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Bitcoin Price Forecast: BTC holds recent gains above 50-day EMA amid improving momentum
Bitcoin (BTC) slides slightly but holds most of the recent gains, reclaiming the 50-day Exponential Moving Average (EMA) at $64,300 at the time of writing on Tuesday after rising 2.5% the previous day.
Tue, Aug 18
British Pound trades lower against US Dollar after soft UK employment data
The British Pound (GBP) is down 0.1% to near 1.3530 against the US Dollar (USD) during the European trading session on Tuesday. The British currency comes under pressure after the release of the United Kingdom (UK) employment data for three months ending June.
Tue, Aug 18
WTI consolidates below $84.50, two-week top as bullish bias remains amid Hormuz standoff
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – extends its consolidative price move through the first half of the European session and currently trades near the $84.25-$84.30 area, close to a two-week high set earlier this Tuesday.
Tue, Aug 18
United States: August inflation profile – TD Securities
TD Securities’ Macro Research team, led by Oscar Munoz and Molly Brooks, projects a stronger US August CPI profile. Headline CPI is seen rising 0.39% month-on-month, with gasoline and food inflation rebounding.
Tue, Aug 18
Canadian Dollar receives support from firm oil prices
USD/CAD extends its losses for the fourth successive day, trading around 1.3870 during the European hours on Tuesday. The currency pair depreciates as the commodity-linked Canadian Dollar (CAD) gains support from firming crude oil prices.
Tue, Aug 18
Germany ZEW Survey - Economic Sentiment improves more than expected to 34.2 in August
German ZEW Survey - Economic Sentiment arrives at 34.2 in August, beating the estimates of 30.0 and the July reading of 26.3.
Tue, Aug 18
US Dollar: Dovish Fed repricing versus strong flows – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad highlights a mixed backdrop for the Dollar, with dovish Federal Reserve (Fed) repricing seen capping US Dollar (USD) rebounds even as foreign demand remains strong.
Tue, Aug 18
Fiscal concerns and doubts on Fed independence send US yields to long-term highs
US Treasury yields keep rising across the curve this week, with the yield for the 30-year Treasury bond reaching its highest level since 2007, during the global financial crisis, at 5.33% so far on Monday.
Tue, Aug 18
Brent: Rally extends above $91/bbl – ING
ING strategists Ewa Manthey and Warren Patterson note that Brent Oil has extended its rally, trading above $91/bbl as geopolitical risks and supply concerns support prices.
Tue, Aug 18
Euro: Overvaluation and energy risks weigh against US Dollar – MUFG
MUFG’s Halpenny notes that EUR/USD remains capped near its 200-day moving average at 1.1630 and is 2.5%-3.0% overvalued in the bank’s short-term model.
Tue, Aug 18
AUD/USD Price Forecast: Holds breakout near 0.7100
The Australian Dollar (AUD) trades almost flat at around 0.7100 against the US Dollar (USD) during the European trading session on Tuesday, but is close to its over two-month high of 0.7130 posted on Monday.
Tue, Aug 18
Dow Jones futures drop as soaring US yields, US-Iran friction rattle markets
Dow Jones futures fall by 0.25%, trading around 53,410 during European hours on Tuesday. Meanwhile, S&P 500 futures decline 0.52% to near 7,730, and Nasdaq 100 futures slip 0.92%, trading near 29,820.
Tue, Aug 18
Pi Network Price Forecast: PI holds steady amid app studio costs surge to push user adoption
Pi Network (PI) extends a consolidation range capped below $0.0900 on Tuesday, holding above the $0.0839 support level. PI token remains under pressure as the Core Team pushes for real user adoption by raising costs for AI-powered app creation, effective from August 24.
Tue, Aug 18
United Kingdom: Stagnation with stabilisation signs – Deutsche Bank
Deutsche Bank’s Chief UK Economist Sanjay Raja notes that while the United Kingdom (UK) economy has exceeded expectations, the labour market remains stagnant, with the jobless rate stuck at 4.9% and payrolled employees falling.
Tue, Aug 18
Canadian Dollar: Fragile recovery tied to US – Commerzbank
Commerzbank FX analyst Michael Pfister highlights that the Canadian Dollar’s recent weakness contrasts with a fragile recovery in Canada’s real economy.
Tue, Aug 18
New Zealand Dollar declines due to increased risk aversion
NZD/USD depreciates after two days of losses, trading around 0.5880 during the European hours on Tuesday. The pair depreciates as the US Dollar (USD) holds ground on safe-haven flows amid escalating geopolitical tensions between the US and Iran.
Tue, Aug 18
United States Dollar Index extends recovery from two-month low; trades above 99.50
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, builds on the overnight goodish rebound from the 99.30 area, or the lowest level since June 5, and gains some follow-through traction on Tuesday.
Tue, Aug 18
GBP/JPY Price Forecast: Pound steadies below the 216.35 resistance area
The British Pound (GBP) edges higher against the Japanese Yen (JPY) on Tuesday and extends gains for the third consecutive day, despite the mixed UK employment figures seen earlier on the day.
Tue, Aug 18
Australian Dollar: Upside risk targets 0.7150 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann highlight that AUD/USD strength remains intact after a jump to 0.7129, though overbought conditions should confine intraday moves to a 0.7090–0.7130 band.
Tue, Aug 18
British Pound: Softer as jobs data cools hikes – ING
ING’s Chris Turner reports a firmer EUR/GBP after UK labour data, with economist James Smith highlighting a cool jobs market and minimal wage pressures, implying little impetus for Bank of England hikes this year.
Tue, Aug 18
