Forex: The euro extended gains against the U.S. dollar on Tuesday, supported by the release of upbeat economic reports from the euro zone, although investors remained cautious ahead of the European Central Bank's upcoming policy meeting on Thursday.
EUR/USD hit 1.0633 during U.S. morning trade, the pair's highest since Friday; the pair subsequently consolidated at 1.0632, advancing 0.62%.
The pair was likely to find support at 1.0556, Monday's low and a seven-month low and resistance at 1.0690, the high of November 25.
The single currency was boosted after Eurostat reported on Tuesday that the euro zone’s unemployment rate fell to 10.7% in October from 10.8% a month earlier. This is the lowest rate recorded in the euro area since January 2012.
Stocks: U.S. stocks opened higher on Tuesday, tracking Asian gains on tentative signs that a slowdown in China was stabilizing.
The Dow Jones industrial average (DJI) rose 38.52 points, or 0.22 percent, to 17,758.44, the S&P 500 (SPX) gained 6.12 points, or 0.29 percent, to 2,086.53 and the Nasdaq composite (IXIC) added 21.09 points, or 0.41 percent, to 5,129.76.
Forex: The U.S. dollar was almost unchanged against its Canadian counterpart on Tuesday, after data showed that the Canadian economy contracted unexpectedly in September, but it expanded over the third quarter
USD/CAD hit 1.3390 during early U.S. trade, the session high; the pair subsequently consolidated at 1.3365.
The pair was likely to find support at 1.3286, Friday's low and resistance at 1.3437, the high of November 23 and a one-month high.
Stocks: Amazon.com Inc said sales of its electronic gadgets more than tripled over the Thanksgiving weekend from last year, with the Fire tablet the top-selling product.
Sales of the 7-inch tablet more than tripled, while the Fire TV set-top box sold six times more than last year, the company said, without providing the number of units sold.
Amazon's shares were up 1 percent at $671 in early trading on Tuesday.
Economic Indicators: Manufacturing activity in the U.S. contracted at the fastest pace since July 2009 in November, dampening optimism over the strength of the economy and fanning hopes the Federal Reserve could delay raising interest rates until next year, industry data showed on Tuesday.
In a report, the Institute for Supply Management said its index of purchasing managers fell to 48.6 last month from a reading of 50.1 in October. Analysts had expected the manufacturing PMI to inch up to 50.5 in November.
Ask us about our FREE financial advice program:
Other Top Stories:
Technical Analysis Lesson 1 - Introduction
How I Made Over $30,000 a Year by Investing in Binary Options
Follow us and SHARE this story on Facebook: