Subscribe to RSS

Forex Market Overview:  US dollar weaker on Fed official’s remark

US stocks rallied on Monday after a comment by Federal Reserve Vice Chairman Stanley Fischer that he doesn’t expect the interest rate hike will happen until after inflation climbs closer to the Fed’s target of around 2%. The inflation rate has fallen close to zero in recent months and has been below 2% since April 2012. The dollar weakened, ICE US dollar index, a measure of the dollar’s strength against a basket of six currencies, fell 0.4%. Markets didn’t react to Atlanta Fed President Dennis Lockhart remark later in the day who said the economy is strong enough to handle a gradual rise in interest rates. S&P 500 jumped 1.3%, with all of 10 sectors except utilities closing higher. Precision Castparts' shares jumped 19.1% after Berkshire Hathaway said it would buy the aerospace and engineering company in a deal valuing the company at $32.3 billion. Google gained 4.8% after market close as the company announced it is changing its operating structure by setting up a new company called Alphabet Inc, which will include the search business and a number of other units. Twitter shares surged 9.1% after CEO Jack Dorsey bought more shares joining other insiders, and the company also reached a multiyear partnership agreement with the National Football League. Today at 13:30 CET second quarter unit labor cost will be released in US. The tentative outlook is negative for the dollar. At 15:00 CET second quarter wholesale inventories will be released. The tentative outlook is positive.

Greece today reached a deal with the European Commission, the European Central Bank, the International Monetary Fund and the European Stability Mechanism on a bailout loan that would release as much as 86 billion euros. European stocks advanced on Monday as investor sentiment was buoyed by rising mining shares as dollar weakened and optimism over Greek bailout negotiations. The euro strengthened. The Stoxx Europe 600 finished up 0.7%. Mining shares rebounded after Friday’s fall following weak Chinese data indicating exports in July fell 8.3% from a year earlier and imports dropped 8.1%. Today at 10:00 CET July ZEW survey results for Germany and euro-zone will come out. The tentative outlook is positive for euro.

Nikkei fell 0.4% today as investors took profits on recent outperformers including drugmakers and food companies after the Chinese central bank devalued the yuan. Tomorrow at 00:50 CET Bank of Japan July 14-15 meeting minutes will be released. At 06:30 CET June industrial production and tertiary industry activity index will be published. The tentative outlook is positive.

The People’s Bank of China devalued yuan today 1.9% against the dollar. The central bank manages the exchange rate through an official midpoint, allowing it to move 2% above or below that midpoint each day, which is called the daily fixing. Today the regulator said it will now base the midpoint on market makers' quotes and the previous day's closing price.

Oil prices are falling today after jumping almost 4% on Monday as investors are concerned slowing Chinese economy, evidenced by more than 8% fall in July exports, will slow the demand growth for crude oil while output from major producers is near record highs.

Copper is falling today after rebounding from a six-year low on Monday after rains in Chile halted work at Codelco, world’s largest copper-mining company.

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

50% Bonus of Every Deposit – Fort Financial Services

50% Bonus of Every Deposit – Fort Financial Services(0)

Up to 50% 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: Up to 50% Bonus of Every Deposit Link: $5 Forex No Deposit Welcome Bonus Link: 15% Support Margin Bonus Link:  Profit

$1500 Startup Forex No Deposit Free Bonus – InstaForex

$1500 Startup Forex No Deposit Free Bonus – InstaForex(0)

$1500 Startup No Deposit Free Bonus to all new InstaForex Customers. The new Startup No Deposit Forex Bonus from InstaForex is an exciting opportunity to start Forex live trading. Link:  $1500 Startup No Deposit Bonus Link:  $100 Forex No Deposit Bonus 2018 Link:  Get 250% Bonus for First Deposit Link:  100% Special Deposit Bonus Campaign

FX Zones Demo Trading Forex Contest – Forex Time

FX Zones Demo Trading Forex Contest – Forex Time(0)

FX Zones Demo Trading Forex Contest Z3 Bid Central. Sharpen your forex trading skills completely RISK-FREE as you enter ForexTime (FXTM) Broker simulated forex world of 2017 the FX Zones. Link:  FX Zones Demo Trading Contest Link:  $25 Per Referral Earn up to $10000 Link:  Receive $30 Tradeable Credit Bonus Link:  Loyalty Cashback Promotions Link: 

$123 Welcome Forex No Deposit Free Bonus – FBS

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

$123 Welcome Forex No Deposit Bonus for an ultimate start on the Forex market. $123 Free No Deposit Bonus funds are available for forex trading within 7 calendar days after the account opening. Link:  $123 Free Special Bonus Promotion Link:  100% Deposit Bonus Promotion Link:  $88.8 Lucky No Deposit Required Bonus (for Malaysian traders) Available

Monthly Live Trading Contest win up to $1000 – Tickmill

Monthly Live Trading Contest win up to $1000 – Tickmill(0)

Forex Monthly Live Trading Contest. Put your forex trading skills to test and win up to $1000 every Month! Forex Live Trading Contest 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

Up to 200% Withdrawable Cashback Rebates – ForexTime

Up to 200% Withdrawable Cashback Rebates – ForexTime(0)

Forget Loyalty Points, ForexTime Rewards Loyalty in Up to 200% Withdrawable Cashback Rebates Bonus and get $4 Cashback back for every lot you trade. Link:  Receive $30 Tradeable Credit Bonus Link:  FX Circuits Live Trading Contest Link:  Demo Forex Trading Contest Link:  Loyalty Cashback Promotions Link:  200% Withdraw able Cashback Rebates Ending Date: 31 December

Get $50 Free Bonus Start Forex Trading Bitcoin – UFX

Get $50 Free Bonus Start Forex Trading Bitcoin – UFX(0)

Get a $50 Free Bonus Start Forex Trading Bitcoin with UFX. Forex Trading Bitcoin with UFX is simple and gives you the opportunity to increase your return whether BTC prices RISE or FALL Link:  $50 No Deposit Bonus Promotion Link:  $50 Free No Deposit Bitcoin Bonus Link:  Halloween Trick or Trade Competition Link:  100% Real

Up to $1000 Forex Deposit Bonus Promotion – FortFS

Up to $1000 Forex Deposit Bonus Promotion – FortFS(0)

Up to 50% Forex Bonus of Every Deposit to All New and Existing Traders. You Deposited $1000 on your account, chose a 50% forex bonus and got 500 extra dollars to the initial deposit amount. Link: Up to 50% Bonus of Every Deposit Link: $5 Forex No Deposit Welcome Bonus Link: 15% Support Margin Bonus

FX Circuits Live Forex Trading Contest – Forex Time

FX Circuits Live Forex Trading Contest – Forex Time(0)

ForexTime latest Live Contest Win cash prizes from a $400,000 total prize pool. FX Circuits rewarding clients with real, withdrawable from a $400000 total prize pool.* Link:  FX Circuits Live Trading Contest Link:  Demo Forex Trading Contest Link:  Loyalty Cashback Promotions Link:  200% Withdraw able Cashback Rebates Available to:   New Clients only Contest Offer: ForexTime

20% Unlimited Bonus on Your First Deposit – FidelisCM

20% Unlimited Bonus on Your First Deposit – FidelisCM(0)

20% Unlimited Bonus On Your First Deposit to All new traders. If you have a $30 Deposit Account with FidelisCM then add wings to your ambitions and receive a 20% Tradable Bonus Link:  20% Bonus On Your First Deposit Available to: All new traders Ending Date: 30 June 2017 Bonus Offer: Get 20% Unlimited Bonus

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