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Dollar strength sent the US currency to a new 13-month high on Friday. The Federal Reserve policy stance and forex market trends pushed the US dollar index up 0.08% to 107.15, its highest since October 2023. The global economic outlook remains uncertain amid tensions and volatility. Source: investing.com Also Read: Russia Legalizes Crypto Mining: How It Helps Evade Sanctions How Dollar Strength Affects Forex Markets, Fed Policy, and Global Trends Fed Policy Expectations Drive Dollar Movement Source: FederalReserve.gov CME’s FedWatch Tool shows a 57.8% chance of a December 25-basis-point rate cut, down from 72.2% last week. The Federal Reserve policy has grown more hawkish as inflation persists. Next Friday’s U.S. PCE data will be key for monetary decisions. Source: FederalReserve.gov Global Currency Impacts and Trading Patterns Latest forex market trends show pressure on major currencies. The euro fell 0.05% to $1.0469, hitting a 13-month low. Sterling dropped to $1.25705, i...

BitMEX founder Arthur Hayes expects Bitcoin to be $750,000 by 2026. Here’s how and why. Love him or hate him, when Arthur Hayes speaks, people listen.  Last week, as a guest on Impact Theory with Tom Bilyeu, Hayes made the case for why he believes Bitcoin (BTC) price will hit $750,000 to $1 million by 2026. Hayes said, “I absolutely agree that there is going to be a major financial crisis, probably as bad or worse than the great depression, sometime near the end of the decade, before we get there we’re gonna have, I think, the largest bull market in stocks, real estate, crypto, art, you name it, that we’ve ever seen since WW2.” Hayes cites the nearly-predictable response of the United States government rushing in to intervene in every economic crisis with a bail out as a key catalyst behind the structural problems in the US economy. He explained that this essentially creates an endless cycle of central bank printing, which leads to inflation and prevents the economy from going throug...

Global investment bank Jefferies asserts Bitcoin (BTC) as a safeguard against currency devaluation and rising inflation . The price of Bitcoin hovers at around the $27,961 region as of press time.   Jefferies, a prominent global investment bank, advises long-term investors, particularly pension funds, to allocate 10% of their portfolios to Bitcoin, denominated in U.S. dollars.  The bank underscores the importance of considering investments in Bitcoin and gold as insurance measures rather than short-term trades. They highlighted that attempts to tighten monetary conditions will face extended delays in this economic cycle, attributing it to the substantial increase in the money supply since 2020. Christopher Wood, Jefferies’ Global Head of Equity Strategy, expresses concerns about the ability of G7 central banks, including the Federal Reserve, to transition away from unconventional monetary policies smoothly.  He suggests that these central banks will likely maint...

"Highly elevated" CPI numbers due in hours as one theory suggests that there is already no more room for Fed rate hikes. Bitcoin (BTC) rebounded from overnight lows on July 13 as Markets nervously waited for United States Inflation data. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Countdown to “highly elevated” inflation reveal Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing from $19,250 to $19,900 at the time of writing, up 3.3% on the day. With three hours to go until the release of Consumer Price Index (CPI) data for June, crypto markets showed little sign of advance volatility. Previously, the U.S. government had warned that the CPI figures were expected to be “highly elevated,” with unofficial projections from other sources indicating a year-on-year inflation increase of nearly 9%. NEW #inflation record high on the year! At least that's what I'm now forecasting for June CPI, released in 5 days I forecast 8.8% year over...

The U.S. Federal Reserve raised its benchmark federal funds rate by 0.25% on Wednesday after markets priced in near 100% certainty the Federal Open Market Committee (FOMC) would codify the quarter-point increase. The FOMC statement further detailed that ongoing rate increases are anticipated to bring inflation down to the target range of 2%. FOMC Outlines Expectations for Future Rate Hikes The central bank of the United States raised the federal funds rate on Wednesday, increasing it by 0.25% to the current range of 4.5% to 4.75%. The FOMC detailed in a statement that indicators show there has been “modest growth in spending and production” and job gains have been “robust in recent months.” However, the committee says that while inflation has dropped, it “remains elevated,” and it believes the conflict in Ukraine is “causing tremendous human and economic hardship.” “The committee seeks to achieve maximum employment and ...