Dollar weakens as inflation slows

US stock market rebound accelerated on Thursday as Powel reasserted Federal Reserve’s inclination to ease monetary policy against the background of lingering risks to global growth such as US-China trade dispute. The S&P 500 gained 0.2% to fresh record 2999.91. The Dow Jones industrial average rose 0.9% to new record 27088.08. Nasdaq composite index however slipped 0.1% to 8196.04. The dollar weakening continued as consumer price inflation fell to 1.6% from 1.8% in April: 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, slipped 0.03% to 97.07 and is lower currently. Stock index futures point to higher market openings today

European indexes slip as IMF calls for fresh stimulus

European stocks slide continued on Thursday after the International Monetary Fund called for fresh stimulus from the ECB. EUR/USD inched down while GBP/USD continued its slide with both pairs higher currently. The Stoxx Europe 600 index ended 0.1% lower. Germany’s DAX 30 lost 0.3% to 12332.12. France’s CAC 40 slipped 0.3% and UK’s FTSE 100 slid 0.3% to 7501.82.

Shanghai Composite leads Asian indexes

Asian stock indices are mostly rising today. Nikkei rose 0.2% to 21685.90 despite yen's resumed climb against the dollar. Chinese shares are gaining despite President Trump’s tweet on Thursday China was not living up to promises it made on buying US agricultural products: the Shanghai Composite Index is up 0.4% and Hong Kong’s Hang Seng Index is 0.2% higher. Australia’s All Ordinaries Index however slid 0.3% as Australian dollar accelerated its climb against the greenback.



Brent up as Tropical Storm Barry advances

Brent futures prices are edging higher today with half US Gulf Coast oil output shut down because of Tropical Storm Barry. Prices fell yesterday: September Brent crude lost 0.7% to $66.52 a barrel on Thursday.



Want to get more free analytics? Open Demo Account now to get daily news and analytical materials.

This overview has an informative character and is not financial advice or a recommendation. IFCMarkets. Corp. under any circumstances is not liable for any action taken by someone else after reading this article.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD remains depressed but off daily lows

The EUR/USD pair is recovering from a daily low of 1.1216, although holding in negative territory for the day. US preliminary Michigan Consumer Sentiment Index improved by less-than-anticipated in July, coming in at 98.4 vs. the 98.5 expected.


GBP/USD trading marginally lower daily basis but above 1.2500

The Pound gave back some of its Thursday’s gain on dollar’s relief. The GBP/USD pair broke a daily descendant trend line coming from June’s high and holds above it, leaving little room for sellers to act.


USD/JPY: bears pausing, still in control

Japanese National Inflation steady at 0.7%YoY in June. US Michigan Consumer Sentiment Index expected at 98.5 in July. USD/JPY corrective advance falling short of signaling an interim bottom in place.


Something has spooked the Fed

We wish we knew what it is. Wild talk of the US joining Japan and Europe with zero or negative return on the 10-year is or should be very frightening.

Read more

Gold consolidates around $ 1440, eyes US data for fresh direction

Gold (futures on Comex) extends its side-trend around the 1440 mark into the mid-European session, having stalled its retreat from 2019 highs of 1454 near 1437 region.

Gold News