Former President Donald Trump is set to speak at the Bitcoin 2024 conference in Nashville in late July, marking his first appearance at a cryptocurrency event. This news comes amid growing interest and investment in digital currencies, with Bitcoin hitting new highs and garnering mainstream attention. Trump’s participation in the conference is expected to bring further awareness to the cryptocurrency space and potentially influence market trends.
The Bank of Korea made headlines by dropping the phrase “upside risks to inflation forecasts have increased” from its statement, sparking speculation of a potential rate cut in the near future. While the central bank decided to keep its benchmark rate unchanged at 3.5%, the removal of this language has heightened expectations for a rate cut between August and October. This development underscores the delicate balance central banks must strike in managing inflation and economic growth.
As focus shifted to the upcoming US CPI data release, major FX markets saw limited movement with a slight weakness in the US dollar. The anticipation of the CPI report, scheduled for later in the day, kept traders on edge as they prepared for potential surprises in the data. Additionally, US President Biden’s press conference following the NATO meeting was poised to inject fresh political drama into the markets. Overall, the intersection of economic data, central bank decisions, and political events created a dynamic landscape for investors and traders to navigate.
