Dollar strengthening accelerated
US stocks extended gains on Thursday despite mixed reports about opposition in Washington to a new agreement with Beijing to cancel mutual tariffs in stages. The S&P 500 gained 0.3% to 3085.18. The Dow Jones industrial average rose 0.7% to 27674.80. Nasdaq composite index added 0.3% to 8434.52. The dollar strengthening accelerated as data showed initial jobless claims were below forecast. 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, rose 0.2% to 98.13 but is lower currently. Futures on US stock indices point to mixed openings.
DAX 30 leads European indexes gains
European stock market advanced fifth straight session on Thursday on progress in US-China trade talks despite European Central Bank’s downgrade of euro-zone’ economic growth estimate for the second half of 2019. Both EUR/USD and GBP/USD accelerated their declines with both pairs lower currently. The Stoxx Europe 600 index ended 0.4% higher led by mining and auto shares. Germany’s DAX 30 rallied 0.8% to 13289.46. France’s CAC 40 gained 0.4% and UK’s FTSE 100 added 0.1% to 7406.41.
Hang Seng leads Asian indexes losses
Asian stock indices are mostly retreating today after reports bilateral rollback of tariffs agreed upon as part of a “phase one” US-China trade deal faced “fierce internal opposition” within the White House. Nikkei rose 0.3% to 23391.87 despite resuming yen climb against dollar. Chinese stocks are falling despite a report China’s exports fell less than feared in October: the Shanghai Composite Index is down 0.5% and Hong Kong’s Hang Seng Index is 0.7% lower. Australia’s All Ordinaries Index slipped another 0.04% despite resumed Australian dollar decline 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 ended higher yesterday after news China and the US agreed to cancel tariffs after a phase one trade deal: January Brent crude rose 0.9% to $62.29 a barrel on Thursday.
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.