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  • Dollar slumps after healthcare bill failure

    March 27, 2017, 11:50

    Investing.com - The dollar slumped to the lowest levels in four months against a basket of the other major currencies on Monday as doubts about the Trump administration’s ability to deliver on campaign economic pledges rattled investors.

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.72% at 98.87, its lowest trough since November 11.

    The index had surged to almost 14-year highs in early January on the back of expectations for a strong economic recovery and higher inflation, the so called ‘Trump Trade’.

    A planned vote on legislation to repeal and replace the Affordable Care Act was pulled on Friday night after it became apparent that it didn’t have enough support from Republicans.

    The vote had been viewed by investors as a critical test of President Trump's ability to work with Congress to deliver on his pro-growth economic agenda, including tax cuts and infrastructure spending.

    The dollar was down more than 1% against the traditional safe haven yen, with USD/JPY last at 110.23 after plumbing 110.12, the lowest level since November 18.

    The euro advanced to its highest levels since early December, with EUR/USD climbing 0.74% to 1.0878.

    The single currency hit the day’s highs after European Central Bank executive board member Sabine Lautenschlager said markets should prepare for a change in ECB policy.

    The remarks added to speculation that the central bank is preparing for a withdrawal of quantitative easing.

    Earlier in the day a report showed that German investor sentiment hit a 68-month high this month, suggesting that concerns over protectionism are easing.

    The Ifo business climate survey jumped to 112.3 this month, from 111.1 in February.

    Sterling was also higher against the weaker dollar, with GBP/USD advancing 0.96% to 1.2592.

    The selloff in the dollar overshadowed concerns about Britain beginning the formal process of exiting the European Union later in the week.

    Meanwhile, the Australian and New Zealand dollars were higher, with AUD/USD up 0.29% to 0.7646 and NZD/USD rising 0.56% to 0.7064.

    Read More
  • EC approved Dow/DuPont merger subject to conditions

    March 27, 2017, 11:45

    Investing.com - The EC Monday conditionally approved (NYSE:Dow) and (NYSE:DuPont's) proposed merger.
    Approval is subject to divestiture of major parts of DuPont's global pesticide business.
    Commissioner Margrethe Vestager said the U.S. chemical firms had addressed pesticide price competition concerns.
    They also agreed to sell part of Dow’s petrochemical business to preserve competition.

    Read More
  • Charts suggest dollar may face critical point this week

    March 27, 2017, 11:29

    Investing.com – Technical charts for the dollar suggest the currency could face a critical juncture as soon as this week.
    The 20-year weekly chart shows a steeper upward trend for the dollar from early 2014.
    If this uptrend breaks down, the dollar will very likely have signaled its top within its longer, 15-year super cycle.
    Charts of dollar movements over the past several months indicate the U.S. currency is at a short-term inflection point.
    It may be forming a double bottom pattern from which it will bounce off.
    The alternative would be for it to break down creating a failed trading cycle.
    We are either on day 35 of the current trading cycle or on day 2 of a new trading cycle.
    This suggests the direction the dollar takes will be decided rather soon.

    Read More
  • U.S. futures point to triple-digit drop in Dow after health-care fail

    March 27, 2017, 11:02

    Investing.com - Wall Street stock futures pointed to a lower open on Monday as investors fretted that U.S. President Donald Trump’s failure to gather enough support to repeal and replace health care was an indicator of troubles he may have in the future with other promised fiscal policies, such as tax reform or infrastructure spending.

    The blue-chip Dow futures fell 129 points, or 0.63%, by 6:57AM ET (10:57GMT), the S&P 500 futures lost 19 points, or 0.80%, while the tech-heavy Nasdaq 100 futures traded down 37 points, or 0.69%.

    In the risk-off trade environment, safe-haven assets such as the Japanese yen and precious metals were in demand, as the U.S. dollar took a hit.

    The dollar against a basket of currencies on Monday after Trump's failure to push through a healthcare reform bill prompted investors to question the extent to which he can deliver on growth policies that have been priced in since his election.

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.64% at 98.95 by 6:59AM ET (10:59GMT). It fell to an overnight low of 98.87, a level not seen since November 11.

    The index had risen to a 14-year high near 104.00 early in January when expectations for significant stimulus under the Trump presidency were at their peak.

    Against the yen, the dollar fell more than 1% to 110.12 at one point, its weakest since November 18. It last traded at 110.34, down around 0.9% for the day (USD/JPY).

    Meanwhile, the euro rose to 1.0874 against the greenback, its highest since December 8, and was last at around 1.0865 (EUR/USD).

    Gold prices rallied to a four-week high on Monday, as concern that markets had overpriced the impact of Trump fiscal policies pushed investors toward safe haven assets.

    Comex gold futures reached a session peak of $1,259.20 a troy ounce, the highest since February 27. It last traded at $1,256.75, up $8.25, or 0.66%.

    Monday’s session lacked any major economic reports stateside, but market players will still gauge the pulse of the Federal Reserve (Fed) in its intentions to gradually remove accommodative policy.

    Both Chicago Fed president Charles Evans and Dallas Fed chief Robert Kaplan were scheduled for separate appearances at 1:15PM (17:15GMT) and 6:30PM (22:45GMT), respectively.

    Meanwhile, oil prices started the week lower on Monday, holding near the weakest level since the end of November as uncertainty over whether an OPEC-led production cut will be extended beyond June fed concerns about a global supply glut.

    A joint committee of ministers from OPEC and non-OPEC oil producers has agreed to review whether a global pact to limit supplies should be extended by six months once again in April, it said in a statement on Sunday.

    U.S. crude futures fell 0.75% to $47.61 by 7:01AM ET (11:01GMT), while Brent oil lost 0.51% to $50.66.

    Elsewhere, European stocks were under pressure in mid-morning trade, with Germany's DAX down 1%, while London's FTSE100 dipped 0.9%.

    Earlier, in Asia, markets ended in negative territory, with the Shanghai Composite in China closing down around 0.1%, while Japan's Nikkei sank 1.5% to its lowest levels since early February.

    Read More
  • U.S. stock index futures lower as Trump healthcare deal flops

    March 27, 2017, 10:55

    Investing.com - U.S. stock index futures were lower Monday as the House pulled a healthcare bill vote on a lack of support.
    That raised doubts about Trump's ability to push ahead with his pro-growth agenda.
    The Dow futures was off 0.69% at 06:45 ET. The DJI shed 0.29% on Friday.
    The S&P 500 futures shed 0.86%. The tech-heavy Nasdaq 100 futures lost 0.78%.
    The dollar index fell below 99 to levels last seen in November.
    Oil was lower as Baker Hughes rig count rose amid doubts about extension of output cuts.
    Healthcare stocks are likely to be in focus after Trump's setback.
    Banks were lower pre-market as U.S. Treasury yields retreated.

    Read More
  • Sri Lanka stocks lower at close of trade; CSE All-Share down 0.36%

    March 27, 2017, 10:45

    Investing.com – Sri Lanka stocks were lower after the close on Monday, as losses in the Information Technology, Land&Property and Diversified Holdings sectors led shares lower.

    At the close in Colombo, the CSE All-Share declined 0.36% to hit a new 52-week low.

