Kathy Lien
BK Asset Management
The 2 day Fed meeting begins today. Here's a look at how has the US economy changed since the June Fed meeting? Does it justify a greenlight for September interest rate cut by the Federal Reserve?
Past performance is not indicative of future results. Trading forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial advisor if you have any doubts.
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EUR/USD tests 1.0800 after upbeat US data
EUR/USD stays under modest bearish pressure and tests 1.0800 in the American session on Tuesday. The US Dollar preserves its strength following the upbeat Job Openings and Consumer Confidence data, causing the pair to stretch lower.
GBP/USD retreats below 1.2850 on renewed USD strength
After moving sideways in the first half of the day, GBP/USD feels bearish pressure and trades below 1.2850. The cautious market stance and upbeat US data releases help the US Dollar (USD) hold its ground and doesn't allow the pair to gather recovery momentum.
Gold continues to move sideways below $2,400
Gold fluctuates in a narrow channel below $2,400 after closing the first trading day of the week little changed. The 10-year US Treasury bond yield holds steady slightly below 4.2% after US data, making it difficult for XAU/USD to gain traction.
Bitcoin price declines as US Government transfers funds worth $2 billion
Bitcoin (BTC) stabilizes around the $68,000 level on Tuesday after failing to close above $70,000 the day before. The US government moved $2 billion worth of Bitcoin from Silk Road's confiscated funds on Monday.
Bank of Japan preview: Exaggerated expectations, and potential impact on Yen, equities and Bonds
Japan's inflation and wage growth have recently come in above expectations, bolstering the speculation about a possible rate hike and reduced bond buying from the Bank of Japan.