4 Things That Could Move Crypto Markets in The Week Ahead
Main Idea
The article discusses key economic events and market movements, including the Federal Reserve's upcoming meeting, US trade deals with the EU and Japan, and cryptocurrency market performance.
Key Points
1. The Federal Reserve's two-day policy meeting on July 30 is a major focus, with expectations that the borrowing rate will remain steady at 4.25% to 4.50%.
2. US President Trump reached trade deals with the EU and Japan, including a 0% tariff agreement and commitments for the EU to buy US energy and automobiles.
3. Bitcoin recovered from a Friday slump, reaching $119,754 and nearing its all-time high, while Ethereum gained 3% to over $3,900.
4. Altcoins like Binance Coin (BNB), Bitcoin Cash (BCH), and Avalanche (AVAX) showed strong performance, with BNB hitting an all-time high of $850.
5. The Personal Consumption Expenditure (PCE) price index report is scheduled for August 1, providing insights into inflation trends.
Description
Crypto markets have started the new week in the green, and the momentum could continue as trade tensions ease. The big event for the week is the Federal Reserve meeting on July 30, when the latest interest rate decision will be made. Meanwhile, US President Trump has reached a deal with the European Union, which includes an agreement to open up trade at 0% tariff and for the EU to buy energy and automobiles from the US. This comes just days after a deal was reached with Japan, and US stock futur...
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