#FederalReserve #Gold #bitcoin $BTC

Macro financial news update this week

This week, Fed Chairman Jerome Powell will deliver speeches discussing his views on the US economic situation

In the previous meeting, we all knew that the CPI index had exceeded expectations, but Fed officials were still quite hesitant, even some were still hawkish

Personally, I think that is their way of misleading public opinion, many regions in the European bloc have lowered interest rates and on CME everyone is expecting two interest rate cuts this year instead of one as Fed officials have announced. We now have PCE inflation results that reached the expected 2.6% last week compared to 2.7% last month. The PCE inflation indicator is down, which is a good sign for the next meeting on July 30 and we will have the results early on July 31. If the CPI consumer price index remains as good as expected, we will have more confidence in an early interest rate cut in September.

BTC price ended on the weekly and monthly frames above the 56-60k bottom. If BTC closes above the 64k zone this week, we will have a short-term price increase.

Everyone pay attention to take profit when the time comes because that is never wrong