Bitcoin Recovers After Initial Drop Following Fed Chair's Inflation Remarks
Bitcoin dropped to $78,630 then recovered to $79,474 after Fed Chair Warsh's inflation comments.
Bitcoin dropped to $78,630 then recovered to $79,474 after Fed Chair Warsh's inflation comments.
The US dollar rose after Fed Chair Warsh's hawkish remarks; market sees 46% chance of September rate hike.
The dollar rose after Warsh's hawkish comments raised September rate hike odds to 57%, pushing the euro lower.
Fed's Warsh says inflation data is more concerning, signals possible rate hike.
The University of Michigan's final August consumer sentiment index rose to 51.7, beating the initial estimate of 51.0.
Currency pairs near technical levels ahead of Fed Chair Warsh's speech; yields edge higher.
Hammack repeats call for rate hikes as inflation stays near 3% and financial conditions seen as not restrictive.
Canada's second-quarter GDP grew at a 3.3% annualized rate, below expectations of 3.4%. June monthly GDP rose 0.3%.
US dollar edges higher in tight ranges ahead of Fed Chair Warsh's Jackson Hole speech and key data releases.
Markets were quiet as traders awaited Fed Chair Warsh's Jackson Hole speech. European stocks edged higher, while currencies and gold were little changed.
Gold miners have climbed 43% in August, a record monthly performance, while the debasement trade lifts gold, copper and Bitcoin.
Market rate expectations for RBA and BoC adjusted after Australian CPI beat and US-Canada trade conflict; focus turns to Fed Chair Warsh's speech.
Kevin Warsh delivers his first Jackson Hole speech as Fed chair, with markets split on a September rate hike.
Eurozone economic sentiment continued its recovery in August, with confidence improving across sectors, though consumer inflation expectations edged higher.
German unemployment rose by 4,000 in August, less than the expected 5,000, while the jobless rate held at 6.4%.