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.
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%.
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.
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. ...
Interest in cryptocurrencies has increased after the price skyrocketed to $20,000 in December. Some banks are exploring client interest in the virtual coins and a few hedge funds have already started trading the digital currencies.
Investing.com - The dollar took a breather on Tuesday after rising to seven week highs against a basket of the other major currencies, as a boost from rising Treasury yields faded.
Investing.com – Wall Street was set to rebound on Tuesday, as investors looked ahead to the latest flurry of corporate earnings and bond yields eased.The S&P 500 futures was up 15 and a half points or 0.58% to 2,686.75 as of 6:47 AM ET (10:47 GMT) while Dow futures increased 138 points or 0.57% to 24,552.0. Meanwhile tech heavy Nasdaq 100 futures rose 45 points or 0.67% to 6,712.0.U.S. stocks were lower on Monday after a decline in technology shares and concern about increasing bond yields. ...
The Mexican peso rallied versus the U.S. dollar on Tuesday, after Moises Kalach, head of trade for Mexican national business chamber CCE, said there was a 75% chance an agreement on the North American Free Trade Agreement would be reached in the next 10 days. Kalach's remarks, according to news reports, came after multiple officials from Nafta member countries, including President Donald Trump, indicated a potential agreement in principal could be reached in May. Nevertheless, the dollar slumped versus the Mexican currency in response to the news, last buying 18.7897 pesos, down versus 18.9407 pesos late Monday in New York.
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 a pair of Gann angles at 1.2213 and 1.2201.
Based on the early trade and the last price at $1327.60, the direction of the gold market today is likely to be determined by trader reaction to yesterday’s close at $1324.00.
The U.S Dollar has been strong as 10-year Treasuries in the States have climbed towards a 3% yield.
Investing.com - Gold prices pulled away from two-week lows on Tuesday, but struggled to make headway as a stronger dollar continued to weigh on demand for bullion.
Even after printing the lowest levels in more than seven-weeks, the EURUSD is struggling with 100-day SMA, at 1.2210 now, in order to revisit the 1.2165-55 horizontal-support. Should the pair fails to register a daily closing below 1.2210, it can bounce-back to the 1.2240 and then to the 1.2275-80 resistances. In case if the recovery stretches beyond 1.2280, the 1.2300 and the 50-day SMA level of 1.2330 could challenge the buyers ahead of fueling the pair towards 1.2400 mark. Given the pair’s D1 close below 1.2210, followed by the 1.2155 clearance, it can slump to the 1.2090 and the 1. ...
Investing.com - The dollar was holding steady near seven week highs against a basket of the other major currencies on Tuesday, boosted by rising Treasury yields.
French industrial morale dipped in April, reflecting concerns elsewhere in the euro zone that growth in the bloc is weakening as the impact of a stronger currency starts to bite. "There's definitely a slowdown, and the euro is not helping. The European Central Bank is stuck in a corner.