Cyber Monday Sale!
AUD/USD portrays the typical pre-data anxiety as it seesaws near 0.6685-90 during the early hours of Wednesday’s Asian session. In doing so, the Aussie pair fails to cheer the risk-positive headlines from Australia’s major customer China amid the recently firmer US Dollar.
EUR/USD remains pressured around 1.0330, after printing a two-day downtrend, as it prepares for the big day during early Wednesday in Asia. The major currency pair stays on the way to posting the biggest monthly run-up in 12 years.
Gold prices climbed on Tuesday even as the US Dollar and bond yields rose but were capped as traders get set for the Federal Reserve's chair, Jerome Powell, who will speak on Wednesday. China and the Coronavirus spread are keeping markets at bay.
Terra's Luna Classic price has been trading range bound for over a week. The consolidating range has produced higher highs and higher lows following each change of trend. If the technicals are correct, LUNC could be setting up for one more 10% decline before a market reversal occurs.
S&P 500 recovered from China uncertainty, keeping right below 4,000 until Williams and Bullard reiterated sticky inflation and high rates views. Reiterated – not brought fresh and unexpected information. Still, stocks and much of the rest declined sharply.