Dollar flat, investors cautious ahead of U.S. election results;
The dollar was essentially unchanged on Tuesday as Americans headed to the polls, its moves limited by investor caution about the U.S. midterm elections and any fallout for the world’s largest economy. Treasury yields rose modestly as more supply came to market and spurred selling. Traders also awaited clues about the Federal Reserve’s potential interest rate increases when policymakers meet on Wednesday and Thursday. Treasury supply has been growing to fund a widening federal budget deficit, the result of the massive tax cut enacted in December and a spending agreement reached in February. Read More @ https://www.reuters.com/article/us-global-markets/stocks-gain-dollar-flat-as-u-s-elections-prompt-investor-caution-idUSKCN1NB032?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29
Wall Street gains as investors look to U.S. elections
Wall Street’s major indexes closed higher on Tuesday as voters headed to the polls in U.S. midterm congressional elections and investors hoped the result would provide some relief for stocks after prolonged uncertainty. Some stocks such as CVS Health Corp (CVS.N) and Mylan NV (MYL.O) were boosted by strong earnings, but despite a late afternoon spike in buying, trading volume was relatively thin as many investors held back on making big bets in case of a surprise election outcome. Wall Street had been expecting that President Donald Trump’s Republican party would lose control of the House of Representatives, while retaining the Senate. Read More @ https://www.reuters.com/article/us-usa-stocks/wall-street-gains-as-investors-look-to-u-s-elections-idUSKCN1NB1MX?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29
WHAT IS THE USD SAYING?
USD Remains at $96 at the Index and waiting for catalyst the election to boost it or correction today; FED is still ahead for another rate hike this year and the USD still remains for another rally. Be cautious as the market consolidates.
TODAY’S NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES
- 8.00am – Japan will release their Average cash earnings – expected to be good.
- 10.00am – NZD will go to action with Inflation expectation data release which is expected to be good.
- 1.00pm – Japan will release their leading indicators and is expected to be weak.
- 3.00pm – Germany will release their Industrial Production data and is expected to be better then previous month – we stay neutral for EURO.
- 5.00 – 6.00pm – Italy and EURO will release their retails sales and is expected to be good; expected price movement in favor of EURO.
- 11.30pm – US will release their CRUDE OIL Inventories and is expected to be high inventory – oil correction is expected.
The market remains sideways and swings till the election is over. Thursday and Friday we are expecting good volatility ahead. Stay focus on good money management at all times.
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