U.S. stocks were mixed yesterday, and this week ushered in Super Central Bank Week. The central banks of the United States, Japan, and the United Kingdom will announce interest rate decisions one after another on Wednesday and Thursday. Republican presidential candidate Trump's remarks about embracing Bitcoin over the weekend stimulated the trend of Bitcoin. BTC briefly broke through the 70,000 mark yesterday, but then fell back and was trading at $66,888 at the time of writing. Ethereum was steady near 3,300.
Super central bank debuts this week
This week marks Super Central Bank Week, and the central banks of the United States, Japan, and the United Kingdom will announce interest rate decisions one after another on Wednesday and Thursday.
The U.S. Federal Reserve will announce its interest rate decision in the early morning of 8/1 Taiwan time. The market is generally expected to keep interest rates unchanged. However, Chairman Powell's post-meeting press conference is expected to provide clues about possible future interest rate cuts.
The Bank of Japan (BOJ) announced the end of negative interest rates in March this year, and announced at the June meeting that it would begin shrinking its balance sheet. Bank of Japan Governor Kazuo Ueda once said that if underlying inflation (taking into account CPI and broader price indicators) is as high as currently The expected acceleration toward 2% will raise interest rates, which are currently close to zero. The Bank of Japan held a policy meeting on Tuesday and Wednesday this year. There are currently two schools of thought in the market. One is to raise the benchmark interest rate by 10 points, but the scale of bond purchases will not decrease significantly; the other is to not raise interest rates, but significantly lower the bond purchases. The size of the debt, but no matter what it is, it is a message of monetary tightening.
(Japan is about to raise interest rates, and pension funds will shift from overseas to domestic. Will the era of cheap yen end?)
The Bank of England will also announce its interest rate policy on Thursday. The market has divided views on whether the Bank of England will cut interest rates for the first time after the epidemic.
Bitcoin once hit the 70,000 mark
At the Bitcoin 2024 Bitcoin Conference over the weekend, Republican presidential candidate Trump said many words to excite the cryptocurrency community and embrace Bitcoin from the government's perspective, which stimulated the trend of Bitcoin. BTC once broke through the 70,000 mark yesterday. , but then fell back to US$66,888 as of press time.
(Interpretation of Trump’s speech | The perfect combination of Bitcoin and political language, the intersection of the pain points of the currency circle and the glory of the United States)
Ethereum back to 3,300
Ethereum also returned to above 3,300 with the rise of Bitcoin yesterday. Although the Grayscale Ethereum spot ETF ETHE continued to suffer from selling pressure yesterday and saw an outflow of nearly US$210 million, ETH still remained above 3,300.
(Learn why ETHE is eager to sell?)
The top seven members of the U.S. stock market, Microsoft (MSFT), Apple (AAPL), Amazon (AMZN) and Meta (META), as well as the U.S. cryptocurrency exchange Coinbase (COIN) will also release their latest financial reports this week. Lian News will continue to follow the reports for you .
This article Super Central Bank Debuts Weekly, Trump Effect Bitcoin once broke through the 70,000 mark first appeared on Chain News ABMedia.
