This is what you need to know to trade today Wednesday, August 18:
Fears of a slowdown in global growth and rising covid cases are weighing on sentiment and supporting the safe-haven US dollar. Minutes from the Fed meeting will draw attention after the RBNZ surprised by leaving rates unchanged. Gold is holding below $ 1,800 and cryptocurrencies have been going down.
COVID-19 cases They continue to rise in the US, approaching a daily average of 140,000, resulting in pressure on hospitals in some under-vaccinated areas.
Federal Reserve: President Jerome Powell refrained from making meaningful comments in his speech Tuesday, saying only that the Delta variant of covid causes uncertainty. Leave the focus on the minutes of the meeting of the FOMC Wednesday.
They will reflect the differences within the central bank between those who want an announcement on the reduction of bond purchases in September and those who hold back. Comments on inflation – transient or not – and employment will be of high interest.
On Tuesday, the United States reported figures disappointing retail sales for July, adding to the bleak mood and keeping the safe-haven dollar strong. Overall sales fell 1.1% in July.
The Reserve Bank of New Zealand It surprised the markets by leaving its interest rates unchanged at 0.25% instead of raising them. While the RBNZ is set to increase borrowing costs later this year, its response to New Zealand’s new lockdown has broader implications for markets.
The EUR/USD it is trading near 1.17, the August low, as the dollar gains ground. Final eurozone inflation figures will be released later in the day. Europe has seen its burden of covid cases gradually decline.
The GBP/USD is trading below 1.3750, the lowest level in three weeks amid a strong dollar and after the UK’s CPI consumer price index fell short of expectations at 2% yoy in July versus 2.3 % projected.
The USD / CAD it remains above 1.26 as oil prices struggle to recover ahead of Canadian crude inventory data and inflation statistics.
The oro It has been trading around $ 1,791, steady amid limited movements in US Treasury yields.
The Bitcoin it is hovering above $ 45,000 consolidating the gains seen earlier this month. Ethereum has pulled out of the highs, but remains above the $ 3,000 level.
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