Standard Chartered Bank Reiterates Bullish Bitcoin Price Target of $200,000, Concerns About Federal Reserve Independence to Fuel Upside

April 23rd - As per The Washington Post, the United States has put forward a proposal to recognize Crimea as being a part of Russia against the backdrop of the accelerating peace talks and with the aim of eventually lifting sanctions on Russia in a future agreement.

On April 23rd, the White House Press Secretary Levitt declared that Trump holds the view that the Fed's actions are politically driven. The White House indicated that Trump desires for the US dollar to continuously preserve its status as the world's reserve currency.

On April 23rd, the White House made an announcement. It was stated that 18 written trade agreement proposals had been received. Additionally, the trade team is scheduled to meet with 34 countries this week. It was further mentioned that the potential trade agreement with China is progressing in a very smooth manner. White House Press Secretary Levitt expressed that the situation regarding China is moving in the right direction.

On April 23rd. Based on the information from those who participated in a J.P. Morgan event, U.S. Treasury Secretary Yellen stated that the trade negotiations with China "will be a difficult battle." She characterized the current bilateral trade situation as similar to a "sanction," and emphasized that the negotiation goal is not to decouple the Chinese and American economies.

On April 23rd, the White House is scheduled to reach a comprehensive agreement with Japan and India in order to avoid large-scale tariffs imposed by the United States. However, many tricky details may be left for later discussions. In the absence of a comprehensive trade agreement, government officials are working on signing a so-called "memorandum of understanding" or a broad "framework" for future agreements. One insider stated, "Finalizing the agreement may take several months because these matters are extremely complicated." It is currently uncertain to what extent announcing the future agreement framework will pacify the market and avoid a political backlash against the ongoing economic turmoil. Another source said, "I wouldn't even refer to them as agreements. Basically, it's an agreement to agree that we hope to discuss an agreement. They will begin to roll out a series of things, but as long as something is signed to initiate negotiations." (FX Street)

On April 23rd, spot gold continued to decline and dropped below $3380 per ounce. It decreased by 1.31% on that day after previously rising by more than 2%. (FX678)