Weekly Digest: Aug 22nd - 26th

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A Week of Expectancy

Hello dearest Hivers from the world! Today we have the upcoming news for the world financial markets, being this the last week of Q3, there's not much fun right now, as every market is just waiting.

BTC is at the moment consolidating above the $21k-$21.3k - this does not provide any hints of price going higher nor lower, and instead we could expect a week of ranged price movements for crypto markets.

Let's go ahead and take a look at the most pivotal economic events for this week, but first...

Some Featured News:

Tornado Cash sets precedent for an uncertain future

As Mr. @taskmaster4450le previously mentioned (here and here - very good readings, make sure to take a look at it) the Tornado Cash (just a name for a smart contract) getting sanctioned sets a dark precedent of a government acting against code, but having the coder imprisoned by the Netherlands is a huge nasty move against all the Web3.0 movement, the cryptos, and the decentralized upcoming world. Of course, we knew the establishment wasn't gonna give up without a fight (I'm quoting Pink Floyd here) but reaching the radical measure of imprisoning someone for the code he wrote, when someone else made a non-fair use of it, is totally unacceptable and seems quite Orwellian, to be honest.

Today I want to share a resource written from Coincenter. The famous crypto Think Tank has published a very interesting analysis on the (il)legal aspects behind the whole OFAC procedure, and opens up the possibility to challenge the OFAC decision in court.

To close this section, I'll share a Tweet from Neeraj K. Agrawal (who works in communications for Coincenter) that I think describes very well the feelings we get but also the reasons behind the establishment to take such arbitraries decisions.


i’m sorry that your warrantless surveillance regime was built on the assumption that people would always need intermediaries to transact

— Neeraj K. Agrawal (@NeerajKA) January 6, 2021

Economic Calendar, August 15th - 19th

This hopefully will be a calmful week, at the expectance of the arrival of Q4. Let's go!

Monday 22th:

  • Canada New Housing Price Index (NHPI)
    Forecast: 0.3%
    Previous: 0.2%
    Outcome: 0.1%

  • Australia Flash Services PMI
    Forecast: -
    Previous: 50.9

These economic news were already released at the time of writing. Be aware of the negative value of the NHPI data for CAD. Expect a weak CAD a few days if not the whole week.


Tuesday 23rd:

  • Eurozone Flash Services PMI: Germany/France/UK
    Forecast: 49.0/52.9/51.5
    Previous: 49.7/53.2/52.6

  • Eurozone Flash Manufacturing PMI: Germany/France/UK
    Forecast: 48.0/49.0/51.0
    Previous: 49.3/49.5/52.1

  • US Flash Services PMI
    Forecast: 49.8
    Previous: 47.3

  • US New Home Sales
    Forecast: 574k
    Previous: 590k

  • US Richmond Manufacturing Index
    Forecast: -3
    Previous: 0


Wednesday 24th:

  • Germany 10y Bond Auction
    Forecast: -
    Previous: 0.94 | 1.1
  • US Core Durable Goods Orders m/m
    Forecast: 0.2%
    Previous: 0.4%
  • US Pending Home Sales m/m
    Forecast: -2.6%
    Previous: -8.6%
  • US EIA Crude Oil Inventories
    Forecast: -
    Previous: -7.1M

Thursday 25th:

  • ECB Monetary Policy Meeting Accounts
  • Germany Information and Forschung (ifo) Business Climate
    Forecast: 86.7
    Previous: 88.6
  • US Prelim Gross Domestic Product (GDP)
    Forecast: -0.7%
    Previous: -0.9%
  • US Unemployment Claims
    Forecast: 250k
    Previous: 250k
  • Kansas City Fed Economic Symposium
  • Reserve Bank of New Zealand (RBNZ) Gov Orr Speaks

Friday 26th:

  • US Core Personal Consumption Expenditures (PCE) Price Index m/m
    Forecast: 0.3%
    Previous: 0.6%
  • Fed Chair Powell Speaks
  • Kansas City Fed Economic Symposium
  • Revised University of Michigan (UoM) Consumer Sentiment
    Forecast: 55.3
    Previous: 55.1

As we may see, for this week everything will start slow and progressively increasing in intensity by the end of the week. We'll keep our eyes open, and take advantage of the steady movements of the first part of this week, and probably getting out (Forex/Commodities) before higher volatility strikes.

"Having patience is the key. It is consistency what will help you achieve your goals."


If you want more information on this numbers, what they mean and how to read them, and also real-time feed, head to Forex Factory.


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