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Equities: Chip-led selloff under stagflation pressure – Deutsche Bank
Deutsche Bank strategists note that global equities endured another difficult session as rising yields and higher Oil reinforced a stagflationary backdrop. US indices, led by chip stocks and the NASDAQ, extended declines, while the STOXX Europe 600 posted its fifth consecutive drop.
Wed, Aug 19
Forex Today: UK inflation data arrive mixed, focus shifts to FOMC Minutes
Here is what you need to know on Wednesday, August 19:
Wed, Aug 19
Indonesian Rupiah holds firm as BI keeps rate steady at 5.75%
USD/IDR depreciates after registering modest gains in the previous day, trading around 17,870 during the European hours on Wednesday. The pair holds losses as the Indonesian Rupiah (IDR) remains stronger following the release of the interest rate decision by the Bank Indonesia (BI).
Wed, Aug 19
Canadian Dollar: Tariff delay offers only muted relief – Commerzbank
Michael Pfister at Commerzbank reports that new 50% US tariffs on selected Canadian goods have been delayed by three days as an agreement is reportedly close, prompting only a modest Canadian Dollar (CAD) rebound amid uncertainty over the deal’s durability.
Wed, Aug 19
Oil: Inventory draws and risk premiums support prices – ING
ING strategists Ewa Manthey and Warren Patterson note that Oil prices have risen for a fourth straight session, supported by US-Iran tensions and concerns over shipping through the Strait of Hormuz.
Wed, Aug 19
ECB's Rehn: Keeping inflation expectations anchored is essential
European Central Bank (ECB) official and Finnish Central Bank Governor Olli Rehn said during the European trading session on Wednesday that it is essential to keep inflation expectations anchored.
Wed, Aug 19
Silver Price Forecasts: XAG/USD tests levels sub-$63.00 as bearish pressure mounts
Silver (XAG/USD) trades lower for the second consecutive day on Wednesday, exploring prices below the $63.00 level at the time of writing, after a reversal from the $66.50 area on Tuesday.
Wed, Aug 19
NZD/USD Price Forecast: Weakens below 0.5900, but staying supported above 100-day SMA
The NZD/USD pair trades with mild losses around 0.5875 during the early European session on Wednesday. Escalating tensions in the Middle East boost a safe-haven currency such as the US Dollar (USD) and act as a headwind for the pair.
Wed, Aug 19
Bitcoin Price Forecast: BTC slips toward key 50-day EMA ahead of FOMC Minutes
Bitcoin (BTC) edges lower toward the 50-day Exponential Moving Average (EMA) around $64,370 at the time of writing on Wednesday after posting a 2.9% gain over the previous two days. The recovery is supported by renewed institutional demand, with ETFs accumulating inflows so far this week.
Wed, Aug 19
Indonesian Rupiah: Oil gains and BI decision shape IDR – OCBC
OCBC’s Sim Moh Siong and Christopher Wong note that Indonesian Rupiah (IDR) weakness is driven by higher Oil prices and elevated global yields, even as domestic sentiment improves after President Prabowo’s speeches and the BI governor nomination.
Wed, Aug 19
AUD/USD Price Forecast: Rising 20-day EMA supports near-term bullish bias
The Australian Dollar (AUD) underperforms its major currency peers on Wednesday, trading 0.17% lower at around 0.7070 against the US Dollar (USD) during the European trading session.
Wed, Aug 19
Equities: Defensive rotation with higher yields – Danske Bank
Danske Research Team reports a marked drop in global equities, with the S&P 500 and Stoxx 600 down 0.7% on Tuesday. After a period of value-versus-growth rotation, flows shifted toward defensive sectors such as consumer staples and health care, funded by cyclicals.
Wed, Aug 19
Asia FX: Lower US yields offset Oil risk – MUFG
MUFG’s Lloyd Chan notes that the Korean Won (KRW) and Taiwan Dollar (TWD) are leading Asia FX gains as softer US yields and a resilient technology cycle support sentiment.
Wed, Aug 19
Euro trims gains against British Pound after UK CPI inflation rises to 2.9%
The EUR/GBP cross pares gains around 0.8555 during the early European trading hours on Wednesday. The British Pound (GBP) attracts some buyers against the Euro (EUR) following the UK inflation data.
Wed, Aug 19
British Pound edges up within range following hotter UK inflation data
The British Pound (GBP) ticked up against the US Dollar (USD) on Monday, following the release of UK inflation data.
Wed, Aug 19
Japanese Yen: JGB spillover supports firmer JPY against US Dollar – OCBC
OCBC’s Sim Moh Siong and Christopher Wong highlight that rising long-end Japanese government bond yields are increasingly influencing global curves and the Japanese Yen.
Wed, Aug 19
British Pound shows limited reaction to expected increase in UK headline inflation
The British Pound (GBP) reflects a slight market action against the Japanese Yen (JPY) near its day’s low at around 215.70 after the release of the United Kingdom (UK) Consumer Price Index (CPI) data for July.
Wed, Aug 19
Indonesian Rupiah: BI seen hiking to anchor rupiah – UOB
UOB strategists highlight Bank Indonesia’s (BI) policy meeting, with consensus expecting no change but its macro team forecasting a 25 bps hike to 6.00%. They see risks around the Indian Rupee (IDR), divided views on Federal Reserve (Fed) policy and rising global inflation.
Wed, Aug 19
Experts agree: Hawkish BoJ bets support Japanese Yen against US Dollar
The Japanese Yen (JPY) recovers strongly against its major currency peers on Wednesday after underperforming in the past few days. The US Dollar (USD) is down 0.25% against the Japanese currency at around 159.20 during the early European trading session.
Wed, Aug 19
Zcash: Mining difficulty hits record high as Cypherpunk joins the race
Zcash (ZEC) hovers above $500 on Wednesday amid record-high mining difficulty, with Cypherpunk Technologies (CYPH) launching its Zcash mining fleet. Network difficulty has hit an all-time high of 259.69 million, which aligns with the release of Cypherpunk’s 4.2 GSol/s Zcash mining fleet.
Wed, Aug 19