    The best performers of the session on the CSE All-Share were Kelsey Developments PLC (CM:KDL), which rose 20.10% or 7.70 points to trade at 46.00 at the close. Meanwhile, Adam Investments Ltd (CM:ADAM) added 20.00% or 0.100 points to end at 0.600 and Ceylon Printers PLC (CM:CPRT) was up 15.80% or 7.90 points to 57.90 in late trade.

    The worst performers of the session were PC Pharma PLC (CM:PCPH), which fell 50.00% or 0.2000 points to trade at 0.2000 at the close. SMB Leasing PLC (CM:SEMB) declined 20.00% or 0.1000 points to end at 0.4000 and Serendib Land PLC (CM:SLND) was down 18.67% or 310.20 points to 1351.00.

    Rising stocks outnumbered declining ones on the Colombo Stock Exchange by 93 to 74 and 63 ended unchanged.

    Shares in PC Pharma PLC (CM:PCPH) fell to all time lows; losing 50.00% or 0.2000 to 0.2000. Shares in SMB Leasing PLC (CM:SEMB) fell to 5-year lows; falling 20.00% or 0.1000 to 0.4000.

    Crude oil for May delivery was down 0.75% or 0.36 to $47.61 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June fell 0.51% or 0.26 to hit $50.66 a barrel, while the April Gold Futures contract rose 0.70% or 8.75 to trade at $1257.25 a troy ounce.

    GBP/LKR was up 0.89% to 191.295, while USD/LKR rose 0.15% to 151.990.

    The US Dollar Index Futures was down 0.65% at 98.94.

    Read More
  • Indonesia stocks lower at close of trade; IDX Composite Index down 0.47%

    March 27, 2017, 10:15

    Investing.com – Indonesia stocks were lower after the close on Monday, as losses in the Financials, Trade and Property sectors led shares lower.

    At the close in Jakarta, the IDX Composite Index declined 0.47%.

    The best performers of the session on the IDX Composite Index were Tirta Mahakam Resources Tbk (JK:TIRT), which rose 24.37% or 58 points to trade at 296 at the close. Meanwhile, Mahaka Radio Integra Tbk PT (JK:MARI) added 22.00% or 220 points to end at 1220 and Asiaplast Industries Tbk (JK:APLI) was up 18.55% or 23 points to 147 in late trade.

    The worst performers of the session were Atlas Resources Tbk (JK:ARII), which fell 23.35% or 92 points to trade at 302 at the close. Fks Multi Agro Tbk (JK:FISH) declined 20.90% or 700 points to end at 2650 and Asuransi Jasa Tania Tbk (JK:ASJT) was down 11.29% or 56.00 points to 440.00.

    Falling stocks outnumbered advancing ones on the Jakarta Stock Exchange by 205 to 114 and 105 ended unchanged.

    Shares in Tirta Mahakam Resources Tbk (JK:TIRT) rose to all time highs; gaining 24.37% or 58 to 296. Shares in Atlas Resources Tbk (JK:ARII) fell to 52-week lows; falling 23.35% or 92 to 302. Shares in Mahaka Radio Integra Tbk PT (JK:MARI) rose to all time highs; rising 22.00% or 220 to 1220.

    Crude oil for May delivery was down 0.88% or 0.42 to $47.55 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June fell 0.67% or 0.34 to hit $50.58 a barrel, while the April Gold Futures contract rose 0.72% or 9.05 to trade at $1257.55 a troy ounce.

    USD/IDR was up 0.02% to 13303.2, while AUD/IDR fell 0.31% to 10118.35.

    The US Dollar Index Futures was down 0.67% at 98.92.

    Read More
  • Top 5 Things to Know in the Market on Monday

    March 27, 2017, 09:58

    Investing.com - Here are the top five things you need to know in financial markets on Monday, March 27:

    1. Global stocks slide after GOP healthcare flop

    U.S. stock market futures pointed to a sharply lower open on Monday morning, with the Dow futures falling by 150 points to a six-week low after President Donald Trump's failure to pass healthcare reform raised doubts over his ability to push through his pro-growth economic agenda.

    In Europe, stocks were under pressure in mid-morning trade, with Germany's DAX down 1%, while London's FTSE100 dipped 0.9%.

    Earlier, in Asia, markets ended in negative territory, with the Shanghai Composite in China closing down around 0.1%, while Japan's Nikkei sank 1.5% to its lowest levels since early February.

    2. Dollar sinks to lowest since November as 'Trump Trade' deflates

    The dollar slid to a near five-month low against a basket of currencies on Monday after President Donald Trump's failure to push through a healthcare reform bill prompted investors to question the extent to which he can deliver on growth policies that have been priced in since his election.

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down almost 0.7% at 98.91 in early New York morning trade. It fell to an overnight low of 98.87, a level not seen since November 11.

    The index had risen to a 14-year high near 104.00 early in January when expectations for significant stimulus under the Trump presidency were at their peak.

    Against the yen, the dollar fell more than 1% to 110.12 at one point, its weakest since November 18. It last traded at 110.35, down around 0.9% for the day (USD/JPY).

    Meanwhile, the euro rose to 1.0874 against the greenback, its highest since December 8, and was last at around 1.0860 (EUR/USD).

    3. Oil prices start the week lower amid OPEC uncertainty

    Oil prices started the week lower on Monday, holding near the weakest level since the end of November as uncertainty over whether an OPEC-led production cut will be extended beyond June fed concerns about a global supply glut.

    U.S. crude was down 39 cents, or about 0.8%, to $47.58 a barrel, while Brent fell 33 cents to $50.59.

    A joint committee of ministers from OPEC and non-OPEC oil producers has agreed to review whether a global pact to limit supplies should be extended by six months once again in April, it said in a statement on Sunday.

    The statement failed to impress investors, who were hoping for more concrete news on whether output curbs would be extended beyond June.

    4. Gold jumps to highest level in a month

    Gold prices rallied to a four-week high on Monday, as growing doubts about U.S. President Donald Trump's pro-growth economic agenda prompted investors to dump risky assets and rush to safe havens.

    Comex gold futures reached a session peak of $1,259.20 a troy ounce, the highest since February 27. It was last at $1,257.75, up $9.20, or around 0.8%.

    5. German business sentiment rises to highest since 2011

    German business confidence improved to the highest level since June 2011, suggesting company executives in Europe's largest economy are brushing off concerns about the rising threat of protectionism.

    The Ifo German research institute said its Business Climate Index rose to 112.3 this month from a reading of 111.1 in February, above forecasts for 111.0.

    The monthly index is based on a survey of around 7,000 German firms in the manufacturing, construction, wholesale and retail sectors.

    Read More
  • What to expect from sterling as Brexit begins

    March 27, 2017, 09:41

    Investing.com - With British Prime Minister Theresa May poised to trigger Article 50 of the Lisbon Treaty on Wednesday, the formal launch of the UK’s two-year divorce proceedings from the European Union will get underway.

    The long term outlook for sterling will be determined by the final Brexit deal, but shorter term price action will be dictated by shifting possibilities as fresh political developments emerge.

    Sterling plunged from highs of $1.50 to a 31-year low of $1.32 in the aftermath of the June Brexit vote and is currently down around 14% against the U.S. dollar since the referendum.

