Investing.com - Gold prices fell on Wednesday, nearing their recent two-week lows as a stronger dollar and rising Treasury yields weighed on demand for the precious metal.
Investing.com - The U.S. dollar rose to seven-week highs against a currency basket on Wednesday, driven by rising Treasury yields with the U.S. 10-year bond yield reaching its highest level since early 2014.
The European Central Bank meets for its policy-setting meeting on Thursday and the big question on traders’ mind is when President Mario Draghi & Co. will put an end to its aggressive bond buying program ...
Investing.com – Cryptocurrency prices were mixed on Wednesday. Reports that Chinese polices confiscated computers used to mine Bitcoin gathered some focus. Meanwhile, PayPal’s former CEO Bill Harries called Bitcoin a scam.
Gold prices are trading sharply lower early Wednesday and the market has nearly erased all of yesterday’s gains. All it took was a recovery in the U.S. Dollar and an upturn in U.S. stock index futures to attract sellers.
Investing.com - Gold prices dropped on Wednesday morning as the dollar was driven higher by the 10-year U.S. treasury yields that surged to a four-year high at 3%.
The U.S Dollar’s surge was halted on Tuesday as the Yen, Euro and Pound held their ground after three straight sessions of downward pressure in forex.
Investing.com – The dollar was driven higher against other major currencies in Asia on Wednesday morning as the yields on 10-year U.S. Treasuries topped 3%, increasing prospects of inflation. The yen and the Aussie were both weighed down by the yield-fueled greenback.
Gold markets rallied a bit during the trading session on Tuesday, as the $1320 level continues to offer a bit of support. It looks as if we could try to grind higher from here, but it is going to take some work to build up the momentum necessary to go higher. I believe the pullbacks continue to be buying opportunities, as this is a market that has plenty of support underneath.
The US dollar has rallied during the trading session on Tuesday, as we have more of a “risk on” attitude around the markets. We clear the 109 level, which is a very bullish sign. There is also a significant amount of support underneath, so I think that the market retains a healthy attitude.
The US dollar has done very little against the Canadian dollar during the trading session on Tuesday, which is not much of a surprise considering that we have had such a strong move higher in a short amount of time. It looks as if we currently have a significant amount of support underneath though, so I do think that the buyers will be looking for value if it appears.
The New Zealand dollar initially tried to rally during the trading session on Tuesday, but then fell over again. It looks as if we are going to continue to see a bit of choppiness with the downward proclivity in the short term.
The British pound rallied against the Japanese yen during the trading session on Tuesday, as we had a bit of a “risk on” move, sending the Japanese yen lower overall. Ultimately, this market looks as if it is trying to go much higher, so it’s likely that the pair could go much higher.
The EUR/USD pair has been very noisy in general, and it looks likely that the 1.22 level is starting to offer signs of support. I believe that the market will probably continue to pay attention to this area, because it is the bottom of a consolidation area that has been in effect for several months.
The EUR/GBP pair has gone back and forth during the session on Tuesday again, as we continue to chop around overall. The market has a lot of headline risk built into it, and I think that is going to continue to be one of the major issues.
The EUR/USD mounted a comeback throughout the session as buyers came in to defend the annual low reached in January. The inability to break the Euro through this low may have fueled Tuesday’s short-covering rally.
U.S Treasury yields could see the markets take a turn, though geo-politics will likely take the limelight through the day, with economic data on the lighter side.
Investing.com – Gold prices were on track to snap a four-day losing streak after the rally in U.S. treasury yields paused, weighing on the dollar which eased from two-month highs.
Investing.com – The dollar eased from two-month highs against a basket of major currencies as U.S. bond yields retreated from multi-year highs but sentiment on the greenback remained positive amid upbeat economic data.
Gold prices rebounded on Tuesday attempting to recapture resistance which is former support near an upward sloping trend line that comes in near 1,332. Target support is seen near the April lows at 1,320. Momentum on gold prices is negative as the MACD (moving average convergence divergence) histogram prints in the red with a downward sloping trajectory which points to lower prices.
The ECB lending survey showed easier lending conditions while the German IFO tumbled in April. French business confidence declined while the ECB’s Villeroy told banks to prepare for a recession. Target support is now seen near the March lows at 1.2154. Momentum is negative as the MACD (moving average convergence divergence) histogram prints near the zero index level with a flat trajectory which points to consolidation.
Investing.com - Wall Street was higher on Tuesday, despite rising bond yields, as investors look to corporate earnings releases.The S&P 500 was up over 10 points or 0.41% to 2,681.22 as of 9:45 AM ET (13:45 GMT) while the Dow composite increased 96 points or 0.40% to 24,545.59 and tech heavy NASDAQ Composite rose 32 points or 0.46% to 7,161.55.Investors have shrugged off worry over rising bond yields, with the 10-Year note reaching its highest level in four years, as inflation has added to expectations of continued rate hikes from the Federal Reserve. ...