Investing.com – Bitcoin edged lower on Thursday after struggling to hold above $9,000 as traders awaited further catalysts to determine direction.
Moody's de México S.A. de C.V assigned Aaa.mx (Mexico National Scale) and A3 (Global Scale, local currency) ratings to the State of Mexico's MXN 1.5 billion enhanced loan from BBVA Bancomer. 1. The legal validity of the trust structure, which authorizes the trust to be used as a mechanism to service the debt.
The U.S. dollar rallied Thursday, posting gains versus major rivals, including the euro, which slumped after failing to hold initial gains scored following the European Central Bank’s policy meeting. The ECB left interest rates unchanged and renewed its pledge to continue asset purchases through the end of September. ECB President Mario Draghi played down soft first-quarter data in the eurozone, but also indicated that policy makers want to get a better grip on the causes of the slowdown before proceeding toward unwinding the bank’s ultraloose monetary policy.
Investing.com – The dollar traded higher against a basket of major currencies on Thursday as a fall in bond yields was offset by euro weakness after European Central Bank president Mario Draghi delivered a mixed press conference.
Gold prices moved lower as the ECB conveyed a dovish message, and U.S. jobless claims dropped pushing the 10-year yield higher which buoyed the greenback paving the way for lower gold prices. Durable goods order was also better than expected for the headline number, but the internals showed some weakness especially business investment.Technicals
The dollar gained ground on Thursday, as the euro fell after comments from European Central Bank President Mario Draghi. The euro was down, with EUR/USD falling 0.44% to 1.2106 as of 11:14 AM ET (15:14 GMT) as investors worry that the eurozone's economy is rebounding and the European Central Bank could wait to tighten monetary policy. Draghi said that Eurozone area growth is “solid and broad based”, before adding that the ECB didn't discuss plans for its June meeting.
The EUR/USD moved lower on Thursday following the ECB’s meeting, where the central bank focused on weakening sentiment. Draghi seemed to shrug off the weakness in the sentiment surveys but described the current level of monetary stimulus sufficient to handle the current softness. The EUR/USD broke down on Thursday as the tone of the ECB meeting was dovish. The exchange rate pierced through the lows made in March at 1.2154 and are poised to test the 200-day moving average at 1.2004. Resistance is seen near former support at 1.21.54 and then an upward sloping trend line that was the former breakdown level at 1.2245. Momentum is negative as the MACD (moving average convergence divergence) is printing in the red with a downward sloping trajectory which points to lower prices. ECB didn’t discuss monetary policy, instead Draghi said officials discussed the situation in individual economies, amid the broad based slowdown in confidence indicators.
Elsewhere on the Comex, silver futures were down 0.53% to $16.415 a troy ounce. Among other precious metals, Platinum Futures fell 0.30% to $910.00 while Palladium Futures surged 1.69% to $983.85 an ounce. Copper futures decreased 0.40% to $3.122 a pound.
The pair went much lower during the Wednesday’s session reaching the 1.21 level, the area which has massive importance and was also the scene of a major breakout. A bounce from here will confirm the continuation of the upside trend but the pair is experiencing huge downward pressure due to rise in the yield of Treasury papers in the US. And, also lack of any clear direction from the ECB on monetary tightening is affecting the market. …Read MoreGBP/USD
Investing.com – Wall Street opened higher on Thursday, bolstered by strong earnings results from technology companies.The S&P 500 was up over 10 points or 0.40% to 2,650.08 as of 9:40 AM ET (13:40 GMT) while the Dow composite increased over 53 points or 0.22% to 24,137.80 and tech heavy NASDAQ Composite rose 63 points or 0.90% to 7,067.06.Technology stocks were much higher after stronger than expected earnings results.Facebook (NASDAQ:FB) surged 9.02% after its first-quarter results came in higher than expected. ...
Investing.com - The euro rose to the day’s highs on Thursday after European Central Bank President Mario Draghi said euro area growth is “solid and broad based”, before adding that the ECB didn't discuss plans for its June meeting.
Cryptocurrencies were mixed on Thursday, as Bitcoin remained near a three-day low. Bitcoin was trading at of $8,899.50, falling 2.77% as of 8:24 AM ET (12:24 GMT) on the Bitfinex exchange. The Chicago Board Options Exchange wants to lower the increments on its futures contracts, according to a letter to the Commodity Futures Trading Commission.
Investing.com - The dollar eased back from three-and-a-half month highs against a currency basket on Thursday as investors took a breather after a recent rally driven by rising Treasury yields.
The euro held at the day's highs on Thursday after ECB President Mario Draghi presented a relatively confident outlook for the euro zone economy, contrary to some expectations that he would take a more cautious stance after recent weak data. After briefly falling to its lowest since mid-January at $1.2145 after the ECB's decision to keep policy unchanged, the single currency rebounded and was trading up 0.3 percent at the day's highs of $1.2210 after Draghi played down concern over recent softness in data. "If anything, he is a tad more hawkish than forecasts and he does not strike as being particularly concerned with the level of the euro either," said Neil Jones, head of hedge fund sales at Mizuho Bank Ltd in London.
Investing.com – U.S. futures pointed to a slightly higher opening bell on Thursday as earnings season continued.The S&P 500 futures was up five points or 0.19% to 2,649.50 as of 6:49 AM ET (10:49 GMT) while Dow futures increased 40 points or 0.17% to 24,118.0. Meanwhile tech heavy Nasdaq 100 futures surged 35 points or 0.54% to 6,591.00A flurry of corporate earnings are expected on Thursday, including General Motors (NYSE:GM), Amazon.com (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), Starbucks (NASDAQ:SBUX), American Airlines Group (NASDAQ:AAL) and many others. ...
Based on the early trade, the direction of the gold market today is likely to be determined by trader reaction to a steep downtrending Gann angle at $1325.40.
With the AUDUSD’s break of nearly a year-old ascending trend-line, the pair seems vulnerable enough to revisit the 0.7505-0.7500 horizontal-support but the 0.7550 may become immediate rest. In case if Bears refrain to respect the 0.7500 round-figure and oversold RSI, the 0.7460, the 0.7420 and the 0.7370 consecutive numbers may mark their presence on the chart.
Investing.com - Gold prices were off their best levels of the day on Thursday as strength in the dollar and Treasury yields continued to weigh, keeping prices within reach of three week lows.
Global markets have turned cautious as major risk events await, including the ECB, Core Durable Goods Orders from the States. And tomorrow’s Korean summit, and U.S GDP number. The U.S Dollar remains strong.
Michael Krautzberger, head of European fixed income at BlackRock, talks about the ECB's decision to leave interest rates unchanged.