FxAnalysis

Negative cash flow from operations, declining profit margins, and contracting earnings per share flash red flags. Is more downside ahead for MMM?

The Nasdaq 100 powered above the 25,000 level yesterday, a high of nearly 25,067.00 was seen. As of this morning’s writing via futures trading the Nasdaq 100 is around 24,870.00.

The New Zealand Dollar has lost ground since the surprisingly deep rate cut of 0.50% was announced by the RBNZ, while the US Dollar is gaining ground after appearing to bottom out.

EUR/USD staged a rebound in the American session on Monday but ended up closing the day in negative territory. The pair stays under bearish pressure in the European session on Tuesday and trades below 1.1700.

The EUR/USD pair trades with a soft tone on Tuesday, not far from its weekly low at 1.1651. The Euro (EUR) remains pressured by French political woes, after the recently appointed Prime Minister Sébastien Lecornu resigned shortly after announcing his cabinet.

The GBP/USD pair meets with a fresh supply and slides below mid-1.3400s, back closer to the overnight swing low during the early part of the European session on Tuesday.