Keep an eye on US inflation data
The United States will publish CPI and core CPI on September 11, at 15:30 MT time.
Crypto assets keep slumping
On Monday, crypto assets proceeded with their dive, with all key cryptocurrencies starting the trading week in the red because the disastrous September demonstrates no sign of receding.
The world’s number one crypto asset, Bitcoin retreated towards its year’s minimum, trading at $6,120.31, which is its lowest value for almost a month. During early morning trade, on the Kraken exchange, the currency pair BTC/USD showed $6,299.89, declining by 1.4% since Sunday.
The crypto market cap has lost almost $50 billion off the overall value of all digital currencies for less than five days. It gave one blogger grounds to talk about the integrity of the crypto market. Due to the fact that crypto assets are decentralized, anybody is capable of creating his own, and all types of outfits are currently mining fresh units of currently existing digital coins. Some experts even dared to label crypto assets as a “big joke” because a great number of people keep losing huge amounts expressed in fiat currencies normally hated by them.
On Saturday, the number two crypto asset, Ethereum, went down below $200 on Saturday. It turned out to be the first such a leap since September last year and made a fresh one-year minimum, reaching $185. As a matter of fact, the currency pair ETH/USD came up with a reading of $196.44, heading south by approximately 2.5%.
In addition to this, the losses kept mounting. The currency pair BCH/USD headed south by 2% trading at $478.60. Furthermore, the currency pair LTC/USD slumped by 3.4% at $54.20. The currency pair XRP/USD hit 27 cents, losing about 3.3%.
As for futures, they started the trading week on the back foot. Eventually, September delivery Cboe Global Markets Group Inc.’s contract XBTU8 went down by 2.1% being worth $6,270. At the same time, September delivery CME Group Inc. contract BTCU8 lost 2% reaching $6,260.
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US stimulus package improved sentiment
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
The US weekly labor data is out!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.
Main market news on September 23
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
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