Investing.com - Stocks surged Tuesday as the first big day of earnings delighted investors, but the rally faded a bit toward the close as profit-taking set in.
Gold markets fell a bit during the trading session on Tuesday, to test the lower part of the wedge that has been important for the last several weeks. It’s also the beginning of the major uptrend line, so it does make sense that we started to see buyers jump back in.
The US dollar pulled back a bit during the trading session on Tuesday, as we continue to press against a major area of resistance in the USD/JPY pair.
The British pound rallied a bit during the trading session on Tuesday, as we continue to see a lot of noise in the market. All things being equal, this is a market that should continue to be very noisy as the headlines will be fast and furious.
The British pound has been consolidating against the Japanese yen during the trading session on Tuesday, as we initially tried to break above the 200 day EMA but rolled over to show signs of weakness again. Ultimately, major decisions need to be made.
The Euro rolled over again during the trading session on Tuesday, showing signs of weakness as the long term trend continues to assert itself, the Euro looks destined to test the lows again.
The Australian dollar initially tried to rally during the trading session on Tuesday but found resistance yet again as we turned around to break down below the 0.6750 level. This is an area that has been crucial more than once, so this looks like more of the same.
The British pound jumped Tuesday, shaking off losses seen at the start of the week, after upbeat comments over a possible Brexit deal from the European Union’s negotiator.
Whatever the outcome of the EU summit that will decide the fate of Brexit later this week, the U.K. government will embark on a big spending binge. But financial markets shouldn’t worry.
Gold futures continue to work their way lower after peaking in September. The topping process appears complete, and the next wave of selling could begin any day.
Investing.com – Auto catalyst metal palladium rode the wind of a supply crunch to reach new $1,700 record highs on Tuesday, becoming the world’s most valuable precious metal, as prices of gold fell on talk of a potentially smoother U.K. exit from the European Union.
On Tuesday, the Canadian and Mexican dollars are trading sideways. With no key U.S. numbers in the Tuesday session, traders can expect limited movement in the North American session. The British pound has posted slight gains on the day.
Blockchain analytics firm CipherTrace has added support for over 700 digital assets, including bitcoin cash (BCH), ether (ETH), litecoin (LTC) and stablecoin tether (USDT), to its platform.The post CipherTrace adds support for over 700 crypto assets, including bitcoin cash, ether and tether appeared first on The Block.
There are no major economic releases in the United States on Tuesday, but it is the start of earnings season on Wall Street. Although most analysts are forecasting a weak earnings season, today’s session started with a bang with a number of major companies posting big earnings beats.
Investing.com -- Gold prices tumbled on Tuesday as reports suggested the EU and U.K. were closing in on a deal to avert a disorderly and economically damaging Brexit on Oct. 31.
Based on the early price action and the current price at 1.1021, the direction of the EUR/USD the rest of the session on Tuesday is likely to be determined by trader reaction to the main 50% level at 1.1021.
Investing.com - The pound spiked on Tuesday after Bloomberg reported that the U.K. and European Union are close to agreeing on a legal draft of a Brexit deal.
GBP/USD has recovered back towards recent highs but was little moved by the UK jobs report as investors continue to focus on Brexit developments.
Investing.com – Wall Street was higher on Tuesday after robust third-quarter earnings from JPMorgan Chase (NYSE:JPM), UnitedHealth (NYSE:UNH) and Johnson & Johnson (NYSE:JNJ).
This week will be critical for the British currency, which may result in increased volatility of sterling both downwards and upwards. Right now, positive market sentiment supported by hopes for approval of the UK exit from the EU.
Precious metals moved strongly on Friday, and did so on significant volume. The reversals we have seen on Thursday got resolved with a heavy thud. Let’s dive into the many charts and perspectives and explore how well they support the upcoming move across the sector.
Wednesday’s Asian session was calm, as the Chinese yuan and NZ and Australian dollars are steady. The RBA minutes were dovish, and New Zealand will release CPI for the third quarter.