A Week On The Market (09/02 - 09/08): September Beginning Calmly

A Week on the Market (09/02 - 09/08): September Beginning Calmly

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The Bank of Canada is not ready to change the rate yet; CAD/USD remains neutral

In the first week of September, the Bank of Canada is having a session, on which it should make a decision about the interest rate. Presently, it is 1.75% per annum, which is a rather neutral value for the Canadian economy, and, obviously, the regulator is not ready to soften the monetary and credit policy yet. Most likely, it will let the Federal Reserve System of the USA act first and only then make its own decision. If the rate remains untouched, it will be neutral for the CAD/USD, while some hints on or directs indications of future softening will put pressure upon the Canadian dollar.

The Bitcoin Cash conference: chances for growth of the cryptocurrency

In Australian Townsville, the Bitcoin Cash City Conference is going to take place. Main BCH developers are expected to deliver speeches. This event is not too important, however, it may influence the price of the Bitcoin Cash if there will be hints on the upcoming progress of the blockchain.

Binance is giving away Stellar tokens

After this midsummer the Binance exchange added support to Stellar , user balance analysis showed some funds by the end of August. First remunerations may be calculated starting September 1st. What we mean is an additional bonus equivalent to stacking 10-12 months of use. For the Stellar, it is a certain opportunity for moderate price growth.

The dollar is hoping for strong data on the labor market

As usual, in the first week of the month, the USA are publishing the data on the labor market for August. The unemployment rate is supposed to remain at the same level of 3.7%, while the number of workplaces out of the agricultural sector has grown by 159 thousand places against the previous growth of 164 thousand. However, the average salary may have grown by 0.3% calculated monthly, preserving previous growth rates, which might be a good support for the American currency. The stronger the statistics, the better for the dollar.

The trade war: the start and continuation

The currencies of the developing economies may find themselves under pressure due to the first portion of the previously announced mutually raised tax fees of the US and China coming into force. The sides are discussing a trade agreement but no progress is seen yet. The longer trade problems continue on both sides, the worse the world risky assets feel.

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