Gold markets went back and forth during the trading session on Thursday, as we continue to hang about a significant support level based upon technical analysis, but there are a lot of moving pieces that could push this market.
The US dollar pulled back against the Japanese yen during trading on Thursday, as we continue to struggle to break above the ¥112 level with any great momentum.
The British pound continues to drift a bit lower during the trading session on Thursday as the 1.30 level of course attracts a lot of attention. Overall, the market looks very likely to test major levels of the next few days.
The British pound has drifted a bit lower against most currencies over the last several days, and the Japanese yen will be any different. At this point though, we are approaching a very interesting level.
The Euro broke down significantly during the day on Thursday but continues to see a lot of support just below. With that being the case, it’s very likely that the market will continue to be choppy and difficult to deal with but in the end it’s very likely that the market participants are watching major levels underneath.
The Australian dollar continues to grind sideways just below an important technical figure, so it makes sense that we simply can’t get anywhere. With that being the case, more sideways and listless trading is probably ahead.
Investing.com - The U.S dollar jumped against its rivals on Thursday as mostly upbeat economic data pointed to strength in the underlying economy.
Based on the early price action and the current price at $1277.60, the direction of the June Comex gold market the rest of the session is likely to be determined by trader reaction to yesterday’s close at $1276.80.
The euro feels pressure after a disappointing round of purchasing managers index readings point to further weakness in eurozone activity.
Based on the early price action and the current price at 1.1241, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the potential support cluster at 1.1238.
Gold is trading positive but limited. Platinum is providing an interesting technical move while copper is down after reaching 10-month highs
S&P500 futures have been falling since the second half of Wednesday, losing more than 1% from the peak levels. Market participants are trying to stick to thier profits after the recent rally, which sent the US and Chinese indices to multi-month highs. The JPY has touched lows against the dollar since mid-January. The moderate demand for protective assets on the background of relatively good data is a sign of cautions of the markets before the long weekend in Europe due to Easter Holidays.
Thin-trading conditions are contributing to today’s early two-sided trade. This price action is likely to continue throughout the session. Throughout the week, gold has been pressured by improving economic data in the U.S. and China. With the emergence of weaker data from the Euro Zone, traders now have to make position adjustments to reflect this.
This time, the CAD Retails numbers are expected to report positive data to the prior negative numbers. Loonie continued to remain subdued within the range of 1.3282/1.3402 levels since April 1.
European stocks were down on Thursday ahead of the Easter break, as yet more indicators pointed to malaise in the region’s economy. In the U.K., the FTSE 100 (UK:UKX) lost 0.2% to 7457.02 after finishing flat the previous day, while Germany’s DAX fell by 0.3% to 12,122.03 and France dipped 0.4% to 5,542.17. Italy’s FTSE MIB (IT:I945) was the biggest loser among regional indices on Thursday, swooning 0.6% to 21,873.95.
The Litecoin (LTC) market seems to be falling off a cliff following its most recent rally. Litecoin is currently trading at around $79 after a 5% drop since last week. As mentioned earlier in the week, LTC has seen exponential growth since the beginning of March, leading the current mini bull run with a massive 40% increase in price. However, it seems LTC has now started to consolidate closer to its 200-day EMA. Looking at the chart above, the 200-day EMA has already crossed both the 50 and 20-day EMAs, and LTC is still trading above that support level, which sits at around $68. The 50-day EMA, which sits at around $58, is also showing strong support for consolidation above The post Latest Litecoin price and analysis (LTC to USD) appeared first on Coin Rivet.
The pair remained silent in the last couple of sessions amid lack of Brexit headlines. The Fundamentals may try to push down the GBP/USD but, the Technicals seem to come for rescue.
Unfortunately for equity investors, the surprisingly robust China GDP data failed to ignite a rally on Wall Street as US investors turn focus to domestic concerns.
The rebound in China’s economy did little to excite investors despite GDP, retail sales, industrial production, and fixed asset investments all showing signs of improvement.
Investing.com -- U.S. stock markets were set to open lower on Thursday, after weak European data and reports of a new North Korean weapons test challenged assumptions that the macro backdrop is changing for the better.
The pair had risen yesterday following strong Chinese macro data. Today, it needs something more of power to impress the euro bulls.
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. To keep the lesson grounded in practicality, we'l...
Investing.com -- The euro is trading sideways against the dollar early Thursday in Europe, awaiting what are likely to be market-moving business surveys from around the region.