The US will reveal its Inflation Rate, while Apple will launch iPhone 13 today. How will the markets react? Let’s find out.
Brian Kelly, CNBC analyst: “Probably in 2019 the focus will be on currencies — Bitcoin, Litecoin, some of those — because we have quite a bit of geopolitical tension in the world. We are starting to see some global macro players use Bitcoin as an alternative to their gold position, or as a way to hedge against fiat currency fluctuations and volatility."
Bitcoin’s volatility has been fading since the middle of the week. The sharp fall on Monday was stopped by the support at $3,773 near the 100-day SMA. After that, bulls managed to push the price up, where they faced the resistance at $3,982. If their attempts to break this level are successful, the next resistance will lie at $4,060. Otherwise, the grandfather of cryptocurrencies will fall to the first support at $3,898. The next support lies at $3,773. As about indicators, parabolic SAR shows a downward movement for Bitcoin, and ADX shows bulls trying to take over the market.
- Great opportunity to trade Litecoin: Litecoin developers introduced a new possible update Litecoin v0.17.1 with new functions and better functionality. At the same time, LTC keeps rising and has already overcome the $57 level.
- Switzerland records the first real estate deal on the blockchain
- French authorities announced their plan to ban the anonymous cryptocurrencies. But do they know how to do it?
- Germany’s government plans to develop a blockchain strategy for the country. It will introduce a strategy in the middle of 2019.
- SWIFT tests a new blockchain system for votes of shareholders together with Deutsche Bank, DBS, HSBC, Standart Chartered bank and Singapore stock exchange.
- The leading Swiss stock exchange SIX Swiss Exchange will use Corda blockchain platform for developing R3.
- Opera will add Ethereum wallet into its new browser for iOS.
- The Mercury FX payment service conducted its first international transaction using xRapid.
- Mining giant Bitmain is going to launch 100 thousand of new ASICs in Chinese province Sichuan.
- Ernst&Young audit company announced to launch an instrument for taxation of crypto operations for private and institutional investors.
- Facebook is going to launch its coin in the first half of 2019.
Current prices (last update 13:16 MT time)
Latest news: US Dollar Index attempts to break the 200-period MA ahead of July’s US Nonfarm Payrolls report, which carries high expectations…
Risk aversion dominates in the financial markets as the resurgent of coronavirus cases may slow global growth. Thus, safe-haven currencies are rising such as the CHF, the JPY, the USD, and riskier assets and commodity-linked currencies (the CAD and the AUD) are weakening.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.