Dollar strengthening intact
US stock market extended gains on Friday despite mixed data. The S&P 500 rose 0.4% to 3329.62, more than doubling its weekly gain to 2.0%. Dow Jones industrial added 0.2% to 29348. The Nasdaq gained 0.3% to 9388.94. The dollar strengthening accelerated as housing starts rose 16.9% in December while industrial production fell 0.3%. 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 0.3% to 97.61 and is higher currently. Futures in stock indexes point to lower openings today.
European stock indexes rebounded
European stocks rebounded on Friday after EU Trade Commissioner said he had a good exchange of views with US Trade Representative in Washington. GBP/USD joined EUR/USD’s continuing slide on Friday with euro turning higher currently and Pound lower still. The Stoxx Europe 600 Index recovered 1%. The DAX 30 gained 0.7% Friday to 13526.13. France’s CAC 40 rose 1% and UK’s FTSE 100 advanced 0.9% to 7674.56.
Shanghai Composite leads Asian Indexes gains
Asian stock indices are mostly higher today. Nikkei edged up 0.2% to 24083.51 despite resumed yen climb against the dollar ahead of Bank of Japan’s two-day policy meeting. China’s markets are mixed: the Shanghai Composite Index is 0.7% higher while Hong Kong’s Hang Seng Index is down 0.9%. Australia’s All Ordinaries Index extended gains 0.2% with Australian dollar climb against the greenback resuming.
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
Saudi Aramco slips while Brent gains
Brent futures prices are extending gains today. Prices rose on Friday: Brent for March settlement added 0.4% to $64.85 a barrel Friday. Saudi Aramco shares are down currently 0.2% to 34.30 riyals as they continue trading on country’s Tadawul exchange. After the company sold 450 million more shares to investors as part of overallotment option (following 3 billion shares sales at 32 Saudi riyals ($8.53) each at the IPO that netted $25.6 billion ), Saudi Aramco has sold 3.45 billion shares, raising the company’s public stake to 1.725% and raising its IPO earnings to $29.4 billion.
Gold prices are inching higher after closing lower last week. February gold slid 0.2% to 1550.50 on Friday.
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.