U.S. stocks on Tuesday are set to extend the previous session’s gains ahead of the start of the Federal Reserve’s two-day policy meeting.
U.S. Treasury yields fall sharply Tuesday after European Central Bank President Mario Draghi says additional monetary policy stimulus could be needed, including interest rate cuts and asset purchases
With markets already moving in response to the largely surprisingly dovish comments from European Central Bank head Mario Draghi Tuesday, the U.S. leader weighed in, too.
Facebook Inc. said Tuesday it will roll out its highly anticipated digital currency next year, intended to be used to make payments over the internet as well as on its social-media platform.
LONDON MARKETS London markets rose as European Central Bank President Mario Draghi promised stimulus if economic conditions didn’t improve. How did markets perform? The U.K.’s FTSE 100 (UK:UKX) was up 0.
EUROPE MARKETS European markets shot higher as European Central Bank President Mario Draghi promised stimulus if economic conditions didn’t improve. How did markets perform? The Stoxx 600 (XX:SXXP) leapt 0.
The euro fell against the dollar on Tuesday, while European stocks and U.S. stock futures rose after European Central Bank President Mario Draghi indicated the bank is ready for more stimulus if the euro-area economy doesn't improve, at a conference in Portugal. Draghi said the risk outlook for the European economy "remains tilted to the downside, and indicators for the coming quarters point to lingering softness," in prepared remarks for an ECB Forum in Sintra. "In the absence of improvement, such that the sustained return of inflation to our aim is threatened, additional stimulus will be required," he said. The euro [s:eurusd] was last down 0.3% against the dollar to $1.182, while the Stoxx Europe 600 index rose 0.7% and Dow Jones Industrial Average futures gained 75 points, or 0.3%, to 26,208. S&P 500 futures rose 8.95 points or 0.3%. Gold prices gained $6.70, or 0.5%, to $1,349 an ounce.
The pound has dipped to the $1.25 mark—the weakest since the beginning of the year—as traders grapple with uncertainty over the Conservative leadership contest and the possibility of both a no-deal Brexit and a U.K. general election.
There have been arguments that traders have now pre-positioned portfolios, and happy to drift into the menagerie of central bank speakers this week.
In what was expected to be a busy week has turned into a bit of dud ahead of the FOMC as traders have taken a decidedly defensive posture. The S&P 500 closed marginally higher but spent most of the day meandering aimlessly as both bulls and bears head for the side-lines.
In today’s piece, I will show You three best trading occasions on the market right now, where You will see the power of the flag, so a technical trend correction pattern. I will show You examples from the past, as well, as occasions for the nearest future.
We’re not expecting too much movement ahead of the Fed’s interest rate and monetary policy decisions on Wednesday. Both the AUD/USD and NZD/USD are expected to remain under pressure because the Reserve Bank of Australia and the Reserve Bank of New Zealand are expected to cut interest rates in the near future. The Fed is not expected to cut rates in June, but its monetary policy statement should open the door for rate cuts in either July or September.
Investing.com - The British pound was trading near its lowest levels of the year on Tuesday as fresh fears over the prospect of a no-deal Brexit weighed, while the Australian dollar was pressured by growing expectations for another rate cut by the country’s central bank.
The RBA talks of further rate cuts as the UK Tory Party Leadership race heats up. Stats out of the Eurozone will also be relevant later this morning.
In the minutes, the RBA pointed out once again that labor market developments are “particularly important” on deciding further easing. We saw this last week following the release of a disappointing Unemployment Rate. It came in at 5.2%, above the 5.1% forecast. Traders have been aggressively selling the currency since this report was released on June 12.
Investing.com - The British pound fell to five-and-a-half month lows on Tuesday in Asia as fears over the threat of a no-deal Brexit resurfaced.
Investing.com - Gold prices rose on Tuesday in Asia as traders awaited the highly-anticipated Federal Reserve meeting that is set to kick off later in the day.
Based on the current price at $1342.30, the direction of the August Comex gold futures contract into the extended close is likely to be determined by trader reaction to the short-term 50% level at $1342.90.
Based on the current price at 97.020, the direction of the September U.S. Dollar Index into the close is likely to be determined by trader reaction to the Fibonacci level at 97.020.
Pakistan's new central bank governor Reza Baqir on Monday dismissed the idea of a free floating rupee as he outlined reforms aimed at ending instability in the South Asian economy. Baqir was last month appointed to lead the central bank in Pakistan, which has been hit by ballooning current and fiscal account deficits and repeated devaluations of the rupee. Pakistan's policy is a "market based exchange rate system" that follows supply and demand, but that will not be left completely to the market, Baqir said in his first press conference as State Bank of Pakistan (SBP) governor.
The British pound rallied slightly during the trading session on Monday, as we continue to see a bit of noise around the 1.26 handle. Beyond that, there is plenty of support underneath, so it looks as if we are trying to find the floor here.
The Australian dollar went back and forth early on Monday to at the very least stabilize, but at this point there’s nothing compelling about the Aussie to get aggressive about. We are at crucial levels, so there are plenty of things to pay attention to.