Subscribe to RSS

Forex Market Overview :  US dollar up as markets slide further

US stocks extended losses on Wednesday as weaker than expected earnings reports from technology giants weighed on market sentiment. The dollar traded higher after report the existing home sales grew more than expected. The ICE US dollar index was up 0.2%. S&P 500 ended 0.2% lower with five of its 10 sectors finishing with losses. The Nasdaq Composite fell 0.7%. Apple lost 4.2% as sales forecast for the current quarter missed expectations. Microsoft dropped 3.7% as it reported lower demand for Windows and $7.5 billion writedown on Nokia purchase. The disappointing results from Microsoft, IBM and Intel indicate lower IT spending by businesses. Boeing shares rose 1%, but shares of Yahoo Inc. dropped 1.2% as quarterly profit missed analysts’ expectations and it forecast lower-than-expected revenue for the current quarter. In economic news the Housing Price Index rose 0.4% in May after increasing 0.4% in April. Existing Home Sales for June increased 3.2% from May to an annualized rate of 5.49 million units, the fastest pace since February 2007. Today GM, McDonalds, Amazon.com, AT&T, Starbucks Corp and Visa Inc will be reporting quarterly earnings. At 13:30 CET Initial Jobless Claims and Continuing Claims will be released in US. The tentative outlook is positive. At 15:00 CET July advance Leading Index will be released by the Conference Board. The tentative outlook is negative.

European stocks fell for the second session as slumping commodity markets and disappointing corporate reports undermined investor confidence. The Stoxx Europe 600 fell 0.6%, led by more than 1.5% drops in technology and basic-materials sectors. Euro weakened 0.3% against the dollar. Apple suppliers Dialog Semiconductor and Infineon Technologies AG lost 5.2% and 6.3% respectively. Mining stocks Glencore PLC and Rio Tinto PLC fell 5.4% and 3.6% respectively. The Greek parliament today approved the second set of reform measures demanded by creditors after the austerity package was approved by majority of parliament’s special committee on Wednesday. As the last hurdle for starting the negotiations is removed Greece hopes to reach an agreement with international creditors by August 20, when it has to make 3.4 billion euro payment to the ECB. Today at 15:00 CET June Consumer Confidence index will be released in euro-zone. The tentative outlook is negative. At 09:30 CET June Retail Sales will be released in UK by the Office of National Statistics. The tentative outlook is positive.

Nikkei today rose 0.6% as yen weakened and investor optimism was buoyed by strong performance in retail and hospitality sectors, with the number of foreign visitors hitting record high in the first half of the year. In separate report the central bank said exports strengthened in June, rising 9.5% year over year, the fastest pace in 5 months, while imports fell 2.9%.

Oil prices are falling today after West Texas Intermediate crude for September delivery settled below $50 for first time since April on Wednesday as weekly report from the US government showed that inventories unexpectedly rose. The oversupply weighs on prices as US output remains high while OPEC increases production and growth in global demand is limited.

Gold is stabilizing today after falling for tenth session on Wednesday as it closed below $1100 an ounce. Goldman Sacks report predicted gold could fall under $1000 given capital flowing out of defensive havens, low inflation risk with commodity prices falling and speculation that the US and UK could start raising interest rates in coming months.

More Details

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

100% Withdrawable Bonus on your First Deposit – NordFX

100% Withdrawable Bonus on your First Deposit – NordFX(0)

Up to 150% Bonus for a First Time to binary options Account. For a perfect start, we offer you a 150% bonus for a first-time $5,000 deposit. Link:  Up to 150% Bonus for a First Time Link:  100% Withdrawable Deposit Bonus Link:  55% Deposit Bonus Promotion Link:  DemoCup contest  prize fund is $42000 Available to:

$10 Free Credited into your account – Champion FX

$10 Free Credited into your account – Champion FX(0)

$10 Free Welcome Credited Bonus into your account. Sign up for a ChampionFX Cent live trading account today and get a Free Welcome Forex Credited Bonus worth USD 10 Link:  $10 Free Credited Available to: New and Existing Traders. Ending Date: 31 December 2018 Bonus Offer: $10 Free Welcome Credited into your account to All

Monthly Live Forex Trading Competition – Tickmill Ltd.

