Subscribe to RSS

Market Overview :  US dollar weaker ahead of FOMC meeting

US stocks fell on Monday as steep declines in Chinese stocks undermined investor confidence. S&P 500 closed 0.6% lower at 2,067.64, with nine of its 10 main sectors finishing in the red zone, led by a 1.35% fall in the energy index. The dollar weakened, with ICE US dollar index, a measure of dollar’s strength against a basket of six currencies, down 0.75%. The market reaction to better-than-expected US durable goods report was muted. June durable-goods orders rose 3.4%, exceeding expectations, but business investments and shipments remained soft. Investors will be watching closely for the outcome of the Federal Reserve two-day policy meeting, which starts today, for an update on US economy performance and cues on timing of the interest rate hike. As US companies report second quarter earnings, analysts have scaled back expectations of losses in earnings and revenues, and expect earnings of S&P 500 companies to decline 0.3% and revenues to fall 3.9%. This could further prop up stock valuations. The S&P 500 is currently trading near 16.9 times forward 12-month earnings, above the 10-year median of 14.7 times. Today at 14:00 CET May Case-Shiller Composite Index will be published. The tentative outlook is positive. At 14:45 Markit preliminary Services and composite PMIs for July will be published, the outlook is neutral. And at 15:00 CET Richmond Fed preliminary Manufacturing Index and Conference Board Consumer Confidence Index for July will be released. The tentative outlook is negative.

European stocks retreated on Monday after Chinese markets slumped. The euro strengthened to two-week high, boosted by strong German economic data and haven demand. The Stoxx Europe 600 fell 2.2%, Germany’s DAX 30 and France’s CAC 40 lost 2.6% each. Sectors which rely heavily on export to China such as autos, basic resources, energy and industrial goods sectors, fell between 1.3 and 2.8 percent. Today at 09:30 CET second quarter preliminary GDP will be released in UK. The tentative outlook is positive. No important economic data are expected today in euro-zone. Tomorrow at 7:00 CET July Gfk German Consumer Confidence index will be published. The tentative outlook is neutral.

Nikkei closed 0.1% lower today as yen strengthened on safe haven demand and investors worried about the negative impact of the weaker Chinese economy on demand for Japanese exports. Tomorrow at 00:50 CET June retail trade will be released in Japan. The tentative outlook is negative.

Chinese stocks were lower today after plunging more than 8% on Monday, the biggest fall in eight years. The People's Bank of China said today it would inject 50 billion yuan ($8.05 billion) in its biggest liquidity boost since July 7, near the trough of the last market sell-off. The central bank said also it will use various monetary tools to support liquidity further, in line with analyst’s expectations of more monetary easing.

Oil prices continue sliding today after closing at lowest level since mid-March on Monday on concerns about lower demand from China. Investors were concerned also about exacerbating oversupply after data released Friday from Baker Hughes oil-service company showed the number of oil-drilling rigs in the US increased by 21 in the latest week, the largest gain since February 2014.

Copper is edging up today after it slid to the lowest level in six years on Monday as the selloff in Chinese equities spurred concerns demand from metal’s biggest consumer will fall.

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