CRYPTOS Bitcoin prices tumbled to a fresh 15-month low on Thursday as the digital currency rout continued. Bitcoin (BTCUSD) fell to $3,230.00, down 6.1% since Wednesday at 5 p.m. Eastern Time on the Kraken exchange—its lowest level since Sept.
Investing.com - With just four trading sessions separating gold bugs from the most anticipated closing event of the year (the December Federal Reserve meeting) price swings have become almost non-existential in the yellow metal, with Thursday's 0.2% retreat again showing how muted things could get.
The euro slipped earlier in the session, after European Central Bank President Mario Draghi sounded more downbeat than expected in the central bank’s last news conference of the year. The ECB left interest rates unchanged, as expected, and confirmed it would wind down its quantitative easing efforts at the end of the month. “The slightly dovish tone of the update put pressure on the single currency,” said David Madden, market analyst at CMC Markets.
Gold prices edged lower on Thursday as import prices moved lower and jobless claims tumbled. The dollar was also mixed making it difficult to get a gauge on gold prices. As trade discussing with China continuing to improve the risk off trade which helped buoy gold prices is abating.Technical Analysis
Mario Draghi says the European Central Bank is confident on the outlook for inflation but signals caution on the economic outlook as the institution pulls the plug on monthly asset purchases, the centerpiece of its quantitative easing program.
Investing.com - The U.S. dollar was higher on Thursday, as the number of people who filed for first-time unemployment benefits hit a two-and-a-half month low.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.19% to 97.20 as of 10:18 AM ET (15:18 GMT).The dollar was boosted after the U.S. Department of Labor said that the number of individuals applying for initial jobless benefits in the seven days ended Dec. 8 decreased by 27,000 to a seasonally adjusted 206,000. ...
Investing.com - Despite the fact that the European Central Bank decided to pause on its asset purchase program, its president, Mario Draghi, warned that risks were leaning to the downside, sending the euro briefly to intraday lows.
Gold markets continue to look like they are trying to break out to the upside, but we are in an area of major resistance at the same time.
The US dollar continues to grind a bit higher during the trading session on Thursday, as the Japanese yen continues to soften. However, we are in a very tight consolidation range overall, so I’m not looking for much out of this market between now and the end of the year.
The British pound has rallied a bit during the day on Tuesday but continues to find resistance near the 1.27 level above continues offer massive resistance.
The British pound has rallied a bit during the trading session on Thursday, but as you can see marked on the chart, I have a yellow circle suggesting where the sellers will probably come in and start jumping on this pair again.
The Euro continues to go sideways overall during the trading session on Thursday, as we tighten up and have nowhere to go. We are in massive consolidation, and between now and the end of the year that isn’t changing.