Cryptocurrency
While the US dollar strengthened on Friday, preparing to break its three-week losing streak, this was also supported by concerns about US inflation data that exceeded expectations. The data influenced the market’s expectations for the Federal Reserve’s interest rate decisions for the remainder of the year.
According to Barclays strategists, if Donald Trump wins the US Presidential election, the dollar may rally by 3 percent.
JPMorgan Chase, one of the largest banks in the USA, was fined $348.2 million due to deficiencies in its commercial monitoring program.
Gold lost value as the Fed strengthened its warning about interest rate cuts after the US inflation data.
Bitcoin fell sharply, falling 4.6 percent, after breaking a record during the week, as interest in spot Bitcoin exchange-traded funds (ETFs) continued.
Oil remained at a four-month high after the International Energy Agency forecast a supply deficit by 2024, changing its previous surplus forecast on the assumption that OPEC+ will maintain production cuts.
Asian markets fell after the hot inflation report from the US.
China kept its medium-term lending rate unchanged for the seventh month.
Japan’s finance minister said the country is no longer in deflation and is seeing a strong wage growth trend.
Minister of Commerce Ömer Bolat met with Turkish business people and representatives of non-governmental organizations (NGOs) based in the United Kingdom.
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