News US may lower China tariffs buoys markets

Dmitry Lukashov IFC Markets

Dollar strengthening stalls

US stock market rose third straight session on Thursday on reports Washington was considering easing tariffs on Chinese imports to facilitate trade talks. The S&P 500 rose 0.8% to 2635.96. The Dow Jones industrial average gained 0.7% to 24370.10. Nasdaq composite index added 0.7% to 7084.46. The dollar strengthening halted despite a report the Federal Reserve Bank of Philadelphia’s manufacturing index rebounded in January: the live dollar indexdata show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, inched lower to 96.06 but is higher currently. Stock index futures indicate higher openings today.

FTSE 100 leads European Index losses

European stocks ended marginally higher on Thursday despite disappointing bank earnings reports. The EUR/USD continued its slide while GBