The top priority for all Central Banks’ is to bring down inflation.
The European Central Bank will hold its annual retreat in Portugal, where President Christine Lagarde, along with Federal Reserve Chair Jerome Powell and Bank of England Governor Andrew Bailey will appear at a panel discussion on Wednesday.
The first half of what has been an exceptionally turbulent year in markets is ending, with investors wondering whether the next six months could bring some respite or more volatility. The economic calendar features the PCE price index – an inflation gauge watched by the Fed – along with the latest inflation data out of the Eurozone and Chinese PMIs.
With investor expectations fluctuating between continued high inflation and an economic downturn caused by a hawkish Fed, few believe the market’s volatility will subside anytime soon.
Inflation is still rising and that means the Fed will hike more and move more rapidly, which will put downward pressure on the economy, and this will add to recession fears.
In other news, Bitcoin (BTC) has seen a modest recovery but some altcoins have risen sharply in the past week. This suggests that investors are taking advantage of the sharp fall in the price to accumulate altcoins at lower levels.
Analysts anticipated that Bitcoin would dip below $20,000 during the weekend in its ongoing tango with forces pushing it above and pulling it under this threshold. Such volatility is likely to continue and could present an exciting trading opportunity.
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