Pay attention to the news from the UK and Italy
Market updates on August 13
British average earnings index – 11:30 MT (8:30 GMT) time
US CPI and core CPI – 15:30 MT (12:30 GMT) time
- EUR/USD has continued to consolidate between the resistance levels at 1.1210-1.1223 and strong support at 1.1177. Today's release may bring volatility to the pair. If the USD gets stronger, the 1.1177 level may be broken and the next key level will be placed at the crossover of 50- and 100- period SMA at 1.1162. The next support will lie at 1.1147. Otherwise, if the pair manages to overcome the 1.1210-1.1223 range and sticks above the 200-period SMA, the next resistance will lie at 1.1240.
- GBP/USD rose yesterday, but the further upward movement was limited by the upper border of the descending formation at 1.2106. The key levels from the downside lie at 1.2015 and 1.1993. If the GBP is supported, the retest of the 1.2106 level will be possible. The next resistance for the cable lies at 1.2145.
- Gold inched higher on global tensions and uncertainties. The yellow metal has jumped above the $1,510 level and is moving up towards the $1,544 level. In case of softer risk sentiment, gold will slide back below the $1,510 level. The next support will lie at $1,495.
- Now let’s look at the emerging markets. During the Asian trading session, Singapore’s GDP growth for the second quarter fell by 3.3%. Despite that, the Monetary Authority of Singapore does not plan to change its schedule of meetings until October. As a result, USD/SGD broke to its highest levels since 2017. At the moment, the pair is testing the resistance at 1.3885. The next key level will lie at 1.3910. In case of a reversal, pay attention to the support levels at 1.3859 and 1.3844.
On Tuesday, crypto assets dived, with Bitcoin decreasing below the psychologically crucial $5,000 mark 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…
Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.