the markets assuming that there will be a pause on rate hikes for the foreseeable future, when both Central Banks essentially stated that no further hikes were given and will be data-driven instead - over the last week we have seen the Dollar strengthen and the EURUSD price move from 1.12 down to 1.09 and GBPUSD from 1.2990 down to 1.27.d this week.
A week full of economic data with focus on Europe and the US, we end the week with further data for both areas. But first a recap of what unfolded this week.
The dollar extended losses today, a day after the Federal Reserve delivered what some expect to be its last rate hike, while the market's focus shifted across the Atlantic to the European Central Bank's impending rate announcement.
Crypto investment is one of the best ways to store your wealth and grow it. Right now, Bitcoin is among the most lucrative cryptocurrencies. If you check the recent history of Bitcoin, you will notice that various events have been pushing the value of the coin higher such as the launch of Bitcoin ETFs, widespread acceptance of Bitcoin among corporations and financial institutions, and others.
