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25.08.2019 - 19.08.2019
USD is strengthening against its main competitors – EUR, JPY, and GBP.
Jerome Powell, the head of the US Fed, controls short-term interest rates and has an exceptional influence on the dollar exchange rate. Traders closely watch his speeches as they are often used to drop hints regarding future monetary policy.
New Home Sales measures the change in the annualized number of new residential buildings that were sold during the previous month. A higher than expected reading should be taken as positive/bullish for USD, while a lower than expected reading should be taken as negative/bearish for USD. In July, the indicator is expected to grow from 646K to 649K.
The euro continues to decline against the US dollar.
The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. This is a key way to measure inflation in Canada. A higher than expected reading should be taken as positive/bullish for CAD, while a lower than expected reading should be taken as negative/bearish for CAD. The core index is expected to grow from −0.3% to −0.1%, and total sales will remain unchanged at −0.1%.
At the beginning of this week, the cryptocurrency market made growth attempts but then began a downward correction. Currently, Bitcoin is trading at 10150.00 (–1.8%), Ethereum is at 190.00 (–2.3%), Ripple is at 0.2700 (–5.6%), and Bitcoin Cash is near 310.00 (–3.3%), and Litecoin is around 73.75 (–4.9%). The total market capitalization reached $281 billion but then decreased to $267 billion. Bitcoin's market share fluctuated around 69.0–68.5%.
Snap Inc. shares show a correctional decline of 10.5% from the 52-week high of July 29. Over the past three months, the emitter's quotes grew by 44%. Previously, the company presented the third generation of Spectacles 3 smart glasses with significant revisions and a price almost two times higher than last year's version.
In the second half of August, the Starbucks stocks grew slightly and is currently trading at a 2.7% discount to the 52-week high of July 26th. Since the beginning of the year, the instrument has risen by 50% with the support of strong growth in comparable sales in the USA and China over the past two quarters, as well as initiatives to digitalize and expand the loyalty program. In addition, the company plans to increase its presence in China to 3,000 stores by the end of 2019.