$BTC 📚 Here are the latest economic developments today:
⬅️ Markets are staggering under the weight of America's debt crisis, after Moody's downgraded the credit rating, leading to a global loss of investor confidence.
⬅️ The US dollar has fallen to its lowest level in two weeks against the Japanese yen, amid rising caution and concern.
⬅️ All of this coincides with President Trump's bold plans to pass a massive spending bill and cut taxes, which adds to the uncertainty in the bond markets.
⬅️ On the other hand, the British pound continues to rise for the third day against the dollar, benefiting from the positive atmosphere surrounding the new agreement with the European Union.
⬅️ Markets are awaiting today the release of the Purchasing Managers' Index data for both the manufacturing and services sectors in the US at 4:45 PM Saudi time.
