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|18:00||USD||FOMC Meeting Minutes|
Asian markets were mostly higher at the close Tuesday as investor confidence remains high across the region. Japanese export shares did well as the Yen remains weak, but South Korea’s Kospi led gains in the region as investors returned to markets for the first time since September 29th.
European markets were modestly weaker, with investor caution rising ahead of a speech by Catalan President Carles Puigdemont. He was expected to announce independence for Catalonia, but instead called for talks with Madrid and a delay in the independence process. This should help stabilize markets today. London’s FTSE rose despite a stronger Pound as Credit Suisse upgraded the entire banking sector.
U.S. markets overcame early fatigue and rose in afternoon trade that saw all three major benchmark indices reaching new record closing levels. Investors seem to be looking forward to the upcoming third quarter earnings season, which begins in earnest today.
The cryptocurrency spiked higher over the weekend, only to give back nearly all the gains on Monday. However, Tuesday saw the coin marching higher once again as Ripple signed its 100th financial institution to its blockchain. The signs of increased growth in the Ripple blockchain could keep the coin moving higher as it has quietly added 50% over the past month.
Gold has gained for three sessions in a row, but now faces the resistance of the $1,300 level. There are doubts that it can get beyond this resistance as the only thing sending it higher over the past several sessions has been the weakness in the U.S. dollar. With interest rates almost certainly heading higher later this year, that USD weakness will evaporate and gold will suffer as a result.