    Triggering Article 50 is likely to crystalize Brexit risks and the EU response to May’s vision for Brexit has so far suggested that a smooth transition to divorce is unlikely.

    May outlined her Brexit strategy in a speech in January and has said repeatedly since then that she is prepared to walk away from negotiations without a deal if she is dissatisfied with the terms on offer.

    She aims to leave the single market and clamp down on immigration. She wants a “bold and ambitious” trade relationship with the EU, but also the freedom to negotiate trade agreements with other countries.

    Politics will dominate, at least in the early part of negotiations. The EU negotiating team’s response to Article 50 should become clear by the end of April and the EU stance will be critical in setting the tone for exit negotiations and trade deals with the currency bloc.

    Meanwhile, UK inflation is at its highest level in over three years, retail sales have faltered and pay growth has slowed significantly, despite continuing low levels of unemployment.

    The steep drop in sterling since the Brexit vote, combined with a recovery in global oil prices has pushed prices higher in recent months, leading to fears that rising inflation will erode consumer spending, the main driver of growth in the UK economy.

    The BoE has said it expects inflation will peak at 2.8% in the second quarter of next year but many economists say it is likely to hit 3%.

    Rising inflation has fueled expectations that the BoE could hike interest rates more quickly than expected, particularly after the minutes of the BoE’s March meeting showed that one policymaker voted for a rate hike.

    According to analysts at MNI, the chances of a rate increase later this year have nearly doubled since the hawkish minutes.

    “The market is now pricing in a 44% chance of a 25bp rate hike in Nov 2017, up from 25% last Monday as Kristen Forbes calls for a 25bp rate hike due to rising inflation and better growth, while there was some hawkish undertones from some other members in the MPC minutes as well,” MNI said.

    But analysts at Morgan Stanley said in a note on March 21 that they think a rise in inflation driven by energy or by the sterling exchange rate is less likely to prompt tighter policy than rising pay growth or inflation expectations.

    The prospect of another Scottish independence referendum also poses a risk to sterling, as it would lead to a prolonged period of political uncertainty on the domestic front.

    Most forex analysts expect sterling to come under heavy selling pressure as the Brexit negotiations unfold. It could drop to parity with the euro and perhaps even against the dollar.

    Currency analysts at Deutsche Bank said sterling could fall as low as $1.06 from around $1.2560 currently, as the Brexit process weighs.

    In a special report on Brexit, they wrote "we do not see sterling (currently) fully pricing a hard Brexit outcome. Combined with limited adjustment in the UK’s current account deficit and slowing growth, we see further downside, and forecast $1.06 in by year-end."

    Other forex analysts don’t expect the triggering of Article 50 to have a major short-term impact on the pound, predicting that the currency could rebound as markets react positively once there is greater clarity on the issue.

    Analysts at ING Group said in a research note that while they believe the broader risks to sterling lie to the downside, they expect the triggering of Article 50 to have more of a symbolic impact on the pound.

    “It will serve as a reality check that a tricky few years lie ahead as Brexit negotiations unfold and a new UK-EU economic relationship takes shape,” the March 14 note said.

    ING sees one final leg of Brexit adjustment left. “We look for GBP/USD to form a cyclical base below $1.20, while expecting EUR/GBP to stabilize between 0.88-0.90.”

    Morgan Stanley thinks the triggering of Article 50 is already priced into sterling.

    “There may be many Article 50-related news headlines in the coming weeks but we believe that a lot of the negativity around Brexit-related economic data weakness is already in the price,” analysts at the investment bank said in a note to clients on March 2.

    But Bank of America Merrill Lynch is bearish on the outlook for sterling as Brexit looms.

    “We reject the notion that sterling has fully priced Article 50 and beyond. Risks to the currency remain to the downside on a disruptive start to negotiations,” analysts said in a March 2 note.

    Meanwhile, political risks to both the dollar and the euro remain to the forefront.

    The dollar dropped to four-month lows against a currency basket on Monday after the Trump administration failed to push through legislation to overhaul healthcare when it didn’t receive enough support from Republicans.

    The vote had been viewed by investors as a critical test of Trump's ability to work with Congress to deliver on his pro-growth economic agenda, including tax cuts and infrastructure spending.

    Dollar bulls had already been disappointed after the Federal Reserve hiked interest rates earlier this month, but did not signal a faster pace of future monetary tightening as many had anticipated.

    The dollar had surged to almost 14-year highs against a basket of the other major currencies in early January amid expectations for a strong economic recovery and higher inflation, the so called ‘Trump Trade’.

    Investors were also monitoring political developments in the euro zone ahead of the upcoming French presidential elections, with investors fearful over what a victory for far-right anti-EU leader Marine Le Pen would mean.

    Read More
  • Philippines stocks lower at close of trade; PSEi Composite down 0.33%

    March 27, 2017, 08:35

    Investing.com – Philippines stocks were lower after the close on Monday, as losses in the Holding Firms, Banking&Financials and Industrials sectors led shares lower.

    At the close in Philippines, the PSEi Composite declined 0.33%.

    The best performers of the session on the PSEi Composite were PLDT Inc (PS:TEL), which rose 3.12% or 49.00 points to trade at 1619.00 at the close. Meanwhile, SM Prime Holdings Inc (PS:SMPH) added 1.79% or 0.500 points to end at 28.500 and LT Group Inc (PS:LTG) was up 1.43% or 0.220 points to 15.640 in late trade.

    The worst performers of the session were Jollibee Foods Corp (PS:JFC), which fell 3.14% or 5.90 points to trade at 182.10 at the close. Metropolitan Bank and Trust Co (PS:MBT) declined 3.10% or 2.40 points to end at 75.05 and Ayala Corp (PS:AC) was down 2.31% or 19.50 points to 825.50.

    Falling stocks outnumbered advancing ones on the Philippines Stock Exchange by 90 to 80 and 51 ended unchanged.

    Shares in Jollibee Foods Corp (PS:JFC) fell to 52-week lows; losing 3.14% or 5.90 to 182.10.

    Gold Futures for April delivery was up 0.73% or 9.15 to $1257.65 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May fell 0.90% or 0.43 to hit $47.54 a barrel, while the June Brent oil contract fell 0.69% or 0.35 to trade at $50.57 a barrel.

    CNY/PHP was down 0.07% to 7.2842, while USD/PHP fell 0.23% to 50.086.

    The US Dollar Index Futures was down 0.65% at 98.94.

    Read More
  • Euro Zone Private Sector Lending 2.3% vs. 2.3% forecast

    March 27, 2017, 08:00

    Private sector lending in the euro zone rose last month, official data showed on Monday.

    In a report, European Central Bank said that Euro Zone Private Sector Lending rose to 2.3%, from 2.2% in the preceding month.

    Analysts had expected Euro Zone Private Sector Lending to rise to 2.3% last month.
    Read More
  • Dollar drops to 4-month lows after U.S. healthcare flop

    March 27, 2017, 07:53

    Investing.com - The dollar dropped to four-month lows against a basket of the other major currencies on Monday as the failure of U.S. Republicans to get enough support for their own bill to overhaul healthcare rattled investors.

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.7% at 98.88, its lowest trough since November 11.

