Weekly Cryptonews
Cryptocurrencies are going down... What may signal a recovery?
Evergreen buck inches down
On Monday, the evergreen buck slips in Europe, although holding on to most of the profits made during Friday’s huge risk-off movement in global financial markets.
The weekend might have provided financial markets with the chance to decelerate and reflect on Friday’s events, although they have started in a negative mood once again. Additionally, bond yields and stock markets have gone down from Japan to Australia and Hong Kong because investors zero in on how 10-year Treasury gains dived below 3-month rates on Friday.
Besides this, volatility among developed market currencies kept to their limits. Eventually, the common currency demonstrated an outcome of $1.1309, diving by about 0.1%, while the UK pound showed $1.3186, decreasing a bit from overnight levels.
Gauging the US currency’s purchasing value versus its primary peers the USD index hit 96.097 - a level above it was before the Fed’s policy announcements the previous week.
As for Turkey’s lira, this currency was also demonstrating a mild rebound after its worst day since the previous year’s currency downtime, provoked by a dive in the major bank’s foreign exchange reserves and also made worse by President Recep Tayyip Erdogan’s rebuke of US leader’s call for international recognition of Israel’s control over the Golan Heights in Syria. As a matter of fact, the Turkish lira hit 5.6515 versus the evergreen buck, having dived from 5.8300 on Friday.
The first test of market sentiment of the week is due nearly instantly, as Germany’s Ifo business climate index is going to either corroborate the previous week’s shocking manufacturing poll from IHS Markit or providing some reassurance that things aren’t so bad. Evidently, the headline index is anticipated to rally mildly from its four-year minimum of 98.5 to 98.7 last month.
Similar
Jobs data for Australia may support the AUD
Australia will release the level of employment change and unemployment rate on August 15, at 4:30 MT time.
Wait for the inflation data for the US
The USA will release the levels of CPI and core CPI on August 13, at 15:30 MT time.
Latest news
Bitcoin dives 14%, slumping below $5,000
On Tuesday, crypto assets dived, with Bitcoin decreasing below the psychologically crucial $5,000 mark for the first time this year…
British inflation tacks on for the first time this year
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Market updates on June 18
Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.
Deposit with your local payment systems
