Investing.com - The U.S. dollar was on the backfoot on Wednesday, as markets awaited signals from the Federal Reserve on its plans for next year.
Investing.com - Gold prices were flat on Wednesday in Asia as traders awaited cues on the rate hike paths of the U.S. Federal Reserve from its two-day policy meeting.
Investing.com - Cryptocurrency prices surged for the second day, with Bitcoin approaching the $4,000 mark after gaining more than 10% this week.
Sterling’s lift faces plenty of resistance in the near-term, with major technical levels and Brexit headlines both weighing on the GBP.
Investing.com - The U.S. dollar slipped on Wednesday in Asia as the Federal Reserve got its two-day meeting underway.
With the main trend down and based on the earlier price action, the direction of the AUD/USD is likely to be determined by trader reaction to the Fibonacci level at .7163. Basically, look for an upside bias to develop on a sustained move over .7207, and for the downside bias to resume on a sustained move under .7163.
EURUSD Trades range bound having failed to sustain momentum above 1.14 handle hit yesterday but bullish bias remains high in market on broad based USD sell off ahead of US FOMC Update.
The Greenback is hit early with sentiment towards today’s FED decision sitting on the dovish side, expectations being particularly mixed this time around.
Investing.com - Every Federal Reserve meeting is important, but the current session will probably be the most telling since the March meeting that decided this year's first rate hike. Consequently, gold traders hedged themselves on Tuesday with a slightly higher price move, awaiting the outcome.
The U.S. dollar was struggling for direction on Tuesday, having clawed back some ground as the session went on after softer risk sentiment ahead of the impending Federal Reserve policy update and weaker global stocks struggled initially dragged the currency down.
Gold prices are testing resistance levels ahead of the Fed meeting on Wednesday. While the market widely expects the Fed to raise rate by 25-basis points, it also does not see multiple rate hikes moving forward in 2019. The 2-year yield tumbled on Tuesday by 5-basis points printing at 2.65%, which is the lowest its been since September. With the Fed moving rates to a range of 2.25 to 2.50, the markets barely have any rate hikes, and believe the Fed will begin to cut rates in 2020.
Italy's government has reached an accord with the European Union regarding its controversial budget proposal for 2019, which may avert a clash with officials of Europe's trade bloc, according to reports. Rome's draft budget proposal earlier this year drew a swift rebuke from Brussels because it would have resulted in a budget deficit of 2.4% of gross domestic product, running afoul of EU membership rules. This led to the EU launching a so-called "excessive deficit procedure" against Italy in November, and caused investors to fret about the health of the eurozone's third-largest economy and the stability of the EU more broadly.
Investing.com - Gold prices were little changed on Tuesday as traders turned their attention to this week’s Federal Reserve monetary policy meeting.
Investing.com - The U.S. dollar was lower on Tuesday as investors waited for news from the Federal Reserve’s latest policy meeting.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.14% to 96.41 as of 10:23 AM ET (15:23 GMT), after an overnight high of 96.63.With the Fed expected to increase rates by 25 basis points for the fourth time this year on Wednesday, investors will be watching for any new comments on possible policy changes in 2019. ...
Gold markets ran into resistance during the day on Tuesday as we await the crucial Federal Reserve meeting. If there are is quite a bit of speculation out there as to what the Fed is going to do next, beyond the known interest rate hike coming. If the statement afterwards is a bit dovish though, that could get the gold market moving.
The US dollar fell again during trading on Tuesday, testing a major trendline that I have been talking about for a while. Underneath that trend line, there is the 200 day moving average, and the ¥112 level. Both of those could be significant, so the next couple of days are going to be very interesting.
The British pound has rallied significantly during the trading session on Tuesday, slamming into the psychologically and structurally important 1.27 handle. This of course is a major area of both support and resistance, so it will be interesting to see where we go next.
The British pound went back and forth during the day on Tuesday, as we continue to have a severe lack of understanding as to where to go next. Quite frankly, rally should be looked at as an opportunity.
The Euro tried to rally during the trading session on Tuesday, reaching towards the 1.14 handle where it failed. This isn’t much of a surprise though, as we have been compressing the overall range for several weeks.
The Australian dollar try to rally during the day on Tuesday, but gave back most of the gains, only to turn around and show signs of weakness yet again. At this point, it’s likely that the market participants continue to sell rallies, as the US/China situation continues to dominate the market.
Asian equities slumped across the board following a massive sell-off in the US market. The US market was able to stage a significant rebound on Tuesday as all sectors move higher.
With the Fed widely expected to deliver its fourth rate hike this year at the conclusion of its two-day meeting on Wednesday market moves will be guided by its forward guidance.
London stocks were down on Tuesday, as crude oil prices drop to a fresh low and investors wait nervously for the start of the two Federal Open Market Committee meeting