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.
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.
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%.
The major U.S. equity indexes are trading higher shortly after the cash market opening on Tuesday as the latest tariffs on U.S. and Chinese goods failed to lead to lead to knee-jerk selling as anticipated during the pre-market trade. U.S. Treasury yields were trading mixed when the news came out this morning. However, shortly after the stock market opening, yields are trading higher. The U.S. Dollar is trading lower against most major currencies except the Japanese Yen despite rising Treasury yields which tend to drive up demand for the greenback
India’s rupee is the latest emerging market currency to come in focus as risk sentiment wanes on the back of the trade spat between the U.S. and China.
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.