Monthly Live Forex Trading Competition – Tickmill Ltd.(0)

Forex Monthly Live Trading Competition. Put your forex trading skills to test and win up to $1000 every Month! Forex Live Trading Competition is only available for clients of Tickmill Ltd.(FSA Regulated) Link:  Weekly Demo Race Trading Contest Link:  $30 Free Welcome Bonus Offer Link:  Forex Monthly Live Trading Contest Available to: All new traders

Get $1500 Forex No Deposit Welcome Bonus – InstaForex

Get $1500 Forex No Deposit Welcome Bonus – InstaForex(0)

Get $1500 No Deposit Forex Bonus from InstaForex no need to risk your own money if you have already got funds to earn more money. The $1500 No Deposit Free Bonus from InstaForex is an exciting opportunity to start Forex live trading. Link:  $500 Forex No Deposit Free Bonus Link:  $1000 Forex No Deposit Free

Up to 50% Welcome Bonus on Each Deposit – Fort Financial

Up to 50% Welcome Bonus on Each Deposit – Fort Financial(0)

Up to 50% Welcome Bonus of Every Deposit to All New and Existing Traders. You Deposited $1000 on your account, chose a 50% bonus and got 500 extra dollars to the initial deposit amount. Link: $888 Extra Bonus Amount Promotions Link:  $5 Forex No Deposit Welcome Bonus Link:  Up to 50% Bonus of Every Deposit

300 USD No Deposit Forex Welcome Bonus – CARRAX

300 USD No Deposit Forex Welcome Bonus – CARRAX(0)

300 USD No Deposit Forex Welcome Bonus for 30 calendar days for real trade in the forex market. Only Carrax verified users may participate in the 300 USD No Deposit Forex Welcome Bonus Promotion. Link:  300 USD Forex No Deposit Bonus Withdrawal: Only profits can be withdrawn after 30 days of having the account active.

FX Zone Currency Capital Forex Trading Contest – FXTM

FX Zone Currency Capital Forex Trading Contest – FXTM(0)

FX Zone Currency Capital Trading Contest final Bid Central. Sharpen your forex trading skills completely RISK-FREE as you enter ForexTime Broker simulated forex world of 2017 the FX Zone Currency Capital Contest. Link:  FX Zone Currency Capital Contest Link:  $25 Per Referral Earn up to $10000 Link:  Receive $30 Tradeable Credit Bonus Link:  Loyalty Cashback

$123 Free No Deposit Welcome Bonus – FBS Broker

$123 Free No Deposit Welcome Bonus – FBS Broker(0)

$123 Free No Deposit Forex Bonus of FBS Broker all new members to get a Free bonus of $123 without initial deposits and start a risk-free forex liveForex Trading. Link:  $123 Free Forex Bonus Promotion Link:  100% Deposit Bonus Promotion Link:  $88.8 Lucky No Deposit Bonus (for Malaysian traders) Available to: All new traders Ending

$50 Free No Deposit Bitcoin Bonus Special Promo – UFX

$50 Free No Deposit Bitcoin Bonus Special Promo – UFX(0)

$50 Forex No Deposit Bitcoin Bonus Special Promotion to all new trading account holder. Start Forex Trading Bitcoin with UFX and  Get a $50 No Deposit Bonus Link:  $50 Forex No Deposit Special Bonus Link:  $50 Free No Deposit Bitcoin Bonus Link:  100% Real Money CashBack Promo Link:  $5000 BitCoin Rewards Bonus Promo Available to:

Forex Special Promo FREE Forex Trading Signals – CMSTrader

Forex Special Promo FREE Forex Trading Signals – CMSTrader(0)

Forex Special Promotion for our new clients. Open account and get our FREE Forex Trading Signals with high success claim them Now 91% Success! Link:  Top Social Copy Trading Platforms Link:  FREE trading signals Special Promotion Ending Date:  31 December 2018 Available to:   New Clients only Bonus Offer: Get FREE forex trading signals Special promotion

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories