Dollar Doldrums: Global Markets Brace for Key Economic Events
The U.S. dollar weakened as global markets awaited crucial events, including U.S. CPI data and U.S.-China trade talks. Bitcoin surged due to a presidential order affecting crypto in retirement accounts. Investors anticipate an extension of trade negotiations, while Nvidia faces scrutiny over China security concerns.
The U.S. dollar sustained its decline as investors prepared for significant events this week, such as the anticipated U.S. CPI data and the deadline for U.S.-China trade negotiations. Additionally, the upcoming Russia-U.S. summit added to the market's anxiety about potential volatilities.
In the cryptocurrency market, Bitcoin experienced a 3% increase, driven by President Trump's executive order allowing cryptocurrency holdings in U.S. retirement accounts. Meanwhile, Ethereum also saw gains, hitting its highest point since December 2021.
As trade talks between the U.S. and China progressed, discussions around semiconductor export licenses to China were in focus. The U.S. government potentially securing a percentage of sales revenue reflects ongoing efforts to stabilize trade tensions.
(With inputs from agencies.)
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