    The index had surged to almost 14-year highs in early January propelled higher by expectations for a strong economic recovery and higher inflation, the so called ‘Trump Trade’.

    A planned vote on legislation to repeal and replace the Affordable Care Act was pulled on Friday night after it became apparent that it didn’t have enough support from Republicans.

    The failure of the Trump administration to push through legislation to replace Obamacare renewed doubts over Trump’s ability to deliver on the rest of his pro-growth economic agenda, such as corporate tax cuts, regulatory reform and infrastructure spending.

    The dollar fell more than 1% against the traditional safe haven yen, with USD/JPY dropping 1.08% to 110.15, the lowest level since November 18.

    The euro advanced to its highest levels since early December, with EUR/USD climbing 0.62% to 1.0864.

    Sterling was also higher against the weaker dollar, with GBP/USD rising 0.74% to 1.2565.

    The selloff in the dollar overshadowed concerns about Britain beginning the formal process of leaving the European Union later in the week.

    Meanwhile, the Australian dollar was slightly higher, with AUD/USD up 0.13% to 0.7634, while the New Zealand dollar pushed higher, with NZD/USD rising 0.43% to 0.7056.

    Read More
  • Gold hits 4-week high as dollar sinks on U.S. healthcare flop

    March 27, 2017, 07:21

    Investing.com - Gold prices rallied to a four-week high during European morning hours on Monday, as growing doubts about U.S. President Donald Trump's pro-growth economic agenda prompted investors to dump risky assets and rush to safe havens.

    Comex gold futures reached a session peak of $1,259.20 a troy ounce, the highest since February 27. It was last at $1,257.75 by 3:20AM ET (07:20GMT), up $9.20, or around 0.8%.

    Meanwhile, spot gold was up $13.00 at $1,258.00.

    The dollar slid to a near five-month low against a basket of currencies on Monday after President Donald Trump's failure to push through a healthcare reform bill prompted investors to question the extent to which he can deliver on growth policies that have been priced in since his election.

    Investors viewed the Trump administration's failure to push through a healthcare overhaul as a sign he may also face further setbacks delivering on other policy pledges including corporate tax cuts, regulatory reform and infrastructure spending.

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.6% at 98.96 in London morning trade, a level not seen since November 11.

    The index had risen to a 14-year high near 104.00 early in January when expectations for significant stimulus under the Trump presidency were at their peak.

    Meanwhile, U.S. Treasury yields edged lower, with the benchmark 10-year note yield falling to a four-week low of 2.357%.

    Also on the Comex, silver futures for May delivery jumped 16.5cents, or about 1%, to $17.91 a troy ounce, the most since March 6.

    Meanwhile, platinum added 0.8% to $978.50, while palladium shed 0.7% to $807.67 an ounce.

    Elsewhere in metals trading, copper futures dropped 3.5 cents, or 1.3%, to $2.596 a pound.

    Read More
  • Dollar lower as Trump healthcare vote pulled

    March 27, 2017, 07:07

    Investing.com - The dollar was lower Monday as the House pulled a U.S. healthcare bill vote amid a lack of support for its passage.
    The setback threw into question the Trump administration's ability to deliver on its pro-growth agenda.
    The dollar index was off 0.53% at 99.06 at 02:30 ET near levels last seen in mid-November.
    The greenback was down 1.05% at 110.20 yen.
    Trump said he would now focus on overhauling the U.S. tax system.
    U.S. Treasury yields fell, with the 10-year below the 2.4% mark.
    The pound was firm above the $1.25 level with Article 50 on Brexit talks set to be triggered on Wednesday.
    The euro was up 0.55% at $1.0857 as EU leaders called for unity and pledged to focus on economic growth and jobs.

    Read More
  • Taiwan stocks lower at close of trade; Taiwan Weighted down 0.26%

    March 27, 2017, 06:45

    Investing.com – Taiwan stocks were lower after the close on Monday, as losses in the , Paper&Pulp and Glass sectors led shares lower.

    At the close in Taiwan, the Taiwan Weighted declined 0.26%.

    The best performers of the session on the Taiwan Weighted were Kpt Industries (TW:1805), which rose 9.97% or 0.86 points to trade at 9.49 at the close. Meanwhile, Opto Tech (TW:2340) added 9.79% or 1.65 points to end at 18.50 and Taliang (TW:3167) was up 6.45% or 2.25 points to 37.15 in late trade.

    The worst performers of the session were Jess-Link (TW:6197), which fell 10.00% or 4.15 points to trade at 37.35 at the close. Jye Tai Precision Industrial Co Ltd (TW:6165) declined 9.93% or 4.70 points to end at 42.65 and Ruentex Ind (TW:2915) was down 9.91% or 5.70 points to 51.80.

    Falling stocks outnumbered advancing ones on the Taiwan Stock Exchange by 636 to 173 and 68 ended unchanged.

    Shares in Kpt Industries (TW:1805) rose to 52-week highs; gaining 9.97% or 0.86 to 9.49. Shares in Opto Tech (TW:2340) rose to 3-years highs; rising 9.79% or 1.65 to 18.50. Shares in Taliang (TW:3167) rose to 52-week highs; up 6.45% or 2.25 to 37.15.

    Crude oil for May delivery was down 1.02% or 0.49 to $47.48 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June fell 0.86% or 0.44 to hit $50.48 a barrel, while the April Gold Futures contract rose 0.79% or 9.85 to trade at $1258.35 a troy ounce.

    USD/TWD was down 0.92% to 30.205, while TWD/CNY rose 0.04% to 0.2265.

    The US Dollar Index Futures was down 0.58% at 99.01.

    Read More
  • Top things to watch on the economic front this week

    March 27, 2017, 06:22

    Investing.com - U.K. set Wednesday to invoke Article 50 to trigger Brexit talks.
    Fed Chair Janet Yellen speaks Tuesday, other Fed members comments expected.
    U.S. 4th quarter GDP final estimate due Thursday.
    Euro-zone flash March Inflation figures scheduled for Friday.
    Chinese March manufacturing data due Friday.

    Read More
  • Asian shares down on Trump healtcare fallout

    March 27, 2017, 04:07

    Investing.com - Shares in Asia fell on Monday as markets reacted to the failure last week of U.S. President Donald Trump to overhaul U.S. healthcare and what it may portend for planned tax cuts and infrastructure spending.

    Japan's Nikkei 225 dropped more than 1.50%, while Australia's S&P/ASX ASX 200 dipped 0.17%.

    In Australia, BHP Billiton (LON:BLT) dropped 2.72% after the resolution of the Escondida copper mine strike in Chile, for now, left the Australian miner with a loss of about $1 billion and in a weaker negotiation position, Reuters reported. In South Korea, the Kospi was off 0.46% after South Korean prosecutors said they will seek a detention warrant for ousted President Park Geun-hye, who has been accused of taking bribes from big businesses.

    The Shanghai Composite fell 0.39%, while Hong Kong's Hang Seng index eased 0.17%.

    Last week, U.S. stocks closed mixed on Friday, after the House of Representatives’ withdrew a health care bill to repeal and replace Obamacare, as chances of passing the bill appeared slim amid a lack of votes.

    House Speaker Ryan, added to fears that the setback in health care reform could dampen the success of future legislation being passed, after he admitted that “it [the withdrawal of the health care bill] does make tax reform more difficult but it does not make it impossible.”

