Subscribe to RSS

Market Overview :  US dollar weaker as equity markets extend losses

US stocks fell on Monday amid concerns Federal Reserve may raise interest rate at its September policy meeting. The dollar weakened, with the ICE US Dollar Index, a measure of the dollar’s strength against a basket of six currencies, losing 0.2%. The S&P 500 closed 0.8% lower at 1972.18, recording the sharpest monthly decline of 6.3% since May 2012. The Dow Jones Industrial Average lost 0.7%, ending August with a 6.6% loss, the biggest decline in one month since May 2010. Federal Reserve Vice Chairman Stanley Fischer on Saturday said US inflation would likely rebound as pressure from the dollar fades, allowing the Fed to raise interest rates gradually. Investors interpreted the comment at the global central banking conference in Jackson Hole, Wyoming as a sign that the Fed planned to raise interest rates in September. Recent market turmoil had led market participants to believe the Fed would delay interest rate hike till December. Morgan Stanley cut its 12-month outlook on the S&P 500 index for 2015 from 2275 by more than 3% to 2200, citing forecasts of lower growth and higher inflation, as well as expectations for six rate hikes by the Federal Reserve before the end of 2016. Trading volume was 7.8 billion shares on US exchanges, about 27% lower than the average in the past five sessions. Today at 14:45 CET August manufacturing PMI will be released by Markit. The outlook is neutral. AT 15:00 CET August construction spending and September ISM manufacturing index will be released. The tentative outlook is positive.

European stocks ended lower on Monday on concerns slowing China’s economy will weigh on global growth. Euro strengthened against the dollar, gaining 2.2% in August. The Stoxx Europe 600 fell 0.5%. The pan-European benchmark index ended the month 8.5% lower, recording the largest decline since August 2011 when the index fell nearly 10.5%. German DAX 30 fell 0.4%, tumbling 9.3% in August, suffering the biggest monthly loss since a near 20% plunge in August 2011. Today at 10:00 CET July unemployment rate will be released in euro-zone. The tentative outlook is neutral.

Nikkei ended 3.8% lower today while yen strengthened as investor confidence was undermined by official report China’s manufacturing sector contracted at its fastest pace in three years in August, pointing to the possibility of further slowdown in the world’s second-largest economy. Market sentiment was hurt also by report Japanese companies slowed capital expenditures in the second quarter.

Today Reserve Bank of Australia kept the interest rate unchanged at 2%. Tomorrow at 2:30 CET Q2 GDP data will be released in Australia. The tentative outlook is negative.

Oil futures prices are falling today on profit taking and concerns over possible slowing of Chinese demand after report showed China’s official manufacturing PMI fell to 49.7 in August from 50.0 in July. Oil prices closed almost 9% higher on Monday after the Energy Information Administration report estimated June US crude oil output declined 1.1% from a revised May figure, totaling 9.3 million barrels- a-day.

Gold is rising today after Asian equities retreated on concerns China’s economy is slowing sharply. Gold prices closed lower yesterday as the likelihood of Federal Reserve interest rate hike in September limited the attractiveness of the safe haven metal. Gold advanced about 3.4% in August, recording the largest gains since January’s 8% surge.

More Details

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

Free $30 Earn Trade-able Trading Credit Bonus – Forex Time

Free $30 Earn Trade-able Trading Credit Bonus – Forex Time(0)

Switch to ForexTime and Free $30 Earn Trade-able Trading Credit Bonus. Join the hundreds of thousands of traders around the world who have already chosen ForexTime as a broker and Free Earn $30 Trade-able Trading Credit Bonus as a thank you for switching. Link:  Receive $30 Tradeable Credit Bonus Link:  Loyalty Cashback Promotions Link:  FX

$100 Risk Free Money on your Live Account – FidelisCM

$100 Risk Free Money on your Live Account – FidelisCM(0)

Get $100 Free Risk Forex Money on your Live Account There is no better way to trust more. Sign up for $100  No Deposit Bonus from FidelisCM Live Account and start forex trading now. Link: $100 Free No Deposit Forex Bonus Link: 200% Margin Bonus on all Deposit Available to: New and Existing clients Ending

