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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.
Forex Today: UK inflation data arrive mixed, focus shifts to FOMC Minutes
Here is what you need to know on Wednesday, August 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).
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.
Minutes of the July FOMC meeting serves as one of today’s economic highlights
Bear steepening turned into bear flattening in Europe yesterday. Daily changes on the German yield curve ranged between +2.4 bps (30-yr) and +5 bps (2-yr). EU swap rates added 0.9 bps (30-yr) to 4.5 bps (2-yr). The US/Iran stalemate and higher energy prices offer a first explanation.
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.
ECB's Rehn: Keeping inflation expectations anchored is essential
European Central Bank (ECB) official and Finnish Central Bank Governor Olli Rehn said in a written copy of a speech, released during the European trading session on Wednesday, that it is essential to keep inflation expectations anchored.
iQSTEL Inc. (IQST) reports Q2 loss, tops revenue estimates
iQSTEL Inc. (IQST - Free Report) came out with a quarterly loss of $0.38 per share versus the Zacks Consensus Estimate of a loss of $0.23. This compares to a loss of $0.82 per share a year ago. These figures are adjusted for non-recurring items.
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.
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.
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.
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.
STARPRIME completes beta testing of Market-Maker model for retail brokers
The Market-Maker Model developed by STARPRIME has completed an extensive beta-testing phase, working with a select number of clients. The term ‘market maker’ carries a stigma of being a bad actor in our industry. That reputation has identifiable origins, and some of it has been earned.
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.
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.
Indian Rupee stays under pressure amid higher oil prices
The Indian Rupee (INR) remains vulnerable against the US Dollar (USD), close to its two-week low at around 95.75.
Gold climbs back above $4,350 as USD remains depressed ahead of FOMC Minutes
Gold (XAU/USD) climbs back above $4,350 during the first half of the European session, reversing a part of the previous day's heavy losses.
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