The cryptocurrency market credibility took a hit when Japanese exchange Zaif said it had been hacked, resulting in the loss of nearly 6,000 bitcoin.
Investing.com - The dollar fell to a nearly four-month low against its rivals on Thursday, as investors bet on an ongoing rebound in emerging-market currencies amid improved sentiment in developing economies.
The U.S. dollar weakens on Thursday, partly due to a buoyant British pound and New Zealand dollar, which were both trading higher on the back of better-than-expected economic data.
Gold prices moved higher on Thursday, buoyed by a drop in the dollar, as yields pulled back. The dollar tumbled through support levels giving a boost to commodities like gold that are priced in US dollars. Gold prices edged higher but were unable to push through resistance near the 50-day moving average at 1,307. Support on the yellow metal is seen near the 20-day moving average at 1,200. Prices are trading sideways which has pushed the Bollinger band width to the lowest levels seen since June which reflects declining volatility.
EUROPE MARKETS Europe’s main stock gauge ended higher on Thursday, logging a fifth day of gains for the index, as banks and mining stocks once again did the heavy lifting. What are markets doing? The Stoxx Europe 600 (XX:SXXP) rose 0.
Investing.com - Wall Street opened higher Thursday as technology stocks rebounded and a rise in bond yields helped financial stocks continue the previous session’s rally.
Investing.com - Bitcoin prices pushed higher on Thursday, attempting to break out of what has been a relatively subdued period for the world’s largest digital currency.
Based on the early price action, and the old saying that old tops tend to become new bottoms, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the July 23 top at 1.1751.
Investing.com - Gold prices headed lower on Thursday despite a weaker dollar amid ebbing trade concerns as investors awaited economic data later in the session and looked ahead to the Federal Reserve’s policy session next week.
Gold is currently sitting inside a major technical retracement zone bounded by $1205.90 to $1215.10. This zone is controlling the near-term direction of the market.
NEW DELHI (Reuters) - India has set the dollar exchange rate at 73.65 rupees for import tax calculations effective Sept. 21, compared with 72.55 rupees a fortnight ago, according to a finance ministry ...
Having breached five-month long ascending trend-line, the USDCAD seems well inclined to test the 200-day SMA level of 1.2865, which if broken could open the door for the pair’s drop to 1.2810-2800 support-zone. In case sellers refrain to respect the 1.2800 mark, the 1.2730, the 1.2700 and the 1.2620 are likely following numbers to appear on the chart. Should prices witness pullback from present levels, the support-turned-resistance line near 1.2955 and the 1.3000 round-figure could entertain short-term buyers prior to challenging them with 1.3050, comprising 100-day SMA. ...
Bullish oil prices underpin Loonie and add to the weakness as subdued demand for USD was already influencing a downward pressure in the pair’s price action.
Investing.com - The dollar edged lower against its major rivals on Thursday, hovering around its lowest level in eight weeks as investors set aside trade concerns for now.
India will settle payments for Iranian oil using rupees through local banks starting in November as U.S. sanctions will make it difficult to settle trades through European banks, two industry sources said on Thursday. In May, U.S. President Donald Trump withdrew from a 2015 nuclear accord with Iran and ordered the renewal of U.S. sanctions. Some sanctions took effect from Aug. 6 while those affecting the oil and banking sectors will start from Nov. 4.
Today, we will focus on the two pairs with the JPY an Oil. Let’s start with the EURJPY, where yesterday’s daily candle is a shooting star. It would be meaningless if not the fact that this candle is being present on an important horizontal resistance.
Investing.com - Asian stocks reversed early gains and turned negative in afternoon trade on Thursday.
The gold prices rallied again during the Wednesday’s session but it found $1210 level as too resistive to continue to go higher. The gold market is likely to continue to consolidate in the tight range of $1198 and $1210 until there is any significant improvement in the global macro situation. The silver prices continued to grind higher as it reached towards the $14.30 level in the yesterday’s session, which is also a beginning of significant resistance.
The Euro initially rallied during the day on Wednesday but is facing stiff resistance at the neckline of an inverse head and shoulders pattern that is formed on the daily chart. The market is expected to continue noisy and given the trade wars, USD will experience pressure and “buy on dips” will be the right strategy to continue in this market.
Investing.com - Gold prices traded higher on Thursday, after rising in the previous session, as the dollar weakened amid easing trade concerns between the U.S. and China.
In the Asian markets, it seems that the recovery rally has exhausted. After two days of growth, Asian markets mixed, returning to the levels of the end of last week. Global stocks mostly higher.
One wonders how the Eurozone will achieve higher core inflation if monetary policy slowly tightens and the economic activity slows. Should the Euro appreciate and get back above, say, the 1.20 mark against the greenback, it will be even harder for inflation to accelerate.
The Indian rupee weakened to record lows this year, but it is boosting export competitiveness for the country, said Kalpana Morparia, CEO of J.P. Morgan's South and South East Asia business. Corporate profits have also jumped this year and is set to continue increasing next year, he said at the India Investor Summit.