Eurasia Group Europe analyst Federico Santi says that a euro zone exit is not on the agenda, at least for the time being, for the next Italian government.
Investing.com – Gold prices rose from lows on Monday on dollar weakness but remained under pressure amid easing trade war fears and signs of waning demand for the yellow metal.
The U.S. dollar retraced its gains late Monday after having surged to its loftiest level since late last year, as investors read the most recent development between U.S. and China as evidence of easing trade animosities.
Investing.com – The dollar eased from fresh five month highs as gains on the back of abating trade war fears were offset by a recovery in the euro from multi-month lows.
Following unusual calm in 2017, market volatility has increased this year primarily due to uncertainty about U.S. interest rates and increased trade tensions. The Trump administration is seeking to fulfill campaign pledges about reducing the U.S. trade deficit via bilateral negotiations with key trading partners, and the announcement in March that the U.S. government intended to impose duties of 25% and 10%, respectively, on imports of steel and aluminum triggered a sell-off in global equity markets. Meanwhile, the administration’s focus has shifted to China, which runs the largest bilateral trade surplus with the U.S. ($375 billion in 2017). China is also the subject of complaints by U.S. businesses about unfair trading practices relating to technology transfer, intellectual property rights and foreign investment.
The dollar was stead as trade tensions between the U.S. and China were put on hold. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.12% to 93.69 as of 11:30 AM ET (15:30 GMT). The trade war between the U.S. and China is “on hold” as the two work on a trade agreement, U.S. Treasury Secretary Steven Mnuchin said on Sunday.
Investing.com - Gold prices were paring losses in midmorning trade on Monday as investors evaluated mixed messages with regard to U.S. trade.
Investing.com – Wall Street opened higher on Monday, as China and the U.S. agreed to put trade tariffs on hold.The S&P 500 was up 22 points or 0.82% to 2,735.25 as of 9:42 AM ET (13:42 GMT) while the Dow composite increased over 291 points or 1.18% to 25,006.94 and tech heavy NASDAQ Composite fell 72 points or 0.99% to 7,427.26.The trade war between the U.S. and China is “on hold” as the two work on a trade agreement, U.S. Treasury Secretary Steven Mnuchin said on Sunday. The two countries had been engaged in a tit-for-tat over tariff disagreements over the last few months. ...
Investing.com – U.S. futures were higher on Monday, as the U.S. and China agreed to put tariffs on hold as they negotiate a trade agreement.The S&P 500 futures was up 16 points or 0.60% to 2,729.25 as of 6:44 AM ET (10:44 GMT) while Dow futures increased 231 points or 0.93% to 24,952.0. Meanwhile tech heavy Nasdaq 100 futures rose 49 points or 0.71% to 6,923.00.The trade war between the U.S. and China is “on hold” as the two work on a trade agreement, U.S. Treasury Secretary Steven Mnuchin said on Sunday. ...
In the last few days, talks in Italy to form a government between the populist 5 Star Movement (led by Luigi di Maio) and the far-right Lega (led by Matteo Salvini) have intensified. A draft agreement that includes conceptual economic policies leaked earlier this week, prompting criticism from the European Union and a negative reaction in the bond market. Since the elections on March 4, different potential coalitions have come close to forming governments, and these talks could also still collapse.
Italy’s two largest antiestablishment parties are ready to present their prime minister candidate to President Sergio Mattarella on Monday, moving one step closer to forming a government that analysts fear could plunge the country into a sovereign debt crisis and threaten the future of the eurozone. On Sunday, the populist 5 Star Movement and far-right anti-immigrant League party agreed on the main members of their cabinet, including who they’d like to see as prime minister in their coalition government. Mattarella is expected to confirm the coalition, paving the way for a euroskeptic government to lead the eurozone’s third largest economy.
Based on the early trade, the direction of crude oil the rest of the session is likely to be determined by trader reaction to the short-term pivot at $71.31.
The trend is down and momentum is down. If this continues over the near-term then we could see an eventual break into the December 12 bottom at $1247.20.
Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to Friday’s close at 1.1773.
Investing.com - Gold prices moved lower in early morning European trade on Monday as U.S. Treasury Secretary Steven Mnuchin said a day earlier that a trade war between China and the U.S. is now on hold, reducing the demand for safe haven assets.
The National Committee of Experts on the Internet Financial Security Technology (IFCERT) started by the Ministry of Industry and IT of China has tracked down 421 “fake” cryptocurrencies, 60% of which were run by overseas servers making their detection difficult. IFCERT has been specially created by the country to keep an eye on the discrepancies in […] The post China’s IFCERT Tracks Down 421 Fake Cryptocurrencies; 60% Run By Overseas Servers appeared first on Market Exclusive.
A combination of factors is likely to keep the pressure on gold prices including a bearish technical chart pattern, rising U.S. interest rates, a stronger U.S. Dollar and the easing of geopolitical tensions.
The GBP/USD went exactly as expected both on my LIVE trading webinars and FXstreet poll. It was a bit messy due to Megaphone pattern so we could have traded it both to the long and short side, but things have become more evident due to Head and Shoulders. 1.3425-35 and 1.3455-75 are POC zones, and we might expect rejections if the price retraces. A 1h or 4h close below 1.3400 could aim for 1.3353 and 1.3311 during the course of the week.
Global stocks are mostly higher on Monday morning as investors respond to US Treasury Secretary Steve Mnuchin positive interview. US dollar continues to strengthen.
Bitcoin Gold is definitely priced to better take advantage of the upcoming breakout, whichever direction it may be.
Investing.com – Cryptocurrency prices gained on Monday, with Bitcoin and Litecoin trading about 3% higher. Reports that the fourth largest crypto exchange Bitfinex is giving out its customers’ data to the government received some attention.
Investing.com – The dollar opened the week rallying against the other major currencies in Asia, climbing to a fresh new high this year. Risk appetite revived as the trade war between the world’s two biggest economies is put “on hold”.
Weakness continued through the Friday’s session as the pair sliced through the 1.1775 level indicating further downward pressure in the market in coming sessions. The pair recently bounced higher but the traders are more interested in picking value in the greenback. On the weekly chart, it has broken below the bottom of a hammer from the previous week, which is an extremely negative sign and 1.15 level underneath is the hard support of this market. …Read MoreGBP/USD