The greenback was holding steady near a 22-month high on Wednesday as strength against the euro was offset my minor gains against other trading partners.
Our call of the day says investors should take care as the stock market sets out new highs, because a big group of investors is sitting on the sidelines, waiting to cash in on a fall.
London markets sank as oil companies retreated following several strong sessions and the bottom fell out for miners. How did markets perform? The U.K.’s FTSE 100 (UK:UKX) retreated 0.4% to 7,490.2, following Tuesday’s solid gain of nearly 0.
European markets gave back much of Tuesday’s gains as strong earnings elsewhere could not offset oil companies’ retreat. How did markets perform? The Stoxx 600 (XX:SXXP) was down 0.1% to 390.9, after rising 0.
All the major 200-days SMA and 100-days SMA stood way above the EUR/USD, developing a bearish stance. Today is the deciding day for the EMU economy. Things had remained pretty pathetic for the euro pair in the last couple of sessions. The Greenback continues to hover in the 97.60/70 top levels.
The steep drop in the Australian Dollar helped export-reliant stocks, such as index-heavyweight drug manufacturer CSL, Ltd., which climbed more than 3 percent to its biggest one-day gain since late December. Lower interest rates tend to drive investors into higher-yielding equity markets.
The main takeaway from the report is that quarterly inflation fell to an annual rate of just 1.42%. This put it well below the bottom of the RBA’s 2-3% medium-term target. With underlying inflation decelerating away from the RBA’s mandated level, the odds of a central bank rate cut over the near-term are accelerating.
The Dollar bulls will be looking for a first visit to 100 levels since 2017. While Trump may attempt to kill the rally, the stars are aligning…
Based on the early price action, the direction of the USD/JPY on Wednesday is likely to be determined by trader reaction to the downtrending Gann angle at 111.858.
Based on the early price action, the direction of the NZD/USD the rest of the session is likely to be determined by trader reaction to the uptrending Gann angle at .6640.
Based on the current price at .7035 and the earlier price action, the direction of the AUD/USD the rest of the session is likely to be determined by trader reaction to the 50% level at .7030.
Investing.com -- The dollar is continuing its march higher early Wednesday in Europe, enjoying further support from a strong corporate earnings season at home coupled with better-than-expected economic data.
The Kiwi Dollar and Aussie Dollar take another hit early. The Bank of Canada and corporate earnings could give the Greenback more upside on the day.
Investing.com - Gold prices slipped on Wednesday in Asia, pressured by strong earning reports stateside and strong U.S. housing data released overnight.
Tuesday’s price action suggests at least one rate cut has been priced in so it possible that we see a “sell the rumor, buy the fact situation.” However, weaker than expected numbers should drive the Aussie sharply lower.
With some financial sector corporate earnings results out of Europe, another set of positive U.S earnings results may not be enough…
Investing.com - The Australian dollar fell to near six-week lows on Wednesday in Asia after the release of inflation data that was softer than expected.
The U.S. dollar on Tuesday gains ground against most of its major trading partners, hitting an intraday 22-month high.
Along with the greenback upliftment, the primary rival (EUR/USD) which always benefits from a dollar plunge, dropped significantly. Crude WTI Futures traded at a new high near $66.60 per barrel elevating the commodity-linked CAD. USD/JPY lost 30 pips in a matter of a few minutes.
Once beaten down, bitcoin aficionados are growing louder by the day as the digital currency continues its comeback.
Who’s winning the U.S – China trade war? Is it really the U.S? How has the Pound and the UK economy performed and what about the Eurozone?
Gold markets broke down a bit during the trading session on Tuesday, slicing through sideways support that I had pointed out previously. Beyond that, we also stay below there although there was a bit of a bounce later in the day. At this point though, we have seen where gold is going.
Bitcoin touches $5600 - a new 2019 high. Yahoo Finance's Zack Guzman & Heidi Chung, along with BigEyedWish Founder Ian Wishingrad discuss.