* Rupee slumps nearly 1 pct * Yuan falls on weak Chinese trade data (Adds text, updates prices) By Niyati Shetty Dec 10 (Reuters) - Most Asian currencies weakened against the dollar on Monday as apprehension ...
A shift in sentiment towards FED monetary policy and trade war jitters pin back the Greenback as the markets prepare for the next Brexit saga.
Based on last week’s close at .7187, the direction of the AUD/USD this week is likely to be determined by trader reaction to the 50% level at .7207.
The direction of the AUD/USD and NZD/USD this week will likely be determined by investor demand for risk. And this is likely to be controlled by U.S. China relations. There are no major reports from Australia and New Zealand this week.
The direction of the USD/JPY this week will likely be determined by the movement of Treasury yields and the stock market. These two factors will be influenced by a number of U.S. economic reports and U.S. China relations.
Investing.com - Litecoin was trading at $25.812 by 08:20 (13:20 GMT) on the Investing.com Index on Sunday, up 10.02% on the day. It was the largest one-day percentage gain since September 27.
Investing.com - This week precious metals traders will get a fresh update on the health of the U.S. economy from data on retail sales and consumer prices amid speculation over whether the Federal Reserve may slow the pace of interest rate hikes next year.
Investing.com - This week investors will look to data on consumer prices and retail sales for the latest update on the health of the U.S. economy.
A busy week ahead will see Britain’s fate become all the more clear, with the ECB delivering on policy. On the risk front, U.S and China will be in focus.
The weakening U.S. Dollar is the catalyst behind the strength in the gold market. Driving gold prices lower are the steep drop in Treasury yields and expectations of a more dovish Fed next year.
According to the WSJ, members of the U.S. Federal Reserve are reportedly debating whether to signal a “wait-and-see” approach after a probable hike to the central bank’s benchmark rate at its December meeting.
Cryptocurrency prices fall sharply Friday as another bout of selling pressure takes digital currencies to fresh lows.
LONDON MARKETS The London stock market bounced back following Thursday’s Wall Street recovery, but still suffered its biggest weekly loss since October. And all three U.S. benchmarks slumped Friday on worries over trade policy, posting their biggest weekly percentage declines since March.
The U.S. dollar tracks lower on Friday, following a cooler-than-expected jobs report and some dovish Fedspeak. Commodity-linked currencies strengthen after OPEC members and Russia agree to curb oil production.
Moody's de Mexico S.A. de C.V. ("Moody's") affirmed the Municipality of Tuxpan's issuer rating of B2 (Global Scale, local currency) and changed the outlook to positive from stable. At the same time Moody's upgraded to Ba1.mx from Ba2.mx the Mexican National Scale issuer rating of the municipality. Moody's de Mexico also affirmed the debt ratings of the municipality's MXN 220 million loan (original face value) with Banorte-Interacciones at Ba3/A3.mx (Global Scale, local currency/Mexico National Scale).
Investing.com - Litecoin was trading at $23.259 by 11:31 (16:31 GMT) on the Investing.com Index on Friday, down 20.55% on the day. It was the largest one-day percentage loss since September 14, 2017.
Gold prices rose on Friday, on track for the highest weekly gain since August as lower-than-expected jobs data weighed on the U.S. dollar. Comex gold futures for February delivery jumped 0.62% to $1,251.35 a troy ounce as of 11:26 AM ET (16:26 GMT). Nonfarm payrolls rose by 155,000 in November, which was lower than expected and puts less pressure on the Federal Reserve to raise rates next year.
Gold prices surged higher on Friday rising 1.8% as trade turmoil and a smaller than expected rise in non-farm payrolls. Hourly earnings were also smaller than expected which means that the Fed will likely moderate future rate hikes. Gold prices surged higher breaking through the October highs at 1,244 which is now seen as short term support.
Gold markets rallied significantly during the week, breaking towards the $1250 level , an area that has been relatively resistive. As we close out the week, it looks as if we are on the precipice of a move.
The US dollar fell during the week, but then found a bit of support against the Japanese yen. We continue to see significant levels just below though, and I think that could be influential as to what happens over the next couple of weeks.
The British pound continues to hover above the vital 1.27 level, as the British Parliament continues to discuss the potential deal that Teresa May has struck with the European Union. If there is “no deal”, that will be extraordinarily negative. Otherwise, if there is some type of agreement, we could see buyers.
The British pound continues to struggle against the Japanese yen, as a bit of a “risk off” move. There are tensions between the United States and China involving trade, and it’s likely that the market will continue to be very difficult to handle.
The Euro rallied a bit during the week but remains in a relatively tight range. The 1.15 level above is massive resistance, and if we can break above there it could free the Euro to go much higher. However, we have a lot of issues when it comes to this pair.
The Australian dollar fell during most of the week but found a bit of support at the same area we have seen recently, the 0.72 level. The downtrend line that had been intact for so long has been broken, and it now looks as if it may offer support.
Gold markets rallied significantly on Friday to break above the $1250 level, an area that has been important more than once. I think that this is a good sign, and we will have to wait and see whether or not we get follow-through, but certainly things are looking up.