BRUSSELS (Reuters) - Euro zone consumer confidence rose in January from a sharply revised December number, figures released on Wednesday showed. The European Commission said a flash estimate showed euro ...
Risk-sensitive currencies recovered some on Wednesday, a day after risk appetite faded on the back of further worries about the possibility of a U.S.-China trade deal, as well as global growth.
Cryptocurrency prices are trading mostly unchanged on Wednesday, led by the No.1 digital currency, which is oscillating on either side of $3,600.
LONDON MARKETS Shares of London-listed challenger bank Metro Bank PLC (UK:MTRO) plunged 28% on Wednesday, following poor fourth-quarter earnings, while continued uncertainty over global trade weighed on the broader U.
The gold prices are back above the $1280 level, as it is witnessing strong support and buying at the lower level. The market is likely to continue gaining momentum and will eventually break above the $1300 level, which would be an extremely bullish development. Underneath, the 50 and 200 Day EMAs are providing strong support to the gold prices. …Read MoreSilver
The Euro has stabilized just above the 1.1350 level and is testing a short uptrend line. If it manages to break above the 50 Day EMA, which is offering a stiff resistance, then it can reach much higher towards the 1.15 level. The 1.27 level underneath is a strong support point for the pair and is unlikely to be broken unless there is a drastic change in fundamentals.
Investing.com - Gold prices dropped on Wednesday as investors opted to rotate out of the safe-haven asset in favor of stocks after a handful of Dow components reported better-than-expected quarterly earnings.
Demand for safe-haven assets is expected to remain steady across the week owing to investors caution surrounding Sino-U.S. trade talk proceedings and global growth worries.
U.S existing home sale slid by 6.8% in December. While application numbers point to a rebound, beyond January may be another story…
British Pound steady above 1.29 as bulls retain most gains from previous session owing investor optimism on possible soft deal brexit.
Investing.com - U.S. futures pointed to a rebound at the open after reports that the Senate will vote Thursday on rival proposals to end the partial shutdown of the federal government while better-than-expected results from Dow components boosted sentiment.
The main focus for gold traders will be demand for risky assets and U.S. Treasury yields. Higher demand for risk and rising interest rates will keep a lid on gold prices and could trigger further weakness. Lower demand for risky investments and safe-haven buying of Treasurys will be supportive for gold prices.
Having recovered from multi-week lows during the overnight trading session, the pair is expected to continue range-bound price action ahead of tomorrow’s ECB MPC update.
We could be looking at a mixed market on Wednesday with the NZD/USD continuing to strengthen on the inflation news and the AUD/USD weakening on U.S. – China concerns.
With inflation stubbornly weak and issues developing with the slowing global economy, the Bank of Japan is widely expected to leave interest rates unchanged at this week’s meeting. After the release of the BOJ’s decisions, traders will go back to watching for any more clues regarding the slowing global economy. If the meeting between the U.S and China, scheduled for January 30-31, is officially canceled then this could trigger a flight to safety rally in the Japanese Yen.
With trade data out of Japan reflecting the slowdown in Asia, Capitol Hill, the Oval Office and Parliament will be in focus through the day.
The New Zealand Dollar is trading higher against the U.S. Dollar early Wednesday in reaction to data which showed that consumer inflation edged higher in the fourth quarter, dimming the possibility of an interest rate cut. The Dollar/Yen is recovering from yesterday’s weakness, primarily due to the slight recovery in U.S. equity markets. Short-covering ahead of the Bank of Japan’s interest rate decision is also taking place.
Investing.com - The U.S. dollar was holding steady against a basket of its rivals on Wednesday and the yen was broadly lower as risk sentiment improved, but concerns over slowing global growth and U.S.-China trade tensions looked likely to keep gains in riskier assets in check.
Based on the early price action, the direction of the NZD/USD the rest of the session is likely to be determined by trader reaction to the 50% resistance cluster at .6778 to .6781.
Investing.com - Gold prices were little changed on Wednesday in Asia despite an uptick in uncertainty surrounding the U.S.- China trade talks. Weak global economic data also remained in focus.
Investing.com - The Japanese yen traded lower on Wednesday in Asia as risk aversion eased, but disappointing Japanese trade figures underlined the need for continued support for the trade-dependent economy.
Bitcoin prices slip to a five-week low below $3,500 over the weekend, dragging down the collection of smaller digital currencies known as altcoins.
While the U.S. dollar remains muted and the haven Japanese yen gains on the back global growth and trade worries, the Brexit-ridden British pound climbs to lead currency gainers on Tuesday.
Gold markets pulled back a bit during the day on Tuesday but seem to be hanging on to the $1280 level, an area that I thought could be supportive. Because of this, I think we are now looking at a possible return to consolidation.