Dollar strengthening intact
US stock market rebounded on Monday as positive earnings reports buoyed investors optimism undermined by worries about the impact of coronavirus infection in China. The S&P 500 gained 0.7% to new record 3352.09. Dow Jones industrial added 0.6% to 29276.82. The Nasdaq rose 1.1% to fresh record 9628.39. The dollar strengthening continued at steady pace as Federal Reserve Governor Michelle Bowman said she was “comfortable with the current stance of our policy.” 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 0.2% to 98.85 and is higher currently. Fed Chair Powell is testifying today on the semiannual Monetary Policy Report before the House Financial Services Committee. Futures on stock indexes point to higher openings today.
FTSE 100 still top loser among European stock indexes
European stocks ended marginally higher on Monday despite weak data. The GBP/USD reversed its sliding yesterday while EUR/USD continued declining with both pairs dynamics unchanged currently. The Stoxx Europe 600 index added 0.1% despite both the Sentix investor confidence index for euro-zone and Italy’s industrial production coming lower than expected. The DAX 30 however slipped 0.15% to 13494.03. France’s CAC 40 slid 0.23% while UK’s FTSE 100 lost 0.3% to 7446.88.
Hang Seng leads Asian indexes rebound
Asian stock indices are rebounding today with Nikkei closed for holiday while yen slide against the dollar continuing. Markets in China are rising despite reports of more than 100 dead in a single day: the Shanghai Composite Index is up 0.4 % and Hong Kong’s Hang Seng Index is 1.4% higher. Australia’s All Ordinaries Index recovered 0.6% despite accelerating Australian dollar climb against the greenback.
Brent edges up
Brent futures prices are recovering today. Prices ended sharply lower yesterday on supply glut concerns as it remained unclear if the Organization of the Petroleum Exporting Countries and its allies, including Russia, will move to further cut production beyond an existing agreement on output curbs: April Brent crude closed 2.2% lower at $53.27 a barrel on Monday, the lowest settlement since December 28, 2018.
Gold slides as Dollar strengthening continues
Gold prices are pulling back today. April gold rose $6.1 ending at $1579.50 an ounce on Monday.
US stock market rebounded on Monday as positive earnings reports buoyed investors optimism undermined by worries about the impact of coronavirus infection in China. The S&P 500 gained 0.7% to new record 3352.09. Dow Jones industrial added 0.6% to 29276.82. The Nasdaq rose 1.1% to fresh record 9628.39. The dollar strengthening continued at steady pace as Federal Reserve Governor Michelle Bowman said she was “comfortable with the current stance of our policy.” 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 0.2% to 98.85 and is higher currently. Fed Chair Powell is testifying today on the semiannual Monetary Policy Report before the House Financial Services Committee. Futures on stock indexes point to higher openings today.
FTSE 100 still top loser among European stock indexes
European stocks ended marginally higher on Monday despite weak data. The GBP/USD reversed its sliding yesterday while EUR/USD continued declining with both pairs dynamics unchanged currently. The Stoxx Europe 600 index added 0.1% despite both the Sentix investor confidence index for euro-zone and Italy’s industrial production coming lower than expected. The DAX 30 however slipped 0.15% to 13494.03. France’s CAC 40 slid 0.23% while UK’s FTSE 100 lost 0.3% to 7446.88.
Hang Seng leads Asian indexes rebound
Asian stock indices are rebounding today with Nikkei closed for holiday while yen slide against the dollar continuing. Markets in China are rising despite reports of more than 100 dead in a single day: the Shanghai Composite Index is up 0.4 % and Hong Kong’s Hang Seng Index is 1.4% higher. Australia’s All Ordinaries Index recovered 0.6% despite accelerating Australian dollar climb against the greenback.
Brent edges up
Brent futures prices are recovering today. Prices ended sharply lower yesterday on supply glut concerns as it remained unclear if the Organization of the Petroleum Exporting Countries and its allies, including Russia, will move to further cut production beyond an existing agreement on output curbs: April Brent crude closed 2.2% lower at $53.27 a barrel on Monday, the lowest settlement since December 28, 2018.
Gold slides as Dollar strengthening continues
Gold prices are pulling back today. April gold rose $6.1 ending at $1579.50 an ounce on Monday.