|Day's Range||110.56 - 111.315|
|52 Week Range||104.6670 - 114.7250|
Yahoo Finance's Jared Blikre joins Alexis Christoforous from the floor of the New York Stock Exchange to break down the latest market moves.
The U.S. dollar was stronger against other currencies on Tuesday, as political tensions eased and the Turkish lira recovered. The Turkish lira rallied on Tuesday, breaking a 5-day losing streak after the country's central bank pledged to provide liquidity in response to a meltdown that has unsettled global markets. Turkish Finance Minister Berat Albayrak is expected to hold a conference call with investors from the U.S., Europe and the Middle East on Thursday, his first since assuming the post almost two months ago.
Yesterday and today, EURAUD is climbing higher but just to test the super important horizontal resistance. EURAUD met a combination of three crucial elements. The second one is the horizontal resistance, which previously, for many weeks was a support and the third one is the mid-term down trendline.
While break of 1.1510-1.1500 dragged the EURUSD to thirteen-month low, the 200-week SMA, at 1.1355 now, is likely offering an intermediate halt to the pair’s south-run towards the 1.1300-1.1280 horizontal-region. In case the quote refrains to respect the 1.1280 rest-point, the 1.1210 and the 1.1120 might entertain the sellers. Alternatively, the 1.1440-50 may restrict the pair’s immediate advances before highlighting the 1.1500-1.1510 support-turned-resistance. Given the buyers’ ability to surpass 1.1510 barrier, the 1.1565-70 and the 1. ...
Investing.com - The Turkish lira rallied on Tuesday, as the currency found its footing following two days of intense selling after the country's central bank pledged to provide liquidity in response to a meltdown which has unsettled global markets.
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The pair continued to suffer in the Monday’s session initially lower at the open but reversed some of its momenta during the American session. The Euro had lost a significant part of its value in the last two trading sessions due to fears of contagion on European Banks from the economic crisis in Turkey. The negative sentiment prevailed in the market throughout the Monday’s session as the market is very concerned about the entire Turkey situation.
Investing.com - The Turkish lira stabilized while the U.S. dollar slipped on Tuesday as Turkey’s central bank promised to save the country’s financial crisis.
Investing.com - Asian markets were mixed in morning trade on Tuesday as investors continued to digest the impact of the economic uncertainty in Turkey.
Based on the early trade, the direction of the USD/JPY on Tuesday is likely to be determined by trader reaction to the main 50% level at 110.662.
The US dollar initially gapped lower to kick off the week, as traders expressed their concern dealing with the Turkish situation. However, it seems as if things are calming down between Ankara and the United States, and this could give the markets reason enough to put more of a “risk on” face.
The British pound initially gapped lower against the Japanese yen as fears about turkey continue to put a huge “risk off” attitude into the market. However, by the time the Americans came back to work, it looks as Ankara is blinking a bit. Because of this, the pair went straight back up.
China posted weaker-than-expected economic numbers across the board in data just released. Fixed Income Investment came in at 5.5%, down from 6.0% and below a 6.0% forecast. Industrial Production was 6.0%, below the 6.3% estimate, but matching the previous month. Retail Sales fell to 8.8% from 9.0%, also coming in under the 9.2% forecast. Finally, the Unemployment Rate rose to 5.1% from 4.8%.