Ah, the crypto markets, those fickle beasts! They lay dormant over the weekend, like a lazy cat basking in the sun, after a rather dramatic dip last week. Bitcoin and Ethereum, the darlings of the digital realm, decided to take a little breather, only to wake up on Monday morning feeling a bit under the weather.
This week promises to be a rollercoaster ride, as all eyes are glued to the grand spectacle of US President Trump meeting with the illustrious Volodymyr Zelensky. Will they shake hands and solve the world’s problems? Or will it be more of a soap opera? Stay tuned!
In a pre-meeting flourish, Trump declared that Zelensky “can end the war with Russia almost immediately if he wants to.” Well, if only it were that simple! A peaceful resolution might just sprinkle some fairy dust on investor confidence across all markets. Who knew peace could be so profitable?
Economic Events August 18 to 22
Mark your calendars, folks! Thursday brings not one, but two purchasing managers’ index (PMI) reports. The August S&P Global Manufacturing PMI and Services PMI indices are like the crystal balls of the economy, giving us a glimpse into the ever-changing landscape of commerce.
And let’s not forget the existing home sales data dropping on Thursday. But let’s be real-real estate reports are about as exciting as watching paint dry when it comes to risk-on asset markets.
Last week’s mixed bag of inflation and consumer data has thrown a wrench into the Fed’s policy outlook. So, all eyes will be on Chair Jerome Powell’s Jackson Hole speech on Friday. Will he be a dove, a hawk, or just a confused owl? The suspense is killing us!
“Odds are that he will be more of an owl, waiting and watching, than either a hawk or a dove. In other words, he’ll say that a Fed rate cut is possible at the September meeting, but the Fed’s decisions are data-dependent,” mused Yardeni Research.
Key Events This Week:
1. Zelensky Meets With Trump In US – Monday
2. July Fed Meeting Minutes – Wednesday
3. August S&P Manufacturing PMI data – Thursday
4. August S&P Composite PMI data – Thursday
5. July Existing Home Sales data – Thursday
6. Fed Chair Powell Speaks -…
– The Kobeissi Letter (@KobeissiLetter) August 17, 2025
Investors are holding their breath, hoping the central bank will finally decide to cut rates in September after a long, drawn-out game of chicken. Current futures markets are buzzing with an 84.6% probability of a cut to 4.0 to 4.25%. Fingers crossed!
Crypto Market Outlook
Oh, what a morning it is for digital assets! The markets have taken a nosedive, plummeting back to the $4 trillion level, down nearly 6% from last week’s dizzying heights. Bitcoin, the king of crypto, is leading the charge downwards, falling to $115,000, shedding 2.5% of its value. It’s now 6.9% off its peak-talk about a dramatic correction!
Ethereum is also feeling the pinch, dropping to its lowest point in a week at $4,345, still a whole 10% away from its glorious 2021 all-time high. The altcoins are having a mixed bag of emotions, with XRP, Solana, Hyperliquid, and Sui taking a hit, while Chainlink and Monero are dancing to their own tune.
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2025-08-18 09:33