After slipping late in the day Monday, bitcoin and major digital currencies are clawing back some losses Tuesday.
Ahead of Thursday’s Brexit summit — the latest of many high-level talks to determine the future relationship of the U.K. and the European Union — market participants are hungry for clarity, though they probably won’t get it, analysts say.
The U.S. dollar on Tuesday traded in a tight range, struggling for direction in the wake of an intensification of the U.S.-China trade fight after the Trump administration followed through on its plan to impose tariffs on an additional $200 billion in Chinese goods, prompting Beijing to vow retaliation.
Gold prices continued to consolidate as trader’s focus on trade tariffs and the risk on trade that allowed stocks to rally. A break of this level would lead to a test of the May highs at 65- basis points. The rally in US yields has been matched by increases in German and Japanese yields which has kept a cap on the dollar. With the dollar continuing to trade sideways, and gold prices quoted in US dollars, gold bulls are having a tough time pushing prices higher.
The U.S. dollar was flat against other currencies on Tuesday as China announced retaliation tariffs against the U.S. China said it would impose new tariffs on U.S. goods worth $60 billion, effective Sept. 24, Reuters reported. The new tariffs are in response to U.S. tariffs on Monday of 10% on $200 billion in Chinese goods, which will go up to 25% at the end of the year.
Investing.com - Gold prices headed lower on Tuesday as the dollar held its ground after the U.S. and China announced their latest round of measures in the escalating trade conflict.
Based on the early price action and the current price at .7219, the direction of the AUD/USD into the close is likely to be determined by trader reaction to the 50% level at .7224.
Investing.com - Wall Street was higher on Tuesday, as investors shrugged off news that China is retaliating against a fresh round of U.S. tariffs.The S&P 500 rose 9 points, or 0.34%, to 2,898.68 as of 9:36 AM ET (13:36 GMT), while the Dow increased 77 points, or 0.30%, to 26,140.10 and the tech-heavy Nasdaq Composite jumped 43 points, or 0.56%, to 7,939.77.China said it would impose new tariffs on U.S. goods worth $60 billion, effective Sept. 24, Reuters reported. The new tariffs are in response to U.S. ...
Cryptocurrencies overall were slightly lower with the coin market cap of total market capitalization at $197 billion at the time of writing, compared to $201 billion on Monday. Ethereum, or Ether, the second-biggest alternative currency by market cap, fell 4.63% to $207.73. XRP, the third-largest virtual currency, was up 8.83% to $0.30647 and Litecoin was at $53.448, down 3.97%.
Live from the floor of the New York Stock Exchange, Keith Bliss of DriveWealth joins Yahoo Finance's Seana Smith and Dion Rabouin to discuss the latest moves.