Moody's de Mexico S.A. de C.V (Moody's) downgraded today the State Of Durango's issuer ratings to Ba2/A2.mx (Global Scale rating/Mexican National Scale rating) from Ba1/A1.mx, and changed the outlook to negative from stable. Moody's also downgraded the rating on the State Of Durango's MXN 980 million enhanced loan from BBVA Bancomer to Baa2/Aa2.mx from Baa1/Aa1.mx. Moody's will withdraw the State Of Durango's issuer and debt ratings due to insufficient information on the next business day.
Crude Oil WTI Futures continued to climb the ladder amid OPEC-led supply cut fears. PM May stated that she will give MPs last chance to back her “new improvised deal”. EUR/USD pair uplifted on USD plunge.
Gold markets continue to try to grind lower, but there is obvious support just underneath. At this point, the market looks very likely to find a lot of support in the $1270 level. That being said though, we have been drifting a bit lower for a while so it’ll be interesting to see how we play out.
The US dollar’s rallied a bit against the Japanese yen during early trading on Tuesday, in a sign of strength yet again. This of course is a pair that is very sensitive to risk appetite globally so you have to keep that in mind.
The British pound initially spiked below the 1.27 level but as word got out that Theresa May has the backing of her cabinet on her “new Brexit deal”, the British pound got a bit of a boost. The question now is whether or not it can retain that report.
The British pound initially broke down below the ¥140 level but found enough buyers underneath the turn things back around. This of course is in direct correlation to the fact that Theresa May has the backing ever cabinet members for whatever new deal she’s about to propose.
The Euro fell slightly during the trading session on Tuesday, as we continue to simply meander around the 1.1150 level. This is essentially “fair value” in the consolidation area, so I’m not necessarily interested in trading quite yet but I do have levels that I am paying attention to.
The Australian dollar fell rather hard during the trading session on Tuesday, as we continue to see a lot of noise when it comes to the US/China trade war. Quite frankly, until that gets resolved the Australian dollar is going to be difficult to deal with.
The British pound on Tuesday momentarily strengthened against its main currency rivals, notably the euro and the U.S. dollar, as U.K. Prime Minister Theresa May made a final bid to pro-European Union members of parliament to support her deal to exit from Europe's trade bloc, which included the chance of a second referendum. May's Brexit deal has already been rejected three times by U.K. lawmakers, with the premier's latest effort being widely viewed as a last-ditch effort to get her Brexit deal passed, with the promise of a second referendum on Brexit, holding the potential to sway those lawmakers committed to remaining an EU member. May's comments, made at the end of a summit of EU leaders in Brussels, initially, took the British pound sharply higher against the the U.S. dollar and the euro , with a dollar buying $1.2754, up 0.2%, but it had been up $1.2813 at Tuesday's peak. The shared currency, meanwhile, was buying £0.8754, down 0.2%, but it had been as low as £0.8725, according to FactSet data.
Investing.com - Bitcoin renewed its bid to mount a sustained surge above the $8,000 handle on Tuesday, shrugging off a widely-expected delay by U.S. authorities on a bitcoin fund that many believe has the potential to be a game changer for the crypto industry.
(Reuters) - Euro zone consumer confidence rose by 0.8 point in May from the April number, figures released on Tuesday showed. The European Commission said a flash estimate showed euro zone consumer morale ...
The Turkish lira on Tuesday was retreating against the U.S. dollar as the government told local banks to slow process currency purchases, a fresh attempt to tamp down speculative bets on lira, according to reports.
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 an uptrending Gann angle at 1.1155.
The lack of safe-haven demand, higher yields and increased demand for risky assets should keep a lid on gold prices today. A potential upside breakout by the U.S. Dollar could also trigger a plunge in prices. Not only is the dollar being supported by rising rates and safe-haven demand, but weakness in the Euro and British Pound are also contributing to a firmer greenback.
The Loonie is getting dragged due to rising crude prices. During the Asian session, the pair had attempted to resist the downfall but failed to persist. Traders expect upside on the release of US Housing Data.
London markets shook off a weakening pound and a disappointing industrial orders figure to erase Monday’s decline. The U.K.’s FTSE 100 (UK:UKX) is higher at 7,366.1, rising 0.8% to more than wipe out Monday’s 0.5% decline.
The S&P; 500 rose 17 points or 0.6% by 9:44 AM ET (13:44 GMT), while the Dow gained 128 points or 0.5% and tech-heavy Nasdaq composite was up 66 points or 0.9%.
Potential gold investors are being left frustrated and sidelined by the yellow metal’s lack of momentum despite an escalating trade war, heightened concern about stability in the Middle East, recent stock market gyrations and the decline of bond yields towards an 18-month low.
Brexit tensions and positive Greenback playing tug-of-war with Cable, bringing it down significantly. UK PM Theresa May to discuss her “New Modified Deal” today.
Based on the early price action and the current price at 97.900, the direction of the June U.S. Dollar Index the rest of the session is likely to be determined by trader reaction to the downtrending Gann angle at 97.950.
Economic Calendar stays lighter amid lack of EUR-specific events. Meanwhile, Greenback traders staying bullish over the upcoming US Housing Data.