Coinbase is overhauling its process for adding new cryptocurrencies to its exchange.
Investing.com - The U.S. dollar was holding steady against a currency basket on Wednesday as investors awaited the conclusion of the Federal Reserve meeting later in the day, with a rate hike fully priced in.
Investing.com - Gold prices gained while the U.S. dollar remained unchanged on Wednesday as investors awaited details of the U.S. Federal Reserve's two-day meeting due later in the day.
The bullish news was ANZ Business Confidence. This is the report that triggered the rally in the NZD/USD. ANZ Bank’s headline business confidence index bounced 12 points to -38%, indicating that a net 38% of businesses expect conditions to deteriorate in the year ahead.
Investing.com - The U.S. dollar was unchanged on Wednesday as markets awaited the conclusion of the Federal Reserve’s latest meeting, while the New Zealand dollar jumped on a better-than-expected business confidence report.
The range is limited and volume is light as investors prepare for the U.S. Federal Reserve’s interest rate decision, monetary policy statement and press conference scheduled for 1800 GMT. At the conclusion of the Fed’s two-day policy meeting on Wednesday, the central bank is widely expected to raise its benchmark interest rate for the eighth time since December 2015. Investors have been counting on this rate hike for weeks, and have also begun to price in another rate hike in December.
Based on the early price action, the direction of the December Comex Gold futures contract on Wednesday is likely to be determined by trader reaction to the 50% level at $1205.90.
The relentless widening of the US-German (DE) yield spread indicates that markets have priced-in Fed’s gradual path of tightening.
Gold markets rally during the day on Tuesday, reaching towards $1280 level before running into significant resistance. That’s an area that has been trouble more than once, so I think we are essentially just waiting on the FOMC statement more than anything else.
The US dollar continues to run into a major barrier above, in the form of a downtrend line that creates a large symmetrical triangle in this marketplace. I think at this point, it’s very likely that we will continue to see negativity flow into this marketplace, but a break out would change almost everything about the long-term and short-term forecast.
The British pound continues the chop around as we are starting to see a bit of resiliency on the part of Sterling. For me, this is a market that continues to be driven by headlines, so it is difficult to deal with. However, fears of a new election in the United Kingdom have subsided, and perhaps that might give us reason to rally.
The British pound rose against the Japanese yen during trading on Tuesday as the world continues to shrug off bad news. The question now is whether or not the trade war is something that people truly fear, or has it just already been priced into the markets?
Live from the floor of the New York Stock Exchange, Yahoo Finance's Jared Blikre joins Dion Rabouin to discuss the latest market moves.