Cautious mood prevails ahead of Fed meeting
Top daily news
Stock index futures are mostly lower currently ahead of Fed’ two-day policy meeting starting today after Wall Street eked gains Monday. Amazon shares added 1.18% while the company denied that its job posting for a digital currency executive meant that it will accept the token for payments this year – causing bitcoin decline below $37,000 after briefly surpassing $40,000 , Tesla rose 2.2% as its quarterly profit soared to record $1.1 Billion.
Forex news
| Currency Pair | Change |
| EUR USD | -0.19% |
| GBP USD | -0.29% |
| USD JPY | -0.33% |
| AUD USD | -0.98% |
The Dollar strengthening has resumed currently. 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, lost 0.2% on Monday as new homes sales fell to lowest level since pandemic due to high costs and low supply.
Both GBP/USD and EUR/USD reversed their sliding Monday despite Ifo Institute’s monthly survey showing German business sentiment fell unexpectedly in July, Both are lower currently. USD/JPY reversed its advancing Monday while AUD/USD reversed its retreating with Australian dollar lower against the Greenback currently and yen higher.
Stock market news
| Indices | Change |
| Dow Jones Index | -0.5% |
| Nikkei Index | +0.77% |
| Hang Seng Index | -4.8% |
| Australian Stock Index | +0.43% |
Futures on three main US stock indexes are down currently ahead of the Conference Board consumer confidence data at 16:00 CET today while US 10-year Treasury yields inched up to 1.281% currently. All three major Wall Street stock benchmarks ended marginally higher at record closing highs for a second straight session yesterday: the three main stock benchmarks recorded gains in the range of 0.03% to 0.24% Monday. Alphabet, Apple and Microsoft are due to publish quarterly results later today.
European stock indexes are mixed currently after ending marginally lower Monday with healthcare shares leading losses. Asian indexes are mostly lower today with Hong Kong’s Heng Seng Index leading losses as investor confidence is undermined by concerns over Chinese regulatory crackdowns.
Commodity market news
| Commodities | Change |
| Brent Crude Oil | +0.74% |
| WTI Crude | +0.96% |
Brent is rebounding currently ahead of data from the American Petroleum Institute later today. Prices closed mixed Monday as coronavirus cases kept rising over the weekend, with reports from India also pointing to only muted oil demand. US West Texas Intermediate WTI slid 0.2% but is higher currently. Brent added 0.5% to $74.50 a barrel on Monday.
Gold market news
| Metals | Change |
| Gold | -0.1% |
Gold prices are edging lower currently. August gold slipped 0.1% to $1799.20 an ounce on Monday, the lowest finish in nearly three weeks.
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Author
Dmitry Lukashov
IFC Markets
Dimtry Lukashov is the senior analyst of IFC Markets. He started his professional career in the financial market as a trader interested in stocks and obligations.
