Healthcare shares drag SP500

Dmitry Lukashov IFC Markets

Dollar falls despite narrower trade deficit

US stock market paused on Wednesday weighed by healthcare stocks under pressure in debates for the Democratic nomination for president. The S&P 500 lost 0.2% to 2900.45. The Dow Jones industrial average slipped 0.01% to 26449.54. Nasdaq composite index slid 0.05% to 7976.08. The dollar weakening resumed despite report the US trade deficit fell 3.4% in February to the lowest level in eight months. 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 0.1% to 97.01 and is lower currently. Futures on US stock indexes point to lower openings today.

CAC 40 outperforms European indexes

European stocks extended gains on Wednesday buoyed by better than expected Chinese data. The EUR/USD turned higher while GBP/USD continued its slide with euro lower currently and Pound little changed. The Stoxx Europe 600 gained 0.1% led by auto shares. Germany’s DAX 30 rose 0.4% to 12153.07 despite country’s economic growth downgrade for 2019, France’s CAC 40 advanced 0.6% while UK’s FTSE 100 added 0.02% to 7471.32.

Australia’s All Ordinaries Index gains while Asian indices fall

Asian stock indices are mostly down today as North Korea test-fired a new tactical guided weapon. Nikkei lost 0.8% to 22090.12 as yen resumed climb against the dollar. China’s stocks are lower despite a report US and China may sign the trade deal in late May: the Shanghai Composite Index is down 0.4% and Hong Kong’s Hang Seng Index is 0.6% lower. Australia’s All Ordinaries Index turned 0.05% higher with Australian dollar little changed against the greenback.

Brent slides despite US crude inventories drop

Brent futures prices are retreating today. Prices fell yesterday despite report US gasoline stocks fell by 1.4 million barrels while crude stockpiles declined by 1.2 million last week. June Brent crude lost 0.1% to $71.62 a barrel on Wednesday.

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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.

EUR/USD clings to daily gains, still below 1.1900

EUR/USD manages to reverse two daily pullbacks in a row and advances modestly on Thursday, hovering around the 1.1880 zone amid the inconclusive price action around the US Dollar. Meanwhile, weekly Initial Claims rose more than expected last week, while attention is expected to shift to the upcoming US CPI data on Friday.

GBP/USD picks up pace, hits 1.3640

GBP/USD trades with modest gains around 1.3640 so far on Thursday. Indeed, Cable looks to leave behind the weakness seen in the first half of the week in a context of an equally erratic performance in the Greenback and disappoting UK data releases.

Gold stays offered below $5,100

Gold keeps the choppy trade well in place on Thursday, navigating the area below the $5,100 mark per troy ounce amid the lack of clear direction in the Greenback, declining US Treasury yields across the curve and caution ahead of Friday’s publication of US CPI.