Quiet markets await tomorrow’s US CPI data which may indicate whether inflationary pressures have peaked.
BTC/USD is continuing its recent slow but firm rise, being held by a bullish price channel. Yesterday it made a new price high for August.There are concerns over global economic growth with some analysts suggesting that planned rate hikes will need to be exceeded, which will cause a stronger downturn in global GDP.Daily new coronavirus cases globally dropped last week for the third consecutive week, reversing the earlier trend of an increasing number of confirmed cases.It is estimated that 67.2% of the world’s population has received at least one dose of a coronavirus vaccination, while approximately 7.5% of the global population is confirmed to have contracted the virus at some time, although the true number is highly likely to be much larger. Total confirmed new coronavirus cases worldwide stand at over 590.3 million with an average case fatality rate of 1.09%. The rate of new coronavirus infections appears to now be most significantly increasing in Barbados, Chile, Japan, South Korea, and Serbia.
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