Bitcoin rises to fresh record above $112,000, helped by Nvidia-led tech rally
Bitcoin hit a fresh record on Wednesday afternoon as an Nvidia-led rally in equities helped lift the crypto’s price into the stock market close.
Trump hits Brazil with a 50% tariff
Trump hits Brazil with a 50% tariff.
Trump tweeted out the letter, here’s page 1:
Brazil’s real is taking a hit on the news. Added – down more than 2%.
This article was written by Eamonn Sheridan at www.forexlive.com.
US equity close: Strong finish as Nvidia hits $4 trillion
Closing changes:
- S&P 500 +0.6%
- Nasdaq +0.9%
- Russell 2000 +1.0%
- DJIA +0.5%
- Toronto TSX Comp +0.3%
It was a big day for technology stocks as Nvidia led the way and reached a $4 trillion market cap — the first time any company has ever done that. After a strong start, US stocks fell nearly flat before steady bids led to a strong close.
Homebuilders, Boeing and Caterpillar were other strong performers in a day that saw both Google and Amazon quickly shake off negative headlines. That kind of resilience is a positive sign going forward but I will be keeping an eye on bitcoin in the day ahead to see if it can touch a new high.
After hours, the WSJ reported on a roughly $3 billion deal to buy the cereal-maker Kellog (KLG) and shares of that company shot 50% higher.
This article was written by Adam Button at www.forexlive.com.
Japanese Yen prolongs weekly downtrend as trade uncertainties temper BoJ rate hike bets
The Japanese Yen (JPY) selling bias remains unabated for the third successive day on Wednesday, which, along with a broadly stronger US Dollar (USD), lifts the USD/JPY pair beyond the 147.00 mark or a fresh two-week high during the Asian session.
RBNZ keeps interest rate steady at 3.25% as expected
The Reserve Bank of New Zealand (RBNZ) board members decided to maintain the Official Cash Rate (OCR) at 3.25% following the conclusion of the July policy meeting on Wednesday.
NZD/USD holds positive ground above 0.6000 as RBNZ leaves interest rate unchanged at 3.25%
The NZD/USD pair gains ground to around 0.6000 during the Asian trading hours on Wednesday. The New Zealand Dollar (NZD) strengthens against the Greenback after the Reserve Bank of New Zealand (RBNZ) interest rate decision.
China Consumer Price Index (YoY) above forecasts (0%) in June: Actual (0.1%)
China Consumer Price Index (YoY) above forecasts (0%) in June: Actual (0.1%)
China Producer Price Index (YoY) registered at -3.6%, below expectations (-3.2%) in June
China Producer Price Index (YoY) registered at -3.6%, below expectations (-3.2%) in June
Sunset Market Commentary
Markets Hardly any data on the agenda to inspire core markets’ trading today. There were also no new headlines from the likes of the UK or Japan highlighting debt sustainability concerns, allow the a momentum slowdown/pauze in the sell-off of ultra-long bonds. Time maybe for some technicals/nearby barriers to do their job. At 3.06%, the […]
The post Sunset Market Commentary appeared first on Action Forex.
RBNZ Rate Hold, Copper Volatility, DAX Makes a Move Toward Fresh Highs
Chinese stocks are set to hit their highest level in three years as investors hope for new steps to fight deflation and boost the economy. Meanwhile, copper prices dropped in London after President Donald Trump issued a new tariff warning. Asian Market Wrap The Shanghai Stock Exchange Composite Index rose 0.4%, reaching its highest level […]
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