Yahoo Finance's Jared Blikre joins Seana Smith from the floor of the New York Stock Exchange to discuss the latest market moves.
Investing.com – The dollar strengthened on Wednesday as Federal Reserve Chairman Jerome Powell presented a positive assessment of the U.S. economy during his semi-annual congressional testimony on Tuesday.
Investing.com – Cryptocurrencies prices extended their gains on Wednesday, with Bitcoin pushed past the $7,000 price level for the first time since June.
Investing.com – Bitcoin surged Tuesday, rising above $7,000 for the first time in more than a month amid renewed demand for cryptos.
Investing.com – Gold prices fell to a year low Tuesday, pressured by a rally in the greenback as Federal Reserve Chairman Jay Powell said gradual rate hikes would continue.
Investing.com – The dollar rose against its rivals Tuesday, as Federal Reserve Chairman Jay Powell gave lawmakers a positive assessment of the economy, and expects to continue raising interest rates gradually.
Gold prices tumbled on Tuesday, as commentary from Fed Chair Powell, allowed the greenback to gain traction. Gold prices drop sharply on Tuesday slicing through former support which were the July and December lows at 1,236, and headed toward target support near the July 2017 lows at 1,204. Resistance on the yellow metal is seen near former support at 1,236 and then the 10-day moving average at 1,247. Momentum has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal.
The U.S. dollar gains momentum versus most of its rivals on Tuesday, as Federal Reserve Chairman Jerome Powell had favorable things to say about the U.S. economy even in light of the continuing trade spats surrounding the Trump administration.
U.K. Prime Minister Theresa May on Tuesday eked out a victory in her battle to pass her Brexit plan through Parliament. The vote concerning an amendment to stay in the European Union's customs union was defeated by just six votes. Just last week, the government saw high profile resignations from chief Brexit negotiator David Davis and Foreign Secretary Boris Johnson, as well as two vice-chairs of the Conservative Party.