NEW DELHI (Reuters) - The fall in the rupee was due to external factors and there was no need to worry at this stage, a senior finance ministry official told television channels on Tuesday. The external ...
MUMBAI (Reuters) - The rupee erased early gains to hit an all-time low of 70.1 per dollar on Tuesday, as concerns about Turkey's economic woes persisted. The rupee was last at 69.99 to the dollar, compared ...
Investing.com - Asian markets were mixed in morning trade on Tuesday as investors continued to digest the impact of the economic uncertainty in Turkey.
Investing.com - Litecoin was trading at $52.455 by 21:10 (01:10 GMT) on the Investing.com Index on Tuesday, down 13.18% on the day. It was the largest one-day percentage loss since March 9.
Investing.com - Metal prices were rocked by Monday as gold fell to a 17-month low, pressured by rising geopolitical uncertainty and a stronger greenback.
Gold prices took it on the chin on Monday, moving lower as concern about Turkey’s currency crisis is buoying the dollar and weighing on gold. The Yuan, the Chinese currency continues to also decline which appears to be correlated to the decline in gold. Gold prices crashed through support which is now resistance near 1,204, which coincides with the August lows and the July 2017 lows. The next level of target support is seen near the January 2017 lows at 1,180.
Other metals were mostly up on the Comex, with silver futures falling 0.75% to $15.180 a troy ounce. Among other precious metals, platinum futures slumped 2.62% to $807.90, while palladium futures decreased 0.83% to $894.10 an ounce. Copper futures rose 0.24% to $2.749 a pound.
Bitcoin came perilously close to breaking below $6,000 over the weekend, trading to $6,008.68 on Saturday morning in New York.
The S&P 500 rose 2 points, or 0.10%, to 2,836.18 as of 9:42 AM ET (13:42 GMT), while the Dow increased 12 points, or 0.05%, to 25,326.10 and the tech-heavy Nasdaq Composite gained 17 points, or 0.23%, to 7,857.06.
Investing.com - After weakening to 13-month lows the euro clawed back above the $1.14 level on Monday, as Turkey’s lira pulled away from record lows against the dollar, but still held heavy losses for the day.
European stocks fell as investors remain focused on Turkey’s perilous financial condition and as Bayer shares plunged following a U.S. court ruling against the company’s Monsanto unit.
Cryptocurrencies, overall, were slightly lower on Monday. The coin market cap of total market capitalization was at $217 billion at the time of writing, compared to $232 billion on Friday.
Although the CFTC Commitment of Traders report is a lagging indicator and difficult to use over the short-run, it can be a handy trend and contrarian indicator when used correctly with well-established trends or in markets at extreme long-term highs or lows.
Based on the early price action, the direction of the December Comex gold futures contract the rest of the session is likely to be determined by trader reaction to the short-term downtrending Gann angle at $1214.70.
Investing.com - U.S. futures pointed to a lower opening bell on Monday, as the economic crisis in Turkey rattled global markets.The S&P 500 futures fell 7 points, or 0.26%, to 2,829.50 as of 6:50 AM ET (10:50 GMT) while Dow futures slumped 74 points, or 0.29%, to 25,257.0. Meanwhile tech heavy Nasdaq 100 futures decreased 19 points, or 0.26%,to 7,407.50.The Turkish lira was slightly higher on Monday after Turkey’s central bank pledged to provide liquidity and cut reserve requirements for Turkish banks. ...
Investing.com - Emerging market currencies were hit on Monday, as turmoil gripping financial markets over Turkey’s currency crisis drove investors into safe haven currencies, including the U.S. dollar, yen and Swiss franc.
Based on the early price action, the direction of the EUR/USD the rest of the day is likely to be determined by trader reaction to the steep downtrending Gann angle at 1.1388. If the market continues to follow this angle then look for a move into the July 5, 2017 main bottom at 1.1312 by August 14.
Investing.com - The euro was trading at more than one-year lows on Monday as a crash in the Turkish lira roiled global markets amid fears that the country’s financial crisis could spread to European markets.
Investing.com - Gold prices traded lower on Monday, with spot prices hitting a 17-month low, as concerns over the crisis in Turkey sent investors flocking to the dollar, dampening demand for the precious metal.
Last week was great for the USD. Dollar Index made new long-term highs and the EURUSD broke important supports. On almost all instruments with the USD, we can find interesting setups. Today, we present you the USDCAD, where the buy signal is still relatively fresh.
USDCAD range bound as decline in the Turkish Lira now seems to have come to a pause while bearish factors on Loonie’s end failed to boost US Greenback.
Based on the price action by the dollar and gold, it doesn’t look like the Turkish government has done enough to convince traders that it’s making the right moves. And with money managers willing to press gold lower even at multi-year lows, it looks as if the bears will continue to exert their power today. Even if there is an intraday short-covering rally, it will probably be fueled by technical factors which means gold bears will be waiting to re-short at more favorable price levels if the fundamentals don’t improve.