Global Markets mostly lower, investors turn for safe assets.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. USD slides to 7-months low
The dollar fell to 7-month lows against a other major currencies on Tuesday, as investors grew more cautious amid fears over looming geopolitical risks.
Reduced expectations for aggressive U.S. rate hikes from the Federal Reserve in the second half of the year further weighed on the greenback.
The dollar index, which tracks the greenback against a basket of six major rivals, was down 0.1% at 96.69 in New York morning trade. It fell to an overnight low of 96.49, a level not seen since November 9.
2. Global stocks colored red
Global stock markets were mostly lower on Tuesday, as investors avoided riskier assets ahead of potentially market-moving events later this week, including former FBI Director James Comey's testimony to a Senate committee, the U.K.’s general election and a European Central Bank meeting.
Asian shares ended mostly in negative territory, with Japan's Nikkei closing down around 1%, while China's Shanghai Composite tacked on about 0.3%.
In Europe, stocks across the continent fell to a one-week low, with Germany's DAX sliding 0.5% in mid-morning trade, while London's FTSE 100 slumped 0.3%.
On Wall Street, the blue-chip Dow futures pointed to a decline of 24 points, or around 0.1% at the open, the S&P 500 futures ticked down 4 points, while the tech-heavy Nasdaq 100 futures shed 5 points.
3. Oil slips, Gold rallies
Oil prices continued to move lower on concerns that a diplomatic rift between Qatar and several Arab states including Saudi Arabia could undermine efforts by OPEC to tighten the market.
U.S. crude was at $47.28 a barrel, down 13 cents, or around 0.3%, while Brent shed 12 cents to $49.35.
Meanwhile, Investor sentiment remained focused toward safe-haven assets such as the Japanese yen, gold and Treasures ahead of key risk events slated for later this week.
4. Bitcoin tops $2,800 record
Bitcoin cleared the $2,800-level for the first time on Tuesday to hit yet another all-time high, as a monster rally continues amid bullish noises around the future of the cryptocurrency.
Since the start of the year, the price of bitcoin has soared roughly 195%, taking the total value of the cryptocurrency in circulation to around $46 billion.
Bullishness around bitcoin has stoked appetite for other cryptocurrencies. One in particular known as Ethereum is gaining traction.
Ethereum has risen from $8.24 on January 1, to a high of $259.15 on Tuesday. This represents a whopping 2,840% increase year-to-date.