    The Dow offered the biggest reaction to the news, as it moved sharply off the lows but eventually closed in negative territory.

    The Dow Jones Industrial Average slumped 59 points, or 0.29%, to close at 20,596. The S&P 500 gained 0.11% and the Nasdaq Composite closed at 5,828 up 0.19%.

    Read More
  • Dollar falls to lowest vs yen since November on healthcare fail

    March 27, 2017, 02:52

    Investing.com - The dollar fell to its lowest level against the yen since late November in Asia on Monday on heightened political risk concerns as a Republican-controlled Congress and presidency are in focus to deliver on economic plans for tax cuts and spending following a failed effort to reform healthcare.

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, dropped 0.47% to 99.12.

    In Japan, the corporate services price index rose 0.8% year-on-year, beating an expected 0.5% gain. USD/JPY changed hands at 110.36, down 0.91%, while AUD/USD traded at 0.7624, flat.

    "This is the market reacting to Donald Trump's failure to implement one of his major campaign promises," said Bart Wakabayashi of State Street.

    As well, Prime Minister Theresa May will set out how her government plans to restore sovereignty over Britain's laws on Thursday, publishing a detailed paper on ending "the supremacy of EU lawmakers," according to Reuters. GBP/USD traded at 1.2520, up 0.38%.

    On Monday, the Ifo Institute will report on German business climate and Federal Reserve Bank of Chicago President Charles Evans and Dallas Fed President Robert Kaplan are scheduled to speak.

    Last week, the dollar pulled back from a four-month trough against the safe haven yen on Friday after Republican leaders dropped legislation to replace the Affordable Care Act before a planned vote, in a setback to President Donald Trump.

    Republican leaders pulled legislation to overhaul the U.S. healthcare system before a vote in the House of Representatives after it failed to gather enough support to pass.
    The defeat for the bill added to doubts over the Trump administration’s ability to push through the pro-growth economic agenda promised by the president.

    Investors viewed the Trump administration's failure to push through a healthcare overhaul as a sign he may also face further setbacks delivering on other policy pledges including corporate tax cuts, regulatory reform and infrastructure spending.

    The single currency has been boosted by expectations for monetary tightening by the European Central Bank later this year and growing hopes that the far-right anti-EU leader Marine Le Pen will be defeated in the French presidential elections.

    Read More
  • Asian shares drop as fallout from Trump defeat hits sentiment

    March 27, 2017, 01:34

    Investing.com - Asian markets fell on Monday with the Nikkei down more than 1% as markets reacted to the failure of U.S. President Donald Trump's legislative defeat last week on healthcare and what it may potend for planned tax cuts and infrastructure spending.

    Japanese benchmark Nikkei 225 dropped 1.54%, while Australia's S&P/ASX 200 dipped 0.50%. The Shanghai Composite opened slightly weaker. The dollar fell to two-month lows and gold jumped.

    Last week, U.S. stocks closed mixed on Friday, after the House of Representatives’ withdrew a health care bill to repeal and replace Obamacare, as chances of passing the bill appeared slim amid a lack of votes.

    House Speaker Ryan, added to fears that the setback in health care reform could dampen the success of future legislation being passed, after he admitted that “it [the withdrawal of the health care bill] does make tax reform more difficult but it does not make it impossible.” The Dow offered the biggest reaction to the news, as it moved sharply off the lows but eventually closed in negative territory.

    The Dow Jones Industrial Average slumped 59 points, or 0.29%, to close at 20,596. The S&P 500 gained 0.11% and the Nasdaq Composite closed at 5,828 up 0.19%.

    Read More
  • Japan’s CSPI 0.8% vs. 0.5% forecast

    March 26, 2017, 11:50

    Japan’s corporate services price index rose unexpectedly last month, official data showed on Sunday.

    In a report, Bank Of Japan said that Japan’s CSPI rose to a seasonally adjusted annual rate of 0.8%, from 0.5% in the preceding month.

    Analysts had expected Japan’s CSPI to remain unchanged at 0.5% last month.
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  • Saudi Arabia stocks lower at close of trade; Tadawul All Share down 0.07%

    March 26, 2017, 01:15

    Investing.com – Saudi Arabia stocks were lower after the close on Sunday, as losses in the Media&Publishing, Financial Services and Agriculture&Food sectors led shares lower.

    At the close in Saudi Arabia, the Tadawul All Share lost 0.07%.

    The best performers of the session on the Tadawul All Share were Allied Cooperative Insurance Group (SE:8150), which rose 6.51% or 0.95 points to trade at 15.55 at the close. Meanwhile, Al Hammadi Co (SE:4007) added 4.94% or 1.90 points to end at 40.40 and AL-BABTAIN POWER &TELECOM CO (SE:2320) was up 4.21% or 1.20 points to 29.70 in late trade.

    The worst performers of the session were National Agriculture Development Co (SE:6010), which fell 4.51% or 1.20 points to trade at 25.40 at the close. United Electronics Company (SE:4003) declined 3.71% or 1.30 points to end at 33.70 and Arab National Bank (SE:1080) was down 3.26% or 0.65 points to 19.30.

    Rising stocks outnumbered declining ones on the Saudi Arabia Stock Exchange by 78 to 70 and 30 ended unchanged.

    Crude oil for May delivery was up 0.84% or 0.40 to $48.10 a barrel. Elsewhere in commodities trading, Brent oil for delivery in May rose 0.85% or 0.43 to hit $50.99 a barrel, while the April Gold Futures contract fell 0.34% or 4.20 to trade at $1243.00 a troy ounce.

    EUR/SAR was up 0.17% to 4.0516, while USD/SAR rose 0.00% to 3.7499.

    The US Dollar Index Futures was up 0.03% at 99.59.

    Read More
  • Gold / Silver / Copper futures - weekly outlook: March 27 - 31

    March 26, 2017, 11:04

    Investing.com - Gold prices retraced gains late Friday but still notched up a second weekly rise as concerns over the Trump administration’s ability to push through its pro-growth economic agenda underpinned safe haven demand.

    Gold for April delivery settled down 0.34% at $1,243.00 on the Comex division of the New York Mercantile Exchange, off session highs of $1,251.85.

    Gold touched its highest since February 28 on Thursday, at $1,253.15 and ended the week with a gain of 1.07%.

    Prices of the precious metal turned lower as the dollar steadied after Republican leaders dropped legislation to replace the Affordable Care Act before a planned vote in the House of Representatives, after it failed to gather enough support to pass.

    Investors viewed the Trump administration's failure to push through a healthcare overhaul as a sign he may also face further setbacks delivering on other policy pledges including corporate tax cuts, regulatory reform and infrastructure spending.

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was little changed at 99.59 in late trade. The index dipped to 99.36 earlier in the session, an almost four month low.

    A strong U.S. dollar usually weighs on gold, as it dampens the metal's appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies.

    Elsewhere in precious metals trading, silver was at $17.78 a troy ounce late Friday, and ended the week up 2.11%.

    Platinum was up 0.26% to $966.35, while palladium added 1.12% to $809.12 an ounce.

    Copper was at $2.64 a pound and ended the week down 1.42%.

