CRYPTOWATCH Bitcoin prices have tumbled further on Monday, reaching their lowest level since October 2017. Coming off a week that saw the world’s largest digital currency plummet through $6,000, bitcoin prices have shed another 8% on Monday, with a single bitcoin (BTCUSD) last fetching $5,111.
European markets edged higher Monday but gains were capped by nagging political worries and a slide in shares of a key auto maker after the Renault Nissan alliance’s board said it would oust Chairman Carlos Ghosn.
Investing.com - U.S. futures pointed to a slightly lower open on Monday, as investors continued to monitor developments on trade, after President Donald Trump said he may not impose more tariffs on China.The S&P 500 futures fell 7 points or 0.27% to 2,735.5 as of 6:37 AM ET (11:37 GMT) while Dow futures were down 62 points, or 0.24%, to 25,389.0. Meanwhile tech heavy Nasdaq 100 futures decreased 19 points, or 0.28%, to 6,875.75. ...
The currencies of Brazil and Mexico weakened on Monday despite the dollar dropping to two-month lows, as concerns of a slowdown in global growth and simmering U.S.-Chinese trade tensions clouded sentiment. The U.S. Federal Reserve policymakers signaled rate increases ahead but also sounded more concerned about a potential global slowdown, leading markets to suspect the central bank's tightening cycle may not have much further to run. This sent U.S. Treasury yields and the dollar lower.
The world’s first multi-crypto Exchange Traded Product will officially trade next week on Switzerland’s Principal stock Exchange – the SIX Swiss Exchange. Amun ETP’s approval by SIX The SIX Swiss Exchange has approved the world’s first crypto-based Exchange Traded product (ETP) to trade on its platform. The new ETP will index the five leading cryptos […] The post World’s First Cryptocurrency Exchange Traded Product to Launch in Switzerland appeared first on Market Exclusive.
The dollar saw muted action early Monday, ahead of a week with little economic data and the Thanksgiving holiday on Thursday. Major themes continued, however, with investors focusing on the global growth slowdown and European political developments. U.S. financial markets will be closed Thursday for the Thanksgiving holiday.
Investing.com - The dollar dipped against a currency basket on Monday, adding to Friday’s losses amid uncertainty over the pace of future U.S. interest rate hikes, while the pound was holding above the 1.28 level as Brexit worries rumbled on.
The theme ahead of next month’s Fed meeting is likely to surround easing inflation and slower growth. This is important because they could encourage the Fed to reduce the pace of rate hikes next year. A December rate hike is about 80 percent certain according to reports.
Investing.com - Litecoin was trading at $38.904 by 03:08 (08:08 GMT) on the Investing.com Index on Monday, down 10.64% on the day. It was the largest one-day percentage loss since November 14.
The gold prices bounced higher during the Friday’s trade session, reaching towards the $1220 level. The silver prices rallied a bit during Friday’s session but is facing a lot of selling pressure above. The crude oil prices got a bounce from the $55 level in the Friday’s session, trying to reach towards the $58 level.
The Euro continued to struggle around the 1.14 region on the Friday’s session, with a back and forth momentum. The region above the 1.14 level has become significantly resistive and all the negative headlines related to Brexit and Fed raising interest rates will keep the market under pressure. There is still a significant amount of bearish sentiment present around the market and if it breaks through the 1.13 level, then it is likely to reach down to the 1.11 level.
Investing.com - Gold prices slipped on Monday, while the dollar was subdued against its rivals after Federal Reserve officials cautioned on the global economy.
The Aussie and Kiwi strengthened last week because traders perceived the events as a bit dovish, encouraging the need for traders to aggressively adjust short positions. The CPI report, for example, suggested inflation is not overheating and may even be close to slowing down because of the plunge in crude oil and gasoline prices. The Fed comments also suggest a softer tone may be developing at the central bank. These factors could combine to convince the Fed to slow down the pace of rate hikes in 2019.
Investing.com - Bitcoin and other major crypto prices fell on Monday despite news that Switzerland’s authorities approved the world’s first cryptocurrency ETF.
The new week opens on thin trading, but risk appetite for sterling investors seems to be heading towards the downside.
A quiet day on the data front could see the Pound and the EUR under pressure, with Brexit and the Italian coalition government in action.
The Dollar/Yen weakened last week because traders perceived the events as a bit dovish. The CPI report, for example, suggested inflation is not overheating and may even be close to slowing down because of the plunge in crude oil and gasoline prices. The Fed comments also suggest a softer tone may be developing at the central bank. These factors could combine to convince the Fed to slow down the pace of rate hikes in 2019.
Investing.com - This week precious metals traders will be watching developments around global trade tensions and geopolitical risks, as well as moves in the U.S. dollar, after gold prices ended higher on Friday, notching up a weekly gain of more than 1%.
Gold futures may have formed a major bottom last week with the rally being fueled by a weaker U.S. Dollar. The technically bearish chart pattern formed by the dollar on the weekly chart suggests a major top may have been reached and this could trigger a strong surge in gold prices. It’s not the weaker U.S. Dollar per se that is supporting gold, but the catalysts behind the greenback’s weakness.
Geo-politics will remain center stage with Britain and Italy heading to their final showdowns, while trade talk chatter will also influence.