Investing.com - The dollar rose against its rivals Thursday as a slew of positive U.S. economic data reaffirmed investor expectations that the Federal Reserve will continue with its glacial pace of rate hikes, despite criticism from President Donald Trump.
Investing.com - Gold prices rose on Thursday as bullish investors took the Federal Reserve's latest hawkish talk in stride and targeted the $1,250 level in a bid to recapture ground lost earlier in the year.
Bitcoin prices traded marginally lower Thursday, continuing what’s been a subdued few sessions for the world’s largest digital currency. “It’s only a matter of time now,” said Mati Greenspan, senior market analyst at eToro, speaking about a potential breakout for bitcoin. Transactions per second is a barometer for the scalability of blockchain technology, which has been a roadblock to adoption of the distributed-ledger technology.
Investing.com - The U.S. dollar was higher on Thursday as bond yields rose and minutes from the Federal Reserve’s September meeting supported a rate increase in December.The U.S. dollar index, which tracks the greenback against a basket of other currencies, rose 0.13% to 95.47 as of 10:57 AM ET (14:57 GMT).Treasury yields were higher on Thursday, with the United States 10-Year note near a one-week high of 3.211% and the 2-year note at a 10-year high. ...
The U.K.’s main equity index on Thursday trades slightly higher, benefiting partly from lackluster trade in the British pound.
Gold prices moved higher on Thursday as US yields whipsawed initially moving higher following a stronger than expected jobless claims report. With claims close to a 59-year low, wages should begin to move higher which is why the Fed in its meeting minutes said that it was likely to move to restrictive monetary policy. With short-term policy still somewhat accommodative, its possible that short term rates rise to 3%, which is close where the 2-year yield is currently pricing. This could buoy the dollar and in turn put downward pressure on gold prices. Despite this scenario, yields moved lower, paving the way for higher gold prices.
The S&P 500 fell 17 points, or 0.61%, to 2,792.10 as of 9:37 AM ET (13:37 GMT), while the Dow decreased 148 points, or 0.58%, to 25,558.49 and the tech-heavy Nasdaq Composite was down 49 points, or 0.65%, to 7,593.27.
Gold prices were flat on Thursday as investors paused to digest the latest meeting minutes from the Federal Reserve. Comex gold futures for December delivery inched up 0.06% to $1,228.10 a troy ounce as of 8:02 AM ET (12:02 GMT). The hawkish Fed minutes showed that while the central bank had some doubts about the economy, it still planned to gradually increase interest rates in December and beyond.
Investing.com – U.S. futures pointed to lower opening bell as the Federal Reserve looks poised to continue gradually increasing interest rates.The S&P 500 futures fell 9 points or 0.33% to 2,807.0 as of 6:50 AM ET (10:50 GMT) while Dow futures were down 69 points, or 0.27%, to 25,667.0. Meanwhile tech heavy Nasdaq 100 futures decreased 32 points, or 0.44%, to 7,281.0.The hawkish Fed minutes released on Thursday showed that while the central bank had some doubts about the economy, it still planned to gradually increase interest rates in December and possibly beyond. ...
The USD fails to capitalize on early up-move and seemed to cap gains as Falling oil prices weigh on Loonie
Oct 18 (Reuters) - Euro Holdings Bhd: * JUDGEMENT RECEIVED BY CO ON 17 OCT ALLOWED YAP CONSTRUCTION'S AMENDED CLAIM FOR 9.5 MILLION RGT, AMONG OTHERS, AGAINST CO'S UNIT Source ( https://bit.ly/2yOEc1G ...
Gold held fort as geo-political events have lead to some risk averse activity which has kept yellow metal in spot market trading positive.
Investing.com - The dollar eased from one-and-a-half week highs against a currency basket on Thursday, but remained supported as the minutes from the Federal Reserve’s September meeting indicated that it plans to push ahead with rate hikes in the coming months.
The British pound on Thursday stabilizes amid reports that U.K. Prime Minister Theresa May is considering a longer transition period within the EU as Britain attempts to break an impasse in talks to forge a new relationship with Europe’s trade bloc.
Gold investors continue to receive mixed signals from a few key outside market drivers. Bullish factors for gold include stock market volatility and weakness, a falling U.S. Dollar and a drop in interest rates. Gold could feel downside pressure if demand for risk returns, rates rise and the dollar trades steady to better.
FOMC Minutes from yesterday helped the USD to climb higher. That also negatively influenced stocks and commodities. The current price movements are in line with what we were writing about two days ago in the analysis about the USDJPY and DAX. Let’s start with the USDJPY first. The bounce from the long-term up trendline is ON and yesterday, the price managed to break the 50% Fibo, which gives us a buy signal. Today, we are testing that area as a support and we can see a bounce, which gives us a bullish confirmation.
The euro zone has shown great resilience during the sovereign debt crisis and will be able also to cope with the draft budgetary plan of Italy, the chairman of euro zone finance ministers Mario Centeno said on Thursday. On Monday, Italy sent to the European Commission its draft budget assumptions for 2019 under which its headline budget deficit is to rise to 2.4 percent of GDP, tripling the target agreed on with the Commission by the previous government.
Investing.com - Gold prices slipped while the dollar gained on Thursday after the minutes from the latest Federal Open Market Committee meeting reinforced expectations for tighter U.S monetary policy.
Investing.com - Cryptocurrency prices were mixed on Thursday, while Binance announced a partnership with New York-based compliance software provider Chainalysis to add compliance tools.
U.K. Prime Minister Theresa May is considering a longer transition period as Britain attempts to break an impasse in talks to forge a new relationship with Europe's trade bloc. At a summit in Brussels on Wednesday, May told a 27-member panel of representatives of European Union nations that she was "ready to consider" extending a 21-month transition period following the U.K.'s exit from the EU at the end of March, according to reports in The Guardian on Thursday. The move is viewed as a conciliatory tactic by May as she attempts to navigate tense talks with EU officials following a closely watched dinner meeting in Brussels, which was referred to by European Council President Donald Tusk earlier in the week as May's "moment of truth." Fears that the U.K. was on the brink of severing its customs and trade partnership with the EU without a clear trade deal in place, have threatened to stoke volatility in domestic markets, if not ripple globally. A decision to delay the Brexit transition could see Britons abiding under EU rules until 2021 or longer. The Brextra time, as some critics have referred to it, has stoked anger among hardline constituents who had advocated for a May to follow through with Brexit and were against maintaining EU ties for longer. For months, the EU and U.K. have been at loggerheads over specifically over the issue of trade between the Republic of Ireland and the U.K.'s Northern Ireland. The British pound was at $1.3110, little changed against the U.S. dollar, compared with $1.3114 late Wednesday in New York.
Investing.com - The Chinese yuan slipped against the dollar on Thursday as the U.S. held off from labeling China as a currency manipulator.
Hawkish Fed minutes and Brexit uncertainty indicate the path of least resistance for GBP is on the downside.
The Euro is flatlining in early Thursday trading after a rough and tumble post-FOMC Wednesday. Wednesday was dollar’s day, with the American currency strengthening against all of its major rivals since London trading hours.
Gold markets went sideways during the trading session on Wednesday, as we continue to dance around high levels. After breaking above the $1220 level, we have seen a lot of sideways action as traders trying to digest the recent gains.