Bitcoin prices trade higher on Wednesday, looking to extending the four-day win streak that has seen the cryptocurrency trade toward the $4,000 mark.
The U.S. dollar trends lower as the Wednesday trading session continues, ahead of the release of the Federal Reserve’s January meeting minutes, which could harbor more dovish surprises for the market.
Based on the earlier price action, the direction of the EUR/USD on Wednesday is likely to be determined by trader reaction to the uptrending Gann angle at 1.1354.
London markets were up on Wednesday, after gains from the banking and mining sector helped to boost the FTSE 100
Precious metals continue to trade positive as weak dollar combined with healthy demand for safe haven assets underpin demand in market and influence a positive price action.
Investing.com - The greenback was flat on Wednesday, as investors waited for the Federal Reserve to release the minutes from its latest monetary meeting.
In the minutes, traders will be looking for clues as to what the central bank plans to due to affect the balance sheet. Continuing to reduce the balance sheet is a form of tightening. This could pressure gold prices. However, gold prices could rally if the minutes show policymakers discussed stopping the reduction of its balance sheet.
Investing.com - Wall Street was mixed on Wednesday amid downbeat earnings releases and as investors waited for news of trade talks between the U.S. and China.
The populist Italian government is looking at a controversial source of income to help cover the costs of its spending spree: the gold treasure held by the Bank of Italy (Bankitalia).
Today’s data raises issues about inflation in New Zealand and the employment situation in Australia, but this may have to take a backseat ahead of today’s release of the Fed minutes. Traders are likely to react to any news regarding the Fed’s balance sheet. This will determine whether the minutes are dovish or hawkish.
Investing.com - Gold prices edged higher on Wednesday as investors waited for the publication of the minutes from the latest Federal Reserve policy meeting with expectations for them to confirm the central bank’s dovish policy stance.
Based on the dovish comments from Fed Chairman Jerome Powell and the other policymakers, traders have reason to believe that the Fed is going to pause raising interest rates, however, they are less certain about what the central bank is going to do with the $4 trillion of bonds left on its balance sheet.
Brexit optimism keeps the pair range bound near previous session highs as investors await further headlines from Brussels and fed meeting minutes for directional cues.
Investing.com - U.S. futures pointed to a slightly lower open on Wall Street Wednesday, with investors remaining cautious as trade talks between the U.S. and China continued.
The gold prices broke higher during Tuesday’s session, reaching towards the much important $1350 level. Its a very bullish development for the market and pullbacks at this juncture will offer strong value. The $1330 and $1325 level underneath will offer strong support and once it clears above $1350 level, then it could easily reach higher towards the $1400 level. …Read MoreSilver
The Euro initially pulled back during Tuesday’s session but received strong support around the 1.13 area, which helped to rally higher. The pair is likely to continue its long-term consolidation which now ranges between the 1.12 and 1.15 level. If the pair can clear above the 1.1350 level, then it will be a bit positive for the market and could reach another 100 pips higher. …Read MoreGBP/USD
EURUSD pair trades flat post overnight rebound on dollar’s weakness as investor took cautious stance awaiting Fed meeting minutes for directional cues.
Based on the early price action, the direction of the AUD/USD on Wednesday is likely to be determined by trader reaction to the 50% level at .7175 and the Fibonacci level at .7154.
Based on the recent price action, the direction of the NZD/USD the rest of today’s session will likely be determined by trader reaction to the reversal top at .6894.
Trade data out of Japan suggests more doom and gloom as trade negotiations. Brexit chatter and the FED minutes will be in focus through the day.
Based on the early price action, the direction of the USD/JPY on Wednesday is likely to be determined by trader reaction to 110.693.
Investing.com -- The dollar was lower against the euro and the British pound in early trading in Europe Wednesday as a fall in U.S. Treasury yields reduced its attractiveness amid expectations of dovish news on interest rates from the Federal Reserve.
Investing.com - The U.S. dollar was little changed on Wednesday in Asia as traders await the minutes from the January U.S. Federal Reserve meeting due later in the day.