MUMBAI (Reuters) - The Indian rupee dropped to a record low in opening deals on Thursday with investor sentiment affected by a widening trade deficit on the domestic front and the broad rise in the U.S. ...
Investing.com - Metal prices were hurt by an ongoing rise in the dollar and worries that an economic crisis in Turkey could spread to emerging markets which would hit already fragile demand for commodities.
Gold prices tumbled again on Wednesday breaking down and headed toward target support near the December 2016 lows at 1,120. Resistance is seen near former support now resistance near 1,204. Stronger than expected retail sales helped buoy the dollar paving the way for lower gold prices. The dollar has been the beneficiary of the geopolitical unrest which first hammered the Turkish Lira but has spread to decline in the Indian Rupee and the Chinese Yuan. Momentum is negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. ...
Prices of digital currencies climbed higher Wednesday, bucking the recent trend which saw as much as $20 billion wiped off the market cap of cryptocurrencies to begin the week.
Investing.com - The dollar steadied against its rivals at 13-month highs Wednesday, but gains were limited by rising demand for safe-haven yen on fears turmoil in Turkey could spill over into other markets.
Based on the current price at $1184.50, the direction of the December Comex Gold market into the close is likely to be determined by trader reaction to the former bottom at $1184.00. Now that we’ve tested $1184.00, volatility is expected to pick up since there is plenty of room in both directions with $1210.70 a potential upside target and $1166.60 the next downside target.
Turkey’s embattled lira continues to rebound Wednesday for a second straight session, even as the animosity between Ankara and Washington appeared to escalate. The U.S. dollar also extended gains to touch a fresh 14-month high.
Based on the current price, the direction of the EUR/USD into the close is likely to be determined by trader reaction to yesterday’s close at 1.1343. The main trend is down according to the daily swing chart. However, today’s session began with the EUR/USD in the window of time for a closing price reversal bottom.
European stocks edge higher in early trading Wednesday, as investors watched the continuing currency drama in Turkey, which showed some signs of stabilization.