Cryptocurrencies News

U.S. residential construction slows in July 2024 with permits and starts declining. Rising rates and uncertainty suggest bearish housing market trends.

U.S. retail sales jumped 1% in July, hitting $709.7B and exceeding expectations. Strong consumer demand boosts economic confidence amid easing inflation.

July 2024 inflation rises to 2.3% year-over-year. Energy prices surge, with gas up 11.4%. Service sector inflation slows, as transport and communication prices drop.

Core PPI, excluding food, energy, and trade services, advances 0.3% in July, outpacing June’s 0.1% increase and hinting at stronger inflationary pressures.

As price pressures ease, a crucial question looms: Is inflation fading away, or just catching its breath? The CPI report holds the answer.

The crypto market cap was up 3.65% for the current week, with easing fears of a US recession driving buyer demand for riskier assets, including crypto.

Supply and demand trends impacted BTC and ETH, dragging the broader crypto market into negative territory as US recession fears intensified.

July jobs report shows unexpected slowdown in US labor market. Nonfarm payrolls miss estimates, unemployment rises to 4.3%. Implications for Fed policy and markets.

By maintaining rates now while hinting at future cuts, the Fed can demonstrate its commitment to price stability while preparing markets for a shift in policy.

ADP Report shows large establishments added 62,000 jobs while small businesses lost 7,000, signaling potential economic shift.

Eurostat’s flash estimate reveals inflation uptick to 2.6% in July, surpassing June’s 2.5% and analysts’ predictions. ECB policymakers face mounting pressure.

US politics could dictate near-term trends for BTC and the broader crypto market on Saturday, with Trump attending Bitcoin 2024.

Fed’s key inflation gauge aligns with expectations. PCE index rose 2.5% YoY in June, hinting at potential September rate cut. Market outlook cautiously optimistic.

GDP growth and labor market show resilience. Mixed durable goods and rising jobless claims average require ongoing scrutiny.

Unexpected strength in permits and starts, plus surging completions, show housing market resilience despite high interest rates

June’s stable retail sales and strong e-commerce and food service performance hint at a cautiously bullish outlook for consumer-related stocks.

The steady decline in Empire State business activity, continued job contraction, and modest price increases suggest a bearish short-term outlook.

PPI rise signals persistent inflation, potentially delaying Fed rate cuts as policymakers maintain caution in the near-term economic climate.

Inflation Rate Declines in June The monthly inflation rate in the United States dipped in June, offering the Federal Reserve more room to potentially lower interest rates later this year. The consumer price index (CPI), a key indicator of the costs of goods and services, decreased by 0.1% from May.

Powell’s testimony may leave markets in a holding pattern, stressing patience in monetary policy as the Fed seeks more economic data to guide choices.