    In the week ahead, investors will be continuing to monitor political developments in the U.S., as Trump’s promised tax reforms come into focus.

    Expectations that the Trump administration would spur growth and inflation through fiscal stimulus pushed the dollar to 14-year highs in the weeks after the election.

    But the greenback has weakened in recent week as it became apparent that the White House would have difficulty in delivering on its legislative agenda.

    Market watchers will also be watching U.S. economic reports, including figures on personal income and spending and appearances by a number of Fed officials.

    Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.

    Monday, March 27

    The Ifo Institute is to report on German business climate.

    Federal Reserve Bank of Chicago President Charles Evans and Dallas Fed President Robert Kaplan are both to speak.

    Tuesday, March 28

    The U.S. is to release data on consumer confidence.

    Bank of Canada Governor Stephen Poloz is to speak.

    Dallas Fed President Robert Kaplan is to speak.

    Wednesday, March 29

    The UK is to publish data on net lending.

    Chicago Fed President Charles Evans is to speak.

    The U.S. is to release a report on pending homes sales.

    Thursday, March 30

    In the euro zone, Germany and Spain are to release preliminary data on inflation.

    Canada is to publish figures on raw material price inflation.

    The U.S. is to release revised data on fourth quarter growth along with the weekly report on initial jobless claims.

    Friday, March 31

    Japan is to publish data on household spending and inflation.

    New Zealand is to report on business confidence.

    China is to release its official manufacturing and services PMI’s.

    Germany is to release figures on retail sales and unemployment change. Meanwhile, the euro zone is to publish preliminary data on inflation.

    The UK is to report on the current account and release revised data on fourth quarter growth.

    The U.S. is to round up the week with data on personal income and spending, a report on manufacturing activity in the Chicago region and revised data on consumer sentiment.

    Read More
  • Crude Oil Futures - Weekly Outlook: March 27 - 31

    March 26, 2017, 08:35

    Investing.com - Oil futures settled higher on Friday, but posted a weekly loss of around 2% as the market weighed rising shale production and record-high stockpiles in the U.S. against efforts by major producers to cut output to reduce a global glut.

    The U.S. West Texas Intermediate crude May contract inched up 27 cents, or around 0.6%, to $47.97 a barrel by close of trade Friday, snapping a four-session losing streak. It touched $47.01 on Wednesday, a level not seen since November 30.

    For the week, the U.S. benchmark declined 81 cents, or around 1.7%, the third weekly loss in a month.

    Elsewhere, on the ICE Futures Exchange in London, Brent oil for May delivery tacked on 24 cents to settle at $50.80 a barrel by close of trade. The global benchmark hit $49.71 on Wednesday, its cheapest since November 30.

    London-traded Brent futures logged a drop of 96 cents, or about 1.9%, on the week.

    Data from oilfield services provider Baker Hughes on Friday revealed that the number of active U.S. rigs drilling for oil rose by 21 last week, the tenth weekly increase in a row. That brought the total count to 652, the most since September 2015.

    Meanwhile, the U.S. Energy Information Administration said on Wednesday that crude oil inventories rose by 5.0 million barrels last week to an all-time high of 533.1 million, feeding concerns about a global glut.

    Oil has fallen sharply this month amid concern that the ongoing rebound in U.S. shale production could derail efforts by other major producers to rebalance global oil supply and demand.

    OPEC agreed in November last year to curb its output by about 1.2 million barrels per day between January and June. Russia and 10 other non-OPEC producers have agreed to jointly cut by an additional 600,000 barrels per day.

    In total, they agreed to reduce output by 1.8 million barrels per day to 32.5 million for the first six months of the year, but so far the move has had little impact on inventory levels.

    OPEC's latest monthly report showed global oil stocks in January rose to 278 million barrels above the five-year average.

    OPEC members increasingly favor extending the output curb beyond June to balance the market, sources within the group said, although they added that this would require non-OPEC members such as Russia to also step up their efforts.

    Kuwait is scheduled to host a ministerial meeting on Sunday comprising representatives from Algeria, Venezuela, and non-OPEC nations Russia and Oman to review compliance with the output agreement and to discuss whether cuts would be extended beyond June.

    Elsewhere on Nymex, gasoline futures for April inched up 1.5 cents, or about 1% to $1.604 on Friday. It ended up around 0.4% for the week.

    April heating oil added 0.7 cents to finish at $1.497 a gallon. For the week, the fuel lost roughly 0.2%.

    Natural gas futures for April delivery rose 2.5 cents to $3.076 per million British thermal units. It posted a weekly gain of around 4.6%.

    In the week ahead, market participants will eye fresh weekly information on U.S. stockpiles of crude and refined products on Tuesday and Wednesday to gauge the strength of demand in the world’s largest oil consumer.

    Meanwhile, traders will pay close attention to comments from a meeting Sunday of major crude producers in Kuwait for further signals of compliance and whwther the deal will be extended into the second half of the year.

    Iraqi Oil Minister Jabar Ali al-Luaibi said on Saturday the market is a decisive factor in deciding whether to extend into the second half of this year a global agreement on reducing oil output.

    Russian Energy Minister Alexander Novak told reporters on Saturday that it is still too early to decide whether prolonging the deal is warranted, and that the situation would be clearer in April-May.

    Algerian Energy Minister Nouredine Bouterfa told reporters an extension could benefit the market.

    Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.

    Tuesday, March 28

    The American Petroleum Institute, an industry group, is to publish its weekly report on U.S. oil supplies.

    Wednesday, March 29

    The U.S. Energy Information Administration is to release weekly data on oil and gasoline stockpiles.

    Thursday, March 30

    The U.S. government is to produce a weekly report on natural gas supplies in storage.

    Friday, March 31

    Baker Hughes will release weekly data on the U.S. oil rig count.

    Read More
  • Peru stocks higher at close of trade; S&P Lima General up 0.13%

    March 24, 2017, 09:25

    Investing.com – Peru stocks were higher after the close on Friday, as gains in the Non-Metal Minerals, Food&Beverages and Industrials sectors led shares higher.

    At the close in Lima, the S&P Lima General gained 0.13%.

    The best performers of the session on the S&P Lima General were Grana Y Monter (LM:GRA), which rose 6.58% or 0.100 points to trade at 1.620 at the close. Meanwhile, Relapasa (LM:REL) added 4.76% or 0.010 points to end at 0.220 and Milpo (LM:MIL) was up 4.11% or 0.150 points to 3.800 in late trade.

    The worst performers of the session were Candente Copper (LM:DNT), which fell 18.18% or 0.0120 points to trade at 0.0540 at the close. Minsur (LM:MINi) declined 4.83% or 0.070 points to end at 1.380 and Trevali Mining (LM:TV) was down 2.17% or 0.020 points to 0.900.

    Rising stocks outnumbered declining ones on the Lima Stock Exchange by 14 to 10 and 9 ended unchanged.

    Shares in Candente Copper (LM:DNT) fell to 52-week lows; down 18.18% or 0.0120 to 0.0540. Shares in Milpo (LM:MIL) rose to 3-years highs; up 4.11% or 0.150 to 3.800.

    Crude oil for May delivery was up 0.84% or 0.40 to $48.10 a barrel. Elsewhere in commodities trading, Brent oil for delivery in May rose 0.85% or 0.43 to hit $50.99 a barrel, while the April Gold Futures contract fell 0.34% or 4.20 to trade at $1243.00 a troy ounce.

