Positive trade headlines and potential fiscal stimulus provided much-needed relief for investors who have been spooked by recessionary cheerleading and toppling bond yields. However, Boston Fed President Rosengren threw a small glass ice water on the risk market rally dubbing the fall in equities since the July FOMC meeting as “not very big”.
Based on the early price action and the current price at .6783, the direction of the AUD/USD on Tuesday is likely to be determined by trader reaction to the uptrending Gann angle at .6767.
Investing.com - U.S. futures were flat on Tuesday on a relatively quiet morning that in which Home Depot's quarterly update helped to dispel some concerns about the impact of the U.S.-China trade war on the domestic economy.
Based on the early price action, the direction of the December Comex gold futures contract early Monday is likely to be determined by trader reaction to the minor pivot at $1517.50.
Based on the early price action and the current price at 106.563, the direction of the USD/JPY on Tuesday is likely to be determined by trader reaction to the uptrending Gann angle at 106.549.
The RBA looks set to hold on rates near-term. For the day ahead, a lack of stats will leave the markets exposed to any trade war chatter.
Investing.com - Gold prices were down on Tuesday in Asia as traders awaited the upcoming Jackson Hole Symposium in Wyoming and a speech by Federal Reserve Chairman Jerome Powell.
The RBA minutes should offer nothing new for investors and should take on a somewhat dovish tone. However, the primary focus for investors this week will be speeches by Governor Lowe and Fed Chair Jerome Powell at the Jackson Hole Symposium.
Fiber continued to slip for the fifth consecutive session today. The Ninja continued to stay within the lower vicinity of the Bollinger Bands, sustaining adverse price actions throughout the day.
With gold confirming a new bull market, it’s time to step back and look at the big picture. Using technical analysis, I’ll provide potential price objectives for the next decade.
Gold markets fell a bit during the trading session on Monday, to reach down and test the $1500 level. By doing so, the Gold markets look as if they are going to continue to attract a lot of money. At this point, I think gold is going to continue to show strength.
The British pound fell a bit during the trading session on Monday to kick off the week, as the Brexit continues to cause major issues. Ultimately, it looks as if the downtrend should continue. With that in mind I continue to sell signs of exhaustion.
The British pound went back and forth during the trading session to open the week on Monday, as we continue to see a lot of questions about the Brexit. Beyond that, we have a certain amount of concern when it comes to global economics.
The Euro tried to rally during the trading session on Monday but has continue to find resistance just above. By selling off after trying to rally, it shows just how soft the Euro truly is.
The Australian dollar has gone back and forth during the trading session on Monday, as we have reached towards the 0.68 AUD level above, an area that has caused quite a bit of resistance as of late.
Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the short-term Fibonacci level at 1.1112.
Gold prices could weaken for several days as traders trim positions ahead of the start of the central banker symposium at Jackson Hole, Wyoming.
Gold and silver are trading down on Monday as investors are betting on riskier assets such as equities and currencies. XAU/USD is testing the 1,490 area, while silver is trading below the 17.00 area.
The European currency got under significant pressure last week and reminded market players that European problems may be much more complicated than meets the eye.
After Friday’s close, Traders were not putting much weight behind current price action thinking it was little more than profit-taking going through from a variety of overextended risk-off bets or as we call it on the desk “a predictable short-covering rally into the weekend.” But risk assets have opened up on stable footings this morning on the back of positive trade comments from President Trump as investors continue to view each sliver of trade optimism in an extremely positive light. This, despite the domino effect from Argentina plus China and the Eurozone economic woes with triggering the U.S. curve inversion panicking investors while sounding the recessionary alarm bells.
Fidelity Charitable, the financial services giant’s charity unit, is now accepting XRP, the world’s third-largest cryptocurrency, for donations. Until now, the unit accepted only four cryptocurrencies - bitcoin (BTC), bitcoin cash (BCH), ether (ETH) and litecoin (LTC), having launched the form of donation back in 2015, according to an announcement shared with The Block late […]The post Fidelity’s charity unit includes XRP to its list of accepted cryptos for donation; hits $100 million-mark appeared first on The Block.
Inflation in the eurozone was the weakest in more than two years in July, according to data released Monday, underscoring the difficulties the European Central Bank has in trying to stimulate the economy as member states keep a tight lid on spending.
Investing.com -- U.S. stocks surged at the start of the new week, with the Dow Jones rising nearly 300 points as the federal government signaled more soft-pedaling on the trade war with China for the time being.