With a relatively quiet economic calendar, investors are already looking ahead to next week’s potential market-moving events. All eyes are on the US inflation data on Tuesday and the Fed decision on Wednesday.
These events could set the tone for the rest of the summer, and investors are eager to see if the US can replicate the rare inflation treat seen in the Eurozone.
While oil prices have been volatile, the Saudi production cut has had little impact on the eventual price, causing some members to question the unity within the group.
As for gold, traders are consolidating ahead of the Fed decision, with the CPI numbers on Tuesday possibly determining whether the central bank will pause or push through with a rate hike.
While Bitcoin prices have held up well amidst a tumultuous week for crypto, the outlook remains uncertain. Traders are keeping a cool head for now, but things may change depending on how the SEC and crypto exchanges handle the situation.
Stay tuned for the latest updates.
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