    USD/PEN was down 0.25% to 3.2400, while EUR/PEN rose 0.04% to 3.5061.

    The US Dollar Index Futures was up 0.03% at 99.59.

    Read More
  • U.S. equities close mixed after health care bill gets the boot

    March 24, 2017, 08:45

    Investing.com – U.S. stocks closed mixed on Friday, after the House of Representatives’ withdrew a health care bill to repeal and replace Obamacare, as chances of passing the bill appeared slim amid a lack of votes.

    The vote on the bill was scheduled for 15:30 EDT but the House went into recess as Republicans deliberated whether to proceed with a vote on the bill while House Speaker Paul Ryan visited the White House at midday to warn President Trump that he lacked the votes to pass the American Health Care Act (AHCA).

    House Speaker Ryan, in an update to reporters, following the withdrawal of the health care bill, mentioned that he spoke with President Trump and advised him to pull the bill as it would be “the best thing to do”.

    Over the past week, investors were focused on the potential impact a setback on the bill could have on Trump’s ability to push through more ‘market sensitive’ legislation such as tax reform.

    House Speaker Ryan, added to fears that the setback in health care reform could dampen the success of future legislation being passed, after he admitted that “it [the withdrawal of the health care bill] does make tax reform more difficult but it does not make it impossible”

    The Dow offered the biggest reaction to the news, as it moved sharply off the lows but eventually closed in negative territory.

    Meanwhile U.S. economic data heaped further pressure on equities, as The Commerce Department said Friday, orders for core durable goods, a category that excludes aircraft and military goods, rose 0.4% in February, which was less than economists’ forecast of a 0.5% rise.

    The Dow Jones Industrial Average slumped 59 points, or 0.29%, to close at 20,596. The S&P 500 gained 0.11% and the Nasdaq Composite closed at 5,828 up 0.19%.

    The top S&P 500 gainers included Micron Technology Inc (NASDAQ:MU) up 7.4%, and Centene Corporation (NYSE:CNC) up 5.2%, while Under Armour Inc C (NYSE:UA) added 4.1%.

    Martin Marietta Materials Inc (NYSE:MLM) down 2.9%, Fluor Corporation (NYSE:FLR) down 2.5% and Nucor Corporation (NYSE:NUE) slumped 2.4%, were among the worst S&P 500 performers of the session.

    Read More
  • Mexico stocks higher at close of trade; IPC up 0.84%

    March 24, 2017, 08:29

    Investing.com – Mexico stocks were higher after the close on Friday, as gains in the Financial Services, Industrials and Consumer Goods&Services sectors led shares higher.

    At the close in Mexico, the IPC added 0.84% to hit a new all time high.

    The best performers of the session on the IPC were Grupo Aeroportuario Del Sureste (MX:ASURB), which rose 5.23% or 16.54 points to trade at 333.00 at the close. Meanwhile, Grupo Financiero Santander Mexico (MX:SANMEXB) added 3.70% or 1.180 points to end at 33.080 and Alfa, S.A.B. De C.V. (MX:ALFAA) was up 3.16% or 0.860 points to 28.110 in late trade.

    The worst performers of the session were Genomma Lab Internacional SAB De CV (MX:LABB), which fell 1.86% or 0.440 points to trade at 23.220 at the close. Gentera SAB de CV (MX:GENTERA) declined 1.32% or 0.400 points to end at 29.990 and Coca-Cola Femsa, S.A.B. De C.V. (MX:KOFL) was down 0.62% or 0.86 points to 137.54.

    Falling stocks outnumbered advancing ones on the Mexico Stock Exchange by 141 to 122 and 10 ended unchanged.

    Shares in Grupo Aeroportuario Del Sureste (MX:ASURB) rose to all time highs; rising 5.23% or 16.54 to 333.00.

    Gold Futures for April delivery was down 0.18% or 2.25 to $1244.95 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May rose 0.96% or 0.46 to hit $48.16 a barrel, while the May Brent oil contract rose 0.93% or 0.47 to trade at $51.03 a barrel.

    USD/MXN was down 0.89% to 18.7621, while EUR/MXN fell 0.66% to 20.2775.

    The US Dollar Index Futures was down 0.05% at 99.51.

    Read More
  • Brazil stocks higher at close of trade; Bovespa up 0.51%

    March 24, 2017, 08:30

    Investing.com – Brazil stocks were higher after the close on Friday, as gains in the Public Utilities, Electric Power and Financials sectors led shares higher.

    At the close in Sao Paulo, the Bovespa gained 0.51%.

    The best performers of the session on the Bovespa were Lojas Renner SA (SA:LREN3), which rose 4.20% or 1.10 points to trade at 27.30 at the close. Meanwhile, CEMIG - Companhia Energetica Minas Gerais Pref (SA:CMIG4) added 3.87% or 0.38 points to end at 10.21 and Equatorial Energia SA (SA:EQTL3) was up 3.24% or 1.80 points to 57.40 in late trade.

    The worst performers of the session were Metalurgica Gerdau SA (SA:GOAU4), which fell 4.01% or 0.21 points to trade at 5.03 at the close. Usinas Siderurgicas de Minas Gerais (SA:USIM5) declined 2.88% or 0.12 points to end at 4.05 and Gerdau SA Pref (SA:GGBR4) was down 2.62% or 0.30 points to 11.15.

    Rising stocks outnumbered declining ones on the Sao Paulo Stock Exchange by 183 to 177 and 27 ended unchanged.

    The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was down 3.05% to 34.59.

    Gold Futures for April delivery was down 0.18% or 2.25 to $1244.95 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May rose 0.96% or 0.46 to hit $48.16 a barrel, while the May US coffee C contract fell 2.07% or 2.91 to trade at $137.57 .

    USD/BRL was down 0.96% to 3.1103, while EUR/BRL fell 0.64% to 3.3605.

    The US Dollar Index Futures was down 0.05% at 99.51.

    Read More
  • U.S. stocks mixed at close of trade; Dow Jones Industrial Average down 0.29%

    March 24, 2017, 08:25

    Investing.com – U.S. stocks were mixed after the close on Friday, as gains in the Utilities, Telecoms and Technology sectors led shares higher while losses in the Basic Materials, Oil&Gas and Industrials sectors led shares lower.

    At the close in NYSE, the Dow Jones Industrial Average lost 0.29% to hit a new 1-month low, while the S&P 500 index lost 0.08%, and the NASDAQ Composite index climbed 0.19%.

    The best performers of the session on the Dow Jones Industrial Average were Nike Inc (NYSE:NKE), which rose 1.79% or 0.99 points to trade at 56.36 at the close. Meanwhile, American Express Company (NYSE:AXP) added 0.46% or 0.36 points to end at 78.20 and Visa Inc (NYSE:V) was up 0.37% or 0.33 points to 89.19 in late trade.

    The worst performers of the session were Goldman Sachs Group Inc (NYSE:GS), which fell 1.50% or 3.49 points to trade at 228.41 at the close. E I du Pont de Nemours&Co (NYSE:DD) declined 1.19% or 0.96 points to end at 79.60 and Pfizer Inc (NYSE:PFE) was down 0.85% or 0.29 points to 34.00.

