Bitcoin prices held on to Monday’s gains but failed to get a further bump after news Fidelity, the financial services giant, would begin offering crypto trading and custody services for hedge funds and sophisticated investors. “This is a huge step forward in mainstream adoption of cryptocurrency,” wrote Bruce Elliott, president of ICOx Innovations, a cryptocurrency rewards and payments system. This is a signal that financial markets and regulators are gaining clarity and comfort on the outlook for trading cryptocurrencies,” he said.
Major currencies like the U.S. dollar and the euro were muted Tuesday, while the British pound led developed market gainers on the back of supportive wage data.
Market worries about a “no-deal” Brexit are on the rise again after negotiations between London and Brussels hit a hurdle last weekend. What’s it mean for British pound?
Given the two inside moves, trading between Friday’s high at 1.1612 and low at 1.1535 will continue to signal investor indecision and impending volatility.
Subdued USD demand fails to assist build on overnight rebound , while weak crude oil price helped limit sharp downward slide.
Traders are monitoring the geopolitical tensions over the disappearance of the Saudi Arabia journalist, however, so far the news has been limited to the political sphere. Traders essentially want to know if the Saudis are responsible. How the U.S. will respond if they are and whether there will be any retaliation from Saudi Arabia.
Even after recovering from 1.1430-25 support-zone, the EURUSD has to surpass 100-day SMA level of 1.1630 in order to justify its strength in targeting the seven-month long descending resistance-line, around 1.1730. Should prices rally beyond 1.1730 on a daily closing basis, the 1.1810 & 1.1850 are likely intermediate halts that can be availed prior to aiming the 1.1920 level, comprising 200-day SMA. In case the pair witness downside pressure, the 1.1520, the 1.1500 and the 1.1430 may entertain short-term sellers before again highlighting the importance of 1.1430-25 area. ...
The head of the Eurogroup of euro zone finance ministers Mario Centeno said on Tuesday Italy's budget plans targeting a higher deficit than demanded by Brussels should not be overestimated in terms of their impact on the euro and countries using the single currency. Italy's budget is just one of those moments and events.
The USD/JPY has formed a possible bearish continuation pattern if it closes below the W L3 support at 111.63. However, a correction is still possible.
Last week, DAX broke the long-term neckline of the major head and shoulders pattern. This week starts with a pull-back, which is nothing surprising as this is a typical price action movement. Any bearish price action there will give us a legitimate signal to go short.
BRUSSELS (Reuters) - Italy's budget for next year is a hot topic but is not on the agenda of a summit of European Union leaders this week, a senior European Union official said on Tuesday. Euro zone leaders ...
A cautious tone is likely to reverberate across financial markets this week as ongoing trade disputes, global growth fears and geopolitical tensions keep investors on edge.
The gold prices broke above the $1230 level in the Monday’s session as weak USD is supporting the market. The market is likely to continue going towards the $1250 level and $1220 level underneath will be offering a strong support to the market. The gold prices will continue to gain amid the uncertain global conditions and pullbacks will be a nice buying opportunity.
NEW DELHI (Reuters) - India may look to raise 200 billion rupees ($2.71 billion) in 2018/19 fiscal year via buyback of shares in state-run companies including Oil and Natural Gas Corp Ltd (ONGC), local ...
The initially gapped lower during the Monday’s session in a bit of risk-off move, but then started to rally higher as American came on board. The 1.16 level is continuing to offer a bit of resistance to the pair and if it breaks higher then it next major stop for the market will be at 1.17 level. The market is still in the consolidation phase and 1.15 level underneath will be the strong support point for the pair. Buying on dips will be the right strategy for this market. …Read MoreGBP/USD
Gold trades flat near yesterday’s high’s as profit booking activity dampens price action for dollar denominated yellow metal in broad market amid risk averse market scenario.
Forget revenue and profits, India’s largest e-commerce firms seem to believe the height of Dubai’s Burj Khalifa is a fair metric to measure their performance. At the end of their annual flagship festive season sales, the online retailers, notorious for their window-dressing metrics like gross merchandise value (GMV) and net promoter scores, measured their success…
Tuesday’s UK earnings report to be a quick flash in the pan with Brexit angst looming overhead.
The EUR’s repeated failure to climb 1.16 is a slight cause for concern for the EUR bulls.
Based on the early price action, the direction of the AUD/USD the rest of the session is likely to be determined by trader reaction to the uptrending Gann angle at .7112. This angle has been guiding the market higher since October 5.
Bitcoin holds on to $6,700 levels after an early dip, but with Monday’s price action over and the markets steadying, there could be some downside ahead.
Based on the current price at 111.990, the direction of the USD/JPY the rest of the session is likely to be determined by trader reaction to the short-term Fibonacci level at 111.984.
Gold markets continue to levitate overall, showing signs of strength during the day on Monday. I think that the gold market continues to find strength due to the uncertainty around the world, and the “safety trade” that seems to be in effect.
The US dollar broke down below the ¥112 level during the early hours of Monday but has found a little bit of support near the ¥111.50 level, an area of previous resistance. At this point, it looks as if we are trying to form some type of bottoming pattern, but I think you should be very cautious if you are looking to go long.
The British pound gapped lower to kick off the week against the greenback, but by the time the Americans came on board had fill that gap it looks likely to continue to try to go towards the recent highs.