Bitcoin could fall below key lines, bitter fruits of US inflation could hit the world

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01 US Securities and Exchange Commission: More legal requirements in the crypto industry

U.S. Securities and Exchange Commission (SEC) Chairman Gensler told the Aspen Security Forum on August 3 that the SEC should give Congress more powers to oversee the growth and growth of crypto -coins.

Regarding cryptocurrencies, Gensler said, “We need more congressional approvals to ensure that crypto assets don't fall into disarray. We also need more help to protect investors. of this industry. ”The SEC is studying at least seven key cryptocurrency entities to explore policy changes, including the initial token release, venues, lending, and distribution. Based on ETFs and other token funds.

02 New Zealand's interest rate hike should start honestly

New Zealand unemployment fell more than expected in the second quarter and wages rose. The New Zealand dollar rose as traders expected to rise with only two weeks remaining.

The stock report actually announces that the economy is over and the Bank of New Zealand may start raising prices to keep pace. Traders have also increased their bets on price increases. The market is now expressing hope that the next policy move will raise prices by 25 principles on August 18, with at least one rate hike before the end of the year. . Economists from ASB Bank and Bank of New Zealand said they now expected a triple rate hike this year, taking the exchange rate to 1%.

03LaVorgna: Fed hikes rates until after 2024 election

Joseph LaVorgna, the US financial adviser to the French Foreign Trade Bank, said in an interview on August 4: “This rarely happens in the medium term because the final rate cut until the first rate hike is seven years. .

Some economists expect the Fed to act as early as next month as a special adviser to the US Economic Committee and financial adviser to former President Trump, a financial industry and marketing specialist. Lavonia said the Fed needs to be more careful.

04 Standard & Poor's, all-time record

US stocks traded lower on Monday as the S&P 500 gained 35.99 points, or 0.82%, to close at 4,423.15 points, a new all-time high. Randy Frederick, director of marketing and business administration at the Charles Schwab Financial Research Center, said he expects the stock to rise today after the stock market has risen since last spring.

"We all know the gauge was pretty good. The S&P 500 was up almost 100% from its March low last year. So the market is now a little less stressed by all the news. A bit of “must dominate” volatility.

05 Goldman Sachs: Fed time to focus again.

The July Federal Open Market Committee (FOMC) meeting concluded. Fed Chairman Powell assured the company that there would be no immediate change in monthly real estate purchases.

As the size of incremental purchases slowly shrink, Goldman Sachs announced that the Fed will announce a cut in initial FOMC purchases in September. Reduce monthly purchases by $ 120 billion at the December meeting. . Speaking of falling prices, Goldman Sachs expects the Fed to cut $ 10 billion in Treasury bonds and $ 5 billion in MBS with each meeting starting in 2022. Goldman Sachs said investors can see that the Fed's first strategy is to cut purchasing costs as a sign that interest rates are starting to rise.

06 Bitcoin May Fall Below Key Lines

Bitcoin gives away a portion of its earnings as it wraps up its most successful quarterly quarter. Experts say Bitcoin could fall below key corridors that often point to further weakness.

Bitcoin has fallen again from its recent high last week and has fallen 7% since July 20, bringing the value of Bitcoin below $ 40,000. JJ Kinahan, Chief Marketing Officer of TD Ameritrade, said in an interview: "

07 The bitter fruits of US inflation hit the world

Russian President Vladimir Putin told a recent conference on the Russian economy that the United States will exploit all printers in U.S. dollars if an attempt is made to protect its commercial economy. As a result, the world is now tasting the bitterness that America has brought.

Regarding US repression and export trade, some Russian experts believe that the US is considering further inflation and continues to "mess around", control financial shortfalls and set in motion major financial problems . The danger is, from a financial point of view, that the whole world is in one boat.

08 Germany's gross domestic product (GDP) steadily increased in the first half of the year

According to public data from the Federal Labor Office, the German economy grew 9.6% in the second quarter of this year, the fastest growing in Germany in the past ten years. In particular, the German product market continued to expand for several consecutive months.

In the first half of 2021, the nominal GDP of the German community as a whole rose to € 1,706.68 billion. Despite the slowdown in the first quarter, real growth was only 2.7%. However, thanks to the appreciation and strengthening of the euro, Germany's GDP rose to $ 2.571.4 billion, the first time in German history to exceed $ 2 trillion. dollars in the first half of the year.