Today in the world of finance, there are a few key updates to keep an eye on. Firstly, it has been announced that US President Trump will be speaking at the Bitcoin 2024 conference in Nashville later this month. This news has caused a stir in the market, with many wondering what impact Trump’s speech will have on the cryptocurrency world.
Additionally, the AUD/USD pair has hit a 6-month high, with the USD weakening across the board. This surge in the Australian dollar could have significant implications for traders and investors in the coming days.
In terms of upcoming data releases, there are ten investment bank forecasts for the June US CPI data, which is set to be released later today. These estimates are crucial to monitor, as they can have a significant impact on the market depending on whether they are met or not.
Furthermore, the Bank of Korea has made some interesting changes to its inflation forecasts, dropping the phrase ‘upside risks to inflation forecasts have increased’ from its statement. This alteration has led to speculation that a rate cut may be on the horizon for Korea, with many expecting a change in policy between August and October.
In Japan, core machinery orders have missed estimates for a rise in May, signaling potential economic challenges ahead. However, Federal Reserve Board Governor Lisa Cook remains optimistic, stating that a soft landing is more likely when policy easing begins with inflation close to target and a strong growth backdrop.
Looking ahead, all eyes are on the US CPI data set to be released today, as well as President Biden’s upcoming press conference. These events are sure to have a significant impact on the market and are worth paying close attention to.
Overall, the financial world is abuzz with activity and potential shifts in policy and economic indicators. It will be interesting to see how these events unfold and what impact they will have on traders and investors in the days and weeks to come.