It was an ugly start to the U.S. trading session on Wednesday. The Dow Jones dropped 379 points lower at the open and losses reached 510 points in the first minute of trading.
The Commodity Futures Trading Commission (CFTC) today launched a virtual currency resource Web page,
Investors’ focus will turn away from U.S. politics and towards economics as we head into the second half of this week.
Asian equity markets remained under pressure for a second consecutive day. Nervousness is still being felt through some asset classes after North Korea’s nuclear test on Sunday, with the flow of funds continuing into the yen and Swiss franc in particular.
The euro currency has significantly appreciated against the USD this year and the trend, to me, is showing no signs of reversing. I believe 1.22 is the next major target, which is about 3% above current exchange rates.
July has certainly been a painful trading month for the Greenback, with today’s second quarter economic growth figures from the US offering little support to the beleaguered currency.
Bitcoin is down from the all-time high but not really down significantly.
Comments on the tech sector and the Fed’s impact on the dollar.
After Nasdaq 100’s big drop on Friday, we are watching the broader S&P 500 index for any signs of weakness in U.S. equity markets at the start of this new trading week.