The euro feels pressure after a disappointing round of purchasing managers index readings point to further weakness in eurozone activity.
European stocks were down on Thursday ahead of the Easter break, as yet more indicators pointed to malaise in the region’s economy. In the U.K., the FTSE 100 (UK:UKX) lost 0.2% to 7457.02 after finishing flat the previous day, while Germany’s DAX fell by 0.3% to 12,122.03 and France dipped 0.4% to 5,542.17. Italy’s FTSE MIB (IT:I945) was the biggest loser among regional indices on Thursday, swooning 0.6% to 21,873.95.
The Litecoin (LTC) market seems to be falling off a cliff following its most recent rally. Litecoin is currently trading at around $79 after a 5% drop since last week. As mentioned earlier in the week, LTC has seen exponential growth since the beginning of March, leading the current mini bull run with a massive 40% increase in price. However, it seems LTC has now started to consolidate closer to its 200-day EMA. Looking at the chart above, the 200-day EMA has already crossed both the 50 and 20-day EMAs, and LTC is still trading above that support level, which sits at around $68. The 50-day EMA, which sits at around $58, is also showing strong support for consolidation above The post Latest Litecoin price and analysis (LTC to USD) appeared first on Coin Rivet.
The pair remained silent in the last couple of sessions amid lack of Brexit headlines. The Fundamentals may try to push down the GBP/USD but, the Technicals seem to come for rescue.
Unfortunately for equity investors, the surprisingly robust China GDP data failed to ignite a rally on Wall Street as US investors turn focus to domestic concerns.
The rebound in China’s economy did little to excite investors despite GDP, retail sales, industrial production, and fixed asset investments all showing signs of improvement.
Investing.com -- U.S. stock markets were set to open lower on Thursday, after weak European data and reports of a new North Korean weapons test challenged assumptions that the macro backdrop is changing for the better.
The pair had risen yesterday following strong Chinese macro data. Today, it needs something more of power to impress the euro bulls.
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. To keep the lesson grounded in practicality, we'l...
Investing.com -- The euro is trading sideways against the dollar early Thursday in Europe, awaiting what are likely to be market-moving business surveys from around the region.
According to the Australian Bureau of Statistics, the Employment Change in March showed the economy added 25.7K new jobs versus an estimate of 15.2K. This was also well above the February number at 4.6K. The Unemployment Rate was 5.0%, the same as the forecast. This was up slightly from the previously reported 4.9%.
Based on the early trade, the direction of the AUD/USD on Thursday is likely to be determined by trader reaction to the price cluster at .7154 to .7153.
February’s employment report was mixed and in this week’s Reserve Bank of Australia minutes, the central bank didn’t sound too excited about the upcoming report. In the minutes, the RBA said that an uptrend in the unemployment rate would open the door to a rate cut.
Investing.com - Gold prices fell on Thursday in Asia as upbeat Chinese economic data pointed to an improved growth outlook and put pressure on the safe-haven metal.
The euro was buoyant on Thursday after more evidence of strength in China improved the outlook for the global economy, with the market looking next to European indicators to provide the currency with a further boost. The euro was a shade higher at $1.1298, having eked out a gain of 0.1 percent the previous day. The single currency has steadily recovered from a recent low of $1.1183 plumbed at the start of April.
Based on the early price action and yesterday’s close at 112.077, the direction of the USD/JPY on Thursday is likely to be determined by trader reaction to yesterday’s high at 112.170.
Investing.com - The Australian dollar rose on Thursday in Asia on stronger-than-expected jobs data for March. The euro also inched up ahead of the release of euro zone PMI data later in the day.
Based on yesterday’s close and the current price at .6725, the direction of the NZD/USD on Thursday is likely to be determined by trader reaction to the major Fibonacci level at .6725.
The loonie touched the month low near 1.3272 levels amid influential Canadian CPI figures. GBP/USD doused in plunge as events came out below-expectation. This time, the EIA reported a negative US Crude Inventory data.
Gold markets initially tried to rally during the trading session on Wednesday but gave back the gains to test the crucial support level that I have marked on the chart.
The US dollar continues to face resistance against the Japanese yen, as the ¥112 level has been crucial. If we break down, there is significant support just below as well. In other words, we are essentially stuck in a bit of a range.
British pound traders were a bit bored during trading on Wednesday, as the market simply isn’t going anywhere. When you look at the longer-term charts though, you can see that we are in consolidation but drifting lower.