    The top performers on the S&P 500 were Frontier Communications Corporation (NASDAQ:FTR) which rose 7.73% to 2.09, Micron Technology Inc (NASDAQ:MU) which was up 7.40% to settle at 28.43 and Centene Corporation (NYSE:CNC) which gained 5.24% to close at 68.73.

    The worst performers were Martin Marietta Materials Inc (NYSE:MLM) which was down 2.93% to 207.24 in late trade, Fluor Corporation (NYSE:FLR) which lost 2.52% to settle at 51.44 and Nucor Corporation (NYSE:NUE) which was down 2.45% to 59.76 at the close.

    The top performers on the NASDAQ Composite were HTG Molecular Diagnostics Inc (NASDAQ:HTGM) which rose 145.55% to 9.650, Staffing 360 Solutions Inc (NASDAQ:STAF) which was up 48.98% to settle at 0.730 and Zais Group Holdings Inc (NASDAQ:ZAIS) which gained 29.20% to close at 2.920.

    The worst performers were Xenon Pharmaceuticals Inc (NASDAQ:XENE) which was down 52.79% to 4.65 in late trade, Argos Therapeutics Inc (NASDAQ:ARGS) which lost 32.66% to settle at 0.49 and Medigus Ltd (NASDAQ:MDGS) which was down 24.04% to 3.350 at the close.

    Rising stocks outnumbered declining ones on the New York Stock Exchange by 1658 to 1548 and 47 ended unchanged; on the Nasdaq Stock Exchange, 1376 rose and 1110 declined, while 111 ended unchanged.

    Shares in Micron Technology Inc (NASDAQ:MU) rose to 52-week highs; up 7.40% or 1.96 to 28.43. Shares in HTG Molecular Diagnostics Inc (NASDAQ:HTGM) rose to 52-week highs; up 145.55% or 5.720 to 9.650. Shares in Xenon Pharmaceuticals Inc (NASDAQ:XENE) fell to all time lows; losing 52.79% or 5.20 to 4.65. Shares in Argos Therapeutics Inc (NASDAQ:ARGS) fell to all time lows; falling 32.66% or 0.24 to 0.49.

    The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 0.61% to 13.04.

    Gold Futures for April delivery was down 0.09% or 1.15 to $1246.05 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May rose 0.86% or 0.41 to hit $48.11 a barrel, while the May Brent oil contract rose 0.81% or 0.41 to trade at $50.97 a barrel.

    EUR/USD was up 0.18% to 1.0802, while USD/JPY rose 0.19% to 111.14.

    The US Dollar Index Futures was down 0.04% at 99.52.

    Read More
  • Portugal stocks higher at close of trade; PSI 20 up 0.44%

    March 24, 2017, 05:45

    Investing.com – Portugal stocks were higher after the close on Friday, as gains in the Industrials, Consumer Services and Basic Materials sectors led shares higher.

    At the close in Lisbon, the PSI 20 rose 0.44%.

    The best performers of the session on the PSI 20 were CTT Correios de Portugal SA (LS:CTT), which rose 5.24% or 0.2550 points to trade at 5.1200 at the close. Meanwhile, Mota Engil (LS:MOTA) added 2.05% or 0.0350 points to end at 1.7450 and Sonae (LS:YSO) was up 1.83% or 0.0160 points to 0.8880 in late trade.

    The worst performers of the session were Ibersol SGPS (LS:IBS), which fell 1.51% or 0.220 points to trade at 14.380 at the close. Galp Energia Nom (LS:GALP) declined 1.04% or 0.1400 points to end at 13.3800 and Corticeira Amorim (LS:CORA) was down 0.83% or 0.083 points to 9.882.

    Rising stocks outnumbered declining ones on the Lisbon Stock Exchange by 18 to 14 and 8 ended unchanged.

    Brent oil for May delivery was up 0.14% or 0.07 to $50.63 a barrel. Elsewhere in commodities trading, Crude oil for delivery in May rose 0.31% or 0.15 to hit $47.85 a barrel, while the April Gold Futures contract rose 0.04% or 0.55 to trade at $1247.75 a troy ounce.

    EUR/USD was up 0.20% to 1.0805, while EUR/GBP rose 0.41% to 0.8647.

    The US Dollar Index Futures was down 0.10% at 99.46.

    Read More
  • Dollar trickles lower; as key vote to replace Obamacare draws closer

    March 24, 2017, 05:40

    Investing.com - The dollar fell against a basket of major currencies on Friday, as weaker than expected economic data weighed on sentiment while investors worried about the outcome of a Key House vote to repeal and replace parts of Obamacare scheduled for 15:30 EDT.

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, dipped 0.05% to 99.52 by 13:27 EDT.

    Events on Capitol Hill, continued to dominate market moves, as investors feared that a negative outcome concerning a key House vote could dampen the markets' belief in President Trump’s ability to push through more pro-growth legislation such as tax reform.

    Meanwhile, a weaker than expected core durable goods print for February, heaped further pressure on the greenback.

    The Commerce Department said on Friday, orders for core durable goods, a category that excludes aircraft and military goods, rose 0.4% in February, which was less than economists’ forecast of a 0.5% rise.

    Elsewhere, the dollar recovered against the yen, after falling to a four-month low 110.78, as USD/JPY traded roughly flat at 110.91.

    Meanwhile, GBP/USD slipped to $1.2498, down 0.18%, while the EUR/USD gained 0.23% to $1.0808, after a strong batch of manufacturing data from both France and Germany.

    Both French and German Manufacturing PMI prints for March beat analysts’ expectations.

    The sell-off in the greenback was not prevalent in the USD/CAD pair, as ‘loonie’ gained 0.16% to $1.3373.

    Read More

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  • - Melissa Sekibo, 35

    location_on Cape Town, South Africa
    format_quote I started trading without any experience. At first it was difficult, but with the help of my 70Trades account manager, I was able to learn very quickly. Trading currencies has never been so easy.
    first 70 trades
    $ Best Profit
    $ Total Profit
  • - Jessica Williams , 43

    location_on Perth, Australia
    format_quote My investment coach advised me to not get discouraged when I first started. It took me a while to gain some experience. But I’m glad that I stayed with trading.
    first 70 trades
    $ Best Profit
    $ Total Profit
  • - Rajeev Ganesh, 35

    location_on Bangalore, India
    format_quote It’s great to see your progress every month. The more I learn, the more confidence and knowledge I get. There is nothing better than becoming a successful trader. You just need to give it a bit of time.
    first 70 trades
    $ Best Profit
    $ Total Profit
  • - Carlos Santos, 36

    location_on Rio de Janeiro, Brazil
    format_quote With the 70Trades mobile app I can trade anywhere I want. You can trade oil, gold and even currencies. That’s how easy trading can be.
    first 70 trades
    $ Best Profit
    $ Total Profit
  • - Gan Chaiprasit, 46

    location_on Hat Yai, Thailand
    format_quote I was surprised how much I was able to earn right away with online trading. I kept most of my profits in my trading account, which helped me increase my profits over time. After 70 trades, the results were very impressive.
    first 70 trades
    $ Best Profit
    $ Total Profit
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