Investing.com - The dollar's strength is slowly and surely constricting gold, and it may just be days before bullion's $1,200 support is broken.
Bitcoin, (BTCUSD) the world’s largest digital currency, was last fetching $6,356.21, up 0.2% since Sunday at 5 p.m. Eastern Time on the Kraken exchange. Over the weekend, the price of a single bitcoin slipped below $6,300 for the first time since Oct. 31. Speaking at the New York Times Luxury Conference on Monday, Joseph Lubin, the co-founder of ethereum, said blockchain, the technology that underpins all cryptocurrencies, has the potential to create wealth.
Investing.com – The dollar hit 17-month highs against its rivals Monday, led by a decline in sterling after the UK Prime Minister's spokesperson denied a report claiming the main elements of a Brexit deal could be presented to the UK as soon as Tuesday.
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The U.S. dollar took flight on Monday as political uncertainties in Europe— Italy’s budget dilemma and Brexit—drove the British pound and euro lower against key rivals.
A buoyant U.S. dollar, helped by uncertainties in the eurozone, is weighing on the British pound and making this Monday a painful start to the week for traders who believe a Brexit deal, which would likely give sterling a massive boost, could be near.
Investing.com - The dollar remained near a 16-month high on Monday, as concerns over Brexit and political issues in Italy weighed on the pound and euro.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, surged 0.47% to 97.19 as of 10:36 AM ET (15:36 GMT), not far from a session high of 97.36, the most since June 2017.The greenback surged amid expectations that the Federal Reserve will raise rates in December and beyond. An equity selloff also helped boost demand for the dollar, as Wall Street opened lower. ...
Gold markets fall to kick off the week, reaching down towards the $1200 level. That being the case, it looks as if the market will probably continue to struggle a bit, but I do see quite a bit of support just below, extending down to the $1185 handle.
The US dollar initially tried to rally during the trading session on Monday to kick off the week, but as we got close to the ¥114.50 level, we rolled over yet again.
The British pound fell immediately against the US dollar to kick off the week on Monday, gapping down and falling towards the 1.28 level underneath. However, as North America woke up we started to see a little bit of resiliency.
The S&P 500 fell 18 points, or 0.65%, to 2,762.82 as of 9:42 AM ET (14:42 GMT), while the Dow decreased 139 points, or 0.53%, to 25,850.26 and the tech-heavy Nasdaq Composite was down 100 points, or 1.35%, to 7,306.71.
The British pound gapped lower against the Japanese yen during the Monday session to kick off the week, breaking down towards the ¥146 level. Looking at this chart, it certainly seems as if the British pound has more pain ahead.
The Euro fell during the trading session on Monday, breaking through the 1.13 level, an area that has been rather supportive. Ultimately, I think that the market will find a lot of pressure as we have so many issues involving the European Union.