Cryptocurrency
US Treasury Secretary Janet Yellen said that she regretted the statement she made in 2021 that “inflation is temporary.”
While the average interest rate for a 30-year mortgage (home loan) in the USA decreased to 6.84 percent, mortgage applications increased by 7.1 percent. Applications to purchase housing decreased by 11 percent on an annual basis.
In today’s currency market, the US dollar showed little movement as investors await the release of additional economic data from the US to gauge the potential direction of Federal Reserve policy.
Tesla shares fell 2 percent after Wells Fargo downgraded the company.
JPMorgan’s Head of Global Commodity Research expects the gold price to reach $2,500 this year.
Bitcoin renewed its record by rising to 73 thousand 664 dollars. Thus, bitcoin broke a record for the 4th time in 6 days. Inflows into spot bitcoin ETFs triggered a rise in bitcoin.
The US Energy Information Administration (EIA) revised its oil price forecast upwards for this year, citing the decline in global oil stocks. The average barrel price of Brent type crude oil is expected to be around 87 dollars this year. This figure was estimated as $82.42 in the previous report.
Oil prices rose modestly in Asian trading on Thursday, boosted by a surprise drop in U.S. crude stockpiles and ongoing attacks on Russian oil refineries. Brent crude oil futures rose a slight 10 cents to $84.13 per barrel, while U.S. West Texas Intermediate (WTI) crude rose 7 cents to $79.79 per barrel.
Asian markets follow a limited course as the rise in Wall Street pauses; Indian inflation data was discussed.
Erich Arispe Morales, Senior Director and Turkey Analyst of the international credit rating agency Fitch Ratings, stated that the first goal of the authorities in Turkey is to reduce inflation and that they expect policy tightening consistent with reducing inflation to continue after the election.
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