$14000 New Accounts Bonus on Initial Deposits – AvaTrade

$14000 New Accounts Bonus on Initial Deposits – AvaTrade(0)

Up to $14000 New Accounts Bonus on your Initial Deposits to all new trading account. Open a new live trading account and verify it Make a deposit of no less than $100 and request the New Accounts Bonus. Link:  100% Bonus to Your First Deposit Link:  30% Sign-up Bonus on your Deposit Link:  Up to

Up to 200% Withdrawable Cashback Bonus – Forex Time

Up to 200% Withdrawable Cashback Bonus – Forex Time(0)

Always aims for profitable promotions for FXTM Customer, this time they have come up with a 200% Cashback Rebate Bonus promo which enables traders to earn up to 10,000 USD withdraw able Cashback bonus. Link:  Receive $30 Tradeable Credit Bonus Link:  FX Circuits Live Trading Contest Link:  Demo Forex Trading Contest Link:  Loyalty Cashback Promotions

$2500 Forex No Deposit Free Startup Bonus – InstaForex

$2500 Forex No Deposit Free Startup Bonus – InstaForex(0)

$2500 Free No Deposit Forex Bonus to Start Risk Forex Trading on InstaForex.com‎. With $2500 Free Forex Bonus you will be able to estimate our unsurpassed quality of order execution in live trading conditions with no risk and personal investments. Link:  Up to $5000 No Deposit Free Bonus Link:  $500 Forex No Deposit Free Bonus

100% Special Bonus Offer on a Deposit – World Forex

100% Special Bonus Offer on a Deposit – World Forex(0)

Get a 100% Special Bonus Offer on a Deposit plus for replenishment account And a free VPS server for every account replenishment in the amount of 100 USD. Link:  $10 No Deposit Forex Special Bonus Link:  Deposit $5 Receive $20 Special Bonus Link:  100% Forex Special Deposit Bonus Available to: All new trading account Ending

50 USD Forex No Deposit Bitcoin Bonus offer – UFX

50 USD Forex No Deposit Bitcoin Bonus offer – UFX(0)

$50 Forex No Deposit Bonus on their real account. This initial $50 Forex No Deposit Bonus offer is intended to allow new users of the platform the opportunity to test the real trading account. Link:  $50 No Deposit Bonus Promotion Link:  $50 Free No Deposit Bitcoin Bonus Link:  100% Real Money CashBack Promotion Available to:

Deposit $5 Receive $20 Forex Special Bonus – WForex

Deposit $5 Receive $20 Forex Special Bonus – WForex(0)

$10 Forex No Deposit Free Bonus or Deposit $5 Receive $20 Special Bonus Forex to all World Forex New Clients only. Trade with World Forex Broker Get 20$ or 10$ on your choice Link:  $10 Forex No Deposit Free Bonus Link:  Deposit $5 Receive $20 Special Bonus Available to: All new trading account Ending Date:

25 USD Receive Forex Cash Bonus for Free – Xtrade

25 USD Receive Forex Cash Bonus for Free – Xtrade(0)

$25 Receive Forex Cash Bonus for Free No deposit required to all Xtrade New Clients only and 60% Forex Deposit Bonus on your first time deposit to all new live trading account Link:  Up to $5000 No Deposit Free Bonus Link:  $500 Forex No Deposit Free Bonus Link:  $1000 Forex No Deposit Free Bonus Link: 

50% Deposit Bonus for Every Deposit – Fort Financial

50% Deposit Bonus for Every Deposit – Fort Financial(0)

Up to 50% Deposit Bonus for Every Deposit. Open and fund an account at FortFS.com and receive an exclusive 50% bonus on top of your initial investment up to $1000. Link: Up to 50% Bonus of Every Deposit Link: $5 Forex No Deposit Welcome Bonus Link: 15% Support Margin Bonus Available to: New and Existing

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