*Market Update: Tariffs and Cryptocurrency Trends*
The recent tariff deadline has passed, but uncertainty lingers in the market. US President Donald Trump has started notifying countries about tariff rates, with many nations engaged in tense negotiations. The August 1 implementation date is fast approaching.
*Cryptocurrency Market Trends*
Despite the uncertainty, cryptocurrencies have seen significant gains this week. Bitcoin has reached new historical highs, driven by increasing institutional investment. Other cryptocurrencies, like Ethereum, have also shown impressive growth, with Ethereum trading at $2,711.96 and a 3.60% increase in 24 hours ยน.
*Key Events to Watch Next Week*
Several key events will shape the market next week:
- *CPI Data Release*: The US will release its latest Consumer Price Index (CPI) data, influencing the Federal Reserve's decision on interest rate cuts.
- *Retail Sales Figures*: The "terror data" will provide insights into consumer spending and economic health.
- *Federal Reserve Speeches*: Several Fed officials will deliver speeches, including Boston Fed President Collins and Federal Reserve Governor Bowman.
- *Beige Book Release*: The Federal Reserve will release its Beige Book on economic conditions.
*Market Forecasts*
Market expectations suggest a rise in CPI data, with the annual rate increasing from 2.4% to 2.7% and the monthly rate rising from 0.1% to 0.3%. This could significantly impact the Federal Reserve's decision on interest rate cuts ยฒ.