Yahoo Finance’s Scott Gamm tells Alexis Christoforous that he understands why the markets are reacting to Germany’s slowdown, considering it is the second biggest economy in Europe.
Bitcoin prices moved higher on Tuesday, recovering part of the prior session’s losses that saw the digital currency trade to its lowest level in two weeks.
The U.S. dollar rebounds from some modest losses in Tuesday trading, shaking off a weaker-than-anticipated consumer-confidence read.
Gold markets pulled back just a bit during the trading session on Tuesday, as the $1325 level has offered a significant amount of psychological and structural resistance. Beyond that, we also have the trend line that I have been talking about just above.
The US dollar rallied during the trading session on Tuesday, using the ¥110 level as a launching base. This is a market that continues to see a lot of volatility, which makes a lot of sense considering that it is a risk sensitive market.
The British pound continues to slam back and forth as we get a lot of Brexit headlines, but looking at the technical picture we could glean some information in this general vicinity.
The British pound rallied a bit against the Japanese yen during the trading session on Tuesday, breaking the top of a major hammer that formed for the Monday session.
The Euro fell a bit during the trading session on Tuesday, as we continue to bounce back and forth. There is a larger consolidation that continues to dictate where we go, so obviously we have boundaries to work with.
The Australian dollar rose slightly during the trading session on Tuesday, as we have broken above the 50 day EMA. While this is a very good sign, the reality is that the market itself hasn’t changed.
Canadian Investor Sentiment hurt on SNC Lavalin Group Issue. Market Awaits The Consumer Confidence Index.
Based on the early trade, the direction of the EUR/USD on Tuesday is likely to be determined by trader reaction to the 50% level at 1.1313 and the downtrending Gann angle at 1.1305.
Risk of a U.S. economic slowdown have gone up and the Fed has stopped raising rates, which is providing some support for gold, however, there is just not enough there to cause gold prices to skyrocket at this time.
The Reserve Bank of India on Tuesday set 7.76 rupees premium for its first dollar/rupee three-year buy-sell swap auction and accepted the entire planned $5 billion on sale. In the inter-bank cross-currency swap, 3-year dollar/rupee swaps were quoted at 7.7 rupees per dollar on Tuesday, implying an annualised cost of 3.7 percent to swap rupees for dollars. The cut-off premium of 7.76 rupees translates into an annualised 3.75 percent, which is higher than the market rate, dealers said.
The Dow jumped 221 points, or 0.9%, by 9:51 AM ET (13:51 GMT), while the S&P; 500 gained 25 points, or 0.9%, and the tech-heavy Nasdaq composite was up 82 points or 1.1%.
Investing.com - Gold prices pulled back from a one-month high on Tuesday, breaking a three-day winning streak as risk aversion faded in financial markets.