FOMC Preview: Another world crisis? Why interest rates cut won’t save U.S.

The events of the beginning of this week — surges in oil prices and interest rates in the repo market — increase the chances that the Fed will try to look dovish, trying to ease the tension in the money markets. In turn, this may be good news for stock markets and bad news for the dollar.

https://fxpro.news/daily-forex-outlook/another-world-crisis-why-interest-rates-cut-wont-save-u-s-20190918/

#BitComment: Bitcoin eased its dominance
Bitcoin remains outside the market, trading at $10,250. All dynamics are now in altcoins, which is seen in the sharp decline in the Bitcoin dominance index to 67.8%. Almost all the altcoins from the TOP-100 are in the green zone. The long-awaited growth is especially strong for XRP, which spiked by nearly 16% in the last day.

https://fxpro.news/analysis-and-insight/bit-comment-bitcoin-eased-its-dominance-20190918/

#WaveAnalysis
#AUDUSD is expected to fall further and retest the next pivotal support level 0.6800

https://fxpro.news/market-snapshots/audusd-wave-analysis-18-september-2019-20190918/

Important Upcoming Events (GMT):

07:30 CHF🇨🇭[!!!] SNB Policy Rate
08:30 GBP 🇬🇧 [!!!] U.K. Retail Sales
11:00 GBP 🇬🇧 [!!!]Bank of England Interest Rate Decision
14:00 USD 🇺🇸 [ !!] U.S. Existing Home Sales

Detailed economic calendar

FX: The dollar index returned more than half of the gain of 0.4% after the Fed's comments to 98.0. EURUSD remains at 1.1050; AUD and CNH continue to weaken; JPY is adding to the dollar. Currency market volatility remained below average monthly levels.

Stocks: S&P500 Futures remain close to 3000. Chinese indices returned their initial gain at the opening of the day; Nikkei225 weakened in response to the BoJ saved its policy. The VIX volatility index fell from 14.6 to 13.9.

Commodities: Brent fell to $63.0, calming down after the weekly start Gold declined to $1495.

Crypto: Bitcoin fell by 3.3% overnight to $9900. Top-10 altcoins lose from 2 to 6% in the last 24 hours.

#BitComment
Bitcoin loses more than 3% over the last 24 hours and trades at $9,800. The decrease occurs at the increased trade volumes. Cryptocurrencies continue to surprise market participants. At the start, the Bitcoin dominance index fell, then the Bitcoin fell itself, and now almost the entire market of cryptocurrencies is in the red zone.

https://fxpro.news/analysis-and-insight/bit-comment-cryptocurrencies-continue-to-surprise-20190919/

Fed assures that economy “is okay”. Is it worth believing?

The Fed cut rate by a 25 bp to 1.75%-2.00%. Powell’s speech proved to be very convincing. The Fed may well start a new trend among the world’s CB's – a pattern of confidence that the economy will handle the difficulties.

The tone of the Fed and the Bank of Japan caused moderate pressure on the equity market, as well as supported the growth of bond yields, this pressure can be very moderate and short-lived.

https://fxpro.news/daily-forex-outlook/fed-assures-that-economy-is-okay-is-it-worth-believing-20190919/

#WaveAnalysis
#AUDJPY is expected to fall further and retest the next strong support level 73.00

https://fxpro.news/market-snapshots/audjpy-wave-analysis-19-september-2019-20190919/

Important Upcoming Events (GMT):

12:15 USD 🇺🇸 [!!] FOMC’s John C. Williams Speaks
12:30 CAD 🇨🇦 [!!] Canada Retail Sales
15:20 USD 🇺🇸 [!!] FOMC’s Eric Rosengren Speaks
17:00 WTI 🇺🇸 [!!] U.S. Rig Count

Detailed economic calendar

FX: The dollar index fell to 97.9 on Friday morning after falling 0.2% on Thursday. EURUSD remains at 1.1050. SGD, TRY, GBP are among the leaders of the growth in USD since the beginning of the day. NZDUSD in the area of 4-year lows. Currency market volatility is slightly below average monthly levels.

Stocks: Futures for the S&P500 close to 3010, little changed for the 4th session. MSCI World gained 0.1% this morning. Nikkei225 has been growing since the start of the month. VIX index virtually unchanged at 13.9.

Commodities: Brent rose to $ 63.8, levels at the beginning of August. Gold bought back in dip to $ 1,490, returned to 1,505.

Crypto: Bitcoin remains just above $ 10,000, quickly dismissing the sale the day before. Top 10 altcoins add from 1% to 5% in the last 24 hours.

GBPUSD may exceed 1.31 by the year-end as the worst days may be over

#GBPUSD added about 5% this month as drop to 1.20 attracted buyers. In 2016 and 2017, the pound initially faced difficulties above 1.27. However, exceeding this level marked the beginning of an 18% rally that was more than a year long.

https://fxpro.news/daily-forex-outlook/gbpusd-may-exceed-1-31-by-the-end-of-the-year-20190920/

The Bitcoin’s fence and return of excitement to the crypto

Cryptocurrencies bring back a somewhat forgotten sense of excitement to the market move. Altcoins showed a sudden surge at the start of the week, while Bitcoin – declined. Now the entire company is growing, while Ethereum shows the most significant impulse. And all this in a few days. At the same time, the first cryptocurrency shows no trend, causing more and more confusion. When the instrument grows and declines day after day from the same levels, in trading, it is called “fence”.

https://fxpro.news/analysis-and-insight/the-bitcoins-fence-and-return-of-excitement-to-the-crypto-20190920/

#WaveAnalysis
#NZDCHF is expected to fall further and retest the next support level 0.6160

https://fxpro.news/market-snapshots/nzdchf-wave-analysis-20-september-2019-20190920/

Important Upcoming Events (GMT):

13:00 EUR 🇪🇺 [!!!] ECB President Mario Draghi Speaks
13:45 USD 🇺🇸 [!!] Manufacturing PMI
13:50 USD 🇺🇸 [!!]FOMC Member John C. Williams Speaks
17:00 USD 🇺🇸 [!!] FOMC Member James Bullard Speaks

Detailed economic calendar

FX: The dollar index rose to 98.4 on Monday due to the strengthening against the euro. EURUSD fell back below 1.1000 on the weak eurozone PMIs; safe-heavens, JPY and CHF, are up for the third trading session; commodity-linked NOK, ZAR and CAD lost more than 0.4% to USD this morning. NZDUSD is trying to catch on 0.6250. The volatility of the foreign exchange market increased at the beginning of the week.

Stocks: S&P500 Futures lost 0.9% to 2983 since Friday morning. MSCI world fell to 0.25% since the beginning of the day. Nikkei225 reversed sharply to decline, down 0.9% this week. The VIX volatility index grew from 13.9 to 15.3.

Commodities: Brent rose to $ 64.0 following the Middle East rising tensions. Gold is in higher demand on such news, reaching $1,520.

Crypto: Bitcoin dropped to $9900. Top 10 altcoins vary from -3% to + 2% in the last 24 hours.

Geopolitics is a fragile foundation for oil growth

Oil starts the week with Brent 1% jump to $63.95 due to the Middle East increased tensions. The current impulse may well take it to this year’s highs of $72-$74. However, geopolitical concerns can hardly be considered a reliable investment idea.

https://fxpro.news/daily-forex-outlook/geopolitics-is-a-fragile-foundation-for-oil-growth-20190923/

#BitСomment
It’s getting harder for Bitcoin to hold on to the $10,000

The balance is very fragile, and lousy news background could well knock Bitcoin and altcoins out of their way. Alternative cryptocurrencies are barely showing signs of growth.

Today, on September 23rd, it is planned to launch the delivery futures from Bakkt. This long-awaited and that is why the potentially dangerous event for price dynamics.

https://fxpro.news/analysis-and-insight/bit-comment-its-getting-harder-for-bitcoin-to-hold-on-to-the-10000-20190923/

#WaveAnalysis
#EURNZD is expected to fall further and retest the next support level 1.7310.

https://fxpro.news/market-snapshots/eurnzd-wave-analysis-23-september-2019-20190923/

#WaveAnalysis
#Google is likely to correct down to the next support level 1200.00

https://fxpro.news/market-snapshots/google-wave-analysis-23-september-2019-20190923/

Important Upcoming Events (GMT):

08:00 EUR 🇩🇪 [!!] Germany Ifo Business Climate
09:55 AUD 🇦🇺 [!!] RBA Governor Lowe Speaks
14:00 USD 🇺🇸 [!!!] U.S. CB Consumer Confidence

Detailed economic calendar