Dollar weakening accelerated
US stock indexes losses widened on Monday as bond yields fell. The S&P 500 lost 1.2% to 2882.70 led by financials. Dow Jones industrial fell 1.5% to 25896.44. The Nasdaq composite dropped 1.2% to 7863.41. The pace of dollar weakening accelerated: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, fell 0.1% to 97.38 but is higher currently. Stock index futures point to lower market openings today
DAX 30 loss smallest among European indexes
European stocks retreat continued on Monday led by bank shares. GBP/USD joined EUR/USD’s climb yesterday with both pairs lower currently. The Stoxx Europe 600 index ended 0.3% lower. The DAX 30 slipped 0.1% to 11679.68. France’s CAC 40 slid 0.3% and UK’s FTSE 100 0.4% to 7226.72.
Hang Seng leads Asian indexes slump
Asian stock indices are tracking Wall Street losses overnight. Nikkei closed 1.1% lower at 20455.44 despite the reversal of yen slide against the dollar. Markets in China are falling as protests paralyzed Hong Kong airport while China’s central bank set the yuan’s midpoint at 7.0326 per dollar, weaker than 7 per US dollar for a fourth straight day Tuesday. The Shanghai Composite Index is down 0.6% and Hong Kong’s Hang Seng Index is 1.9% lower. Australia’s All Ordinaries Index pulled back 0.3% as Australian dollar turned higher against the greenback.
Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Brent futures prices are edging lower today. Prices rose yesterday: October Brent crude closed 0.2% higher at $58.65 a barrel on Monday.
Market Analysis provided by IFCMarkets
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.