dow jones

dow jones

UFX Daily Forex Currency Trading News 29-July-2015

8h ago
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https://go.ufx.com/ReDir.aspx?TLID=45354&UTM_Source=Youtube&UTM_Content=SiteReg&mktData=UFX_Channel US indices closed higher on Tuesday (28.07.15) as attention shifted from trouble in Chinese equities to U.S. corporate earnings and speculation the first Federal Reserve interest rate hike may not come until December. The Dow Jones rose by 1.09%, the S&P 500 by 1.24%, and the NASDAQ added 0.98% to its value. Twitter shares rose by 5.30% closing at $36.54 a share. The U.S. Dollar trimmed gains against most major currencies on Tuesday (28.07.15) after data showed that U.S. consumer confidence deteriorated this month, while markets awaited the conclusion of the Federal Reserve's policy meeting this week. Today, the Federal Funds Rate and FOMC Statement will be published. High volatility is expected. Gold finished almost unchanged, closing at $1,095 an ounce. Crude Oil fell, closing at $47.78 a barrel. The euro finished lower versus the U.S. Dollar as U.S. data deteriorated this month tempering expectations of higher interest rates. Technically, according to the Daily chart the pair is trading above the support line at 1.0963 with a positive RSI indicator above 50. Maintaining these conditions could take the EUR/USD towards 1.1300, while breaking below the line may start a reversal to around 1.0750. The Pound edged higher versus the U.S. Dollar after data showed that the U.K. economy grew in line with expectations in the second quarter, while sentiment on the greenback remained vulnerable ahead of the Federal Reserve's policy statement this week. Technically, according to the 8-hour chart, the pair is trading in a descending triangle pattern. Crossing the upper side of the triangle may lead the pair towards 1.5800. However, breaking below the lower side could take it to around 1.5300.