Investing.com - The U.S. dollar was flat against its rivals Tuesday as the Federal Reserve got its two-day meeting underway.
The U.S. dollar was struggling for direction on Tuesday, having clawed back some ground as the session went on after softer risk sentiment ahead of the impending Federal Reserve policy update and weaker global stocks struggled initially dragged the currency down.
Italy's government has reached an accord with the European Union regarding its controversial budget proposal for 2019, which may avert a clash with officials of Europe's trade bloc, according to reports. Rome's draft budget proposal earlier this year drew a swift rebuke from Brussels because it would have resulted in a budget deficit of 2.4% of gross domestic product, running afoul of EU membership rules. This led to the EU launching a so-called "excessive deficit procedure" against Italy in November, and caused investors to fret about the health of the eurozone's third-largest economy and the stability of the EU more broadly.
Investing.com - Gold prices were little changed on Tuesday as traders turned their attention to this week’s Federal Reserve monetary policy meeting.
Investing.com - The U.S. dollar was lower on Tuesday as investors waited for news from the Federal Reserve’s latest policy meeting.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.14% to 96.41 as of 10:23 AM ET (15:23 GMT), after an overnight high of 96.63.With the Fed expected to increase rates by 25 basis points for the fourth time this year on Wednesday, investors will be watching for any new comments on possible policy changes in 2019. ...
Asian equities slumped across the board following a massive sell-off in the US market. The US market was able to stage a significant rebound on Tuesday as all sectors move higher.
With the Fed widely expected to deliver its fourth rate hike this year at the conclusion of its two-day meeting on Wednesday market moves will be guided by its forward guidance.
London stocks were down on Tuesday, as crude oil prices drop to a fresh low and investors wait nervously for the start of the two Federal Open Market Committee meeting
Based on the current price at 1.1398, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the Fibonacci level at 1.1395.
EURUSD’s U-turn from 1.1270-60 support-zone presently struggles with 50-day SMA level of 1.1395, which if broken can escalate the pair’s recovery to near-term descending trend-line resistance, at 1.1430. Should prices rally beyond 1.1430 on a daily closing basis, the 1.1490, comprising 100-day SMA, followed by 1.1530, may act as intermediate halts during the pair’s surge to 1.1620 level. In case the pair fails to surpass the 1.1395 upside barrier, the 1.1300 and the 1.1270-60 could regain market attention. However, sustained downturn beneath 1.1260 might only have 1. ...
There is one problem that could arise for gold traders. It has to do with the post-meeting remarks from Fed Chair Jerome Powell. He is expected to tone down his assessment of the economy and inflation. However, by doing so, he runs the risk of coming across as too dovish.
USDCAD continues to decline on broad based cautious investor sentiment ahead of US FOMC update but dovish crude oil price in broad market helps limit downside move of US Greenback.
Investing.com - The U.S. dollar slid lower against a currency basket on Tuesday ahead of this week's Federal Reserve meeting while the yen remained supported amid concerns over the outlook for global growth.
Based on the early price action, the direction of the February Comex gold market the rest of the session is likely to be determined by trader reaction to the short-term Fibonacci level at $1248.90.
Gold is looking north ahead of the FOMC rate decision as Dollar is subdued in market ahead of Fed forward guidance.
AUD starts this week on the back foot. From the technical point of view, the drop is supported by the Head and Shoulders formation and by the breakout of the lower line of the symmetric triangle pattern. Some may see an additional Head and Shoulders pattern, which only adds to the bearish sentiment here.
The Indian rupee touched a near three-week high against the dollar on Tuesday on lower crude prices and expectations of fewer U.S. rate hikes in 2019 as markets counted down to a crucial Federal Reserve meeting. "There is no demand for dollars because of expectations of lesser number of Fed rate hikes," said a senior dealer at a state-run bank. The Fed will announce its rate decision after its two-day meeting ends on Wednesday.
Investing.com - Gold prices slipped on Tuesday in Asia as investors awaited the U.S. Federal Reserve’s latest monetary policy decision.
While most of the content of the minutes was widely anticipated, the Reserve Bank did warn that falling household consumption, fueled by declining real estate values and high debt levels is a key source of uncertainty for the Australian economy.
Investing.com - Bitcoin surged above the $3,500 mark on Tuesday in Asia, while other major cryptocurrency prices also jumped.
Investing.com - The U.S. dollar was flat on Tuesday in Asia as investors waited for the Federal Reserve to deliver its latest monetary policy decision.