Bitcoin sell-off deepens following a strong US inflation report that unsettles stocks and cryptocurrency.
Bitcoin’s Recent Drop and Market Insights Key Takeaways: Bitcoin’s price has dipped below $118,000, affected by unexpectedly high US Producer Price Index (PPI) data, raising inflation worries. The likelihood of a Federal Reserve interest rate cut has decreased from 99.8% to 90.5%. Short-term price corrections in Bitcoin signal potential opportunities for altcoins. Bitcoin (BTC) experienced […]
EUR/USD falls back as US dollar strengthens following July PPI inflation increase
The EUR/USD dropped to 1.1650, a decrease of 0.45% for the day, breaking a two-day upward trend. The US Dollar Index (DXY) has bounced back past the key level of 98.00 after reaching a two-week low. US PPI data reflects a significant rise in July, with both headline and core figures exceeding forecasts. On Thursday, […]
Worries about inflation resurface as July PPI rises beyond expectations
Wholesale Inflation Surges in July Wholesale inflation unexpectedly increased in July, raising concerns about inflationary pressures in the economy. The Bureau of Labor Statistics revealed a 0.9% rise in the Producer Price Index (PPI) from June, marking a 3.3% increase compared to last year. This surge surpassed economists’ expectations, who predicted a modest 0.2% monthly […]
Wholesale inflation greater than anticipated in July
Wholesale prices saw a surprising jump in July, rising at a pace that was much higher than anticipated. The producer price index (PPI), which tracks the prices of goods and services for final demand, climbed by 0.9% in July. This increase is the largest seen since June 2022, as reported by the Bureau of Labor […]
Leavitt demonstrates U.S. wage growth despite low, steady inflation: ‘Don’t listen to the alarmists and have faith in President Trump’
Leavitt Defends Trump’s Economic Management In a recent press conference, White House spokesperson Caroline Leavitt defended President Donald Trump’s handling of the economy, dismissing criticism she described as part of the “Panican.” This term, reportedly coined by Trump, refers to individuals he believes are overly anxious about new tariffs and their implications. During the briefing, […]
Inflation or recession? Regardless, Trump’s tariffs will create enduring damage.
President Trump’s recent tariff policies are likely to have lasting impacts on the nation. But just what kind of impact are we talking about? So far, these tariffs have contributed to an atmosphere of uncertainty, shaking up economies worldwide and influencing consumers and businesses alike. There’s a looming concern that these tariffs could, perhaps, increase […]
Indian Rupee stabilizes as easing inflation in India supports expectations for a rate cut by the RBI
Indian Rupee Gains Against the US Dollar Amid Fed Speculation The Indian rupee is making gains against the US dollar, influenced by expectations around the Federal Reserve’s dovish stance. In July, core inflation in the US rose to 3.1%, marking a faster increase. Conversely, India experienced its slowest retail inflation growth in eight years, settling […]
Australian Dollar falls as RBA rate cut indicates slowing inflation trends and weakening job market.
The Australian Dollar Remains Steady After Recent Gains The Australian Dollar holds its position after recently posting nearly 0.5%. As expected, Australia’s wage price index rose by 0.8% QOQ. The US consumer price index rose 2.7% year-on-year, while the annual CORE CPI rose 3.1% in July. The Australian Dollar (AUD) is unlikely to see much […]
Submitting your 2023 tax returns is essential for getting your inflation refund check.
New York State to Issue Inflation Refund Checks this October Rochester, New York – The New York State Department of Treasury is gearing up to distribute the state’s first inflation refund checks in mid-October. These one-time payments aim to assist New Yorkers who have been impacted by sales tax hikes due to inflation. The amount […]
White House Highlights Wages Surpassing Inflation: ‘Confidence in President Trump’
White House Press Chief Defends Economic Outlook On Tuesday, White House press secretary Caroline Leavitt defended President Donald Trump’s economic perspective amid concerns about the economy, asserting that wages have been outpacing inflation. Leavitt highlighted Trump’s optimism about the economy, referring to remarks made shortly following the July inflation report released seven months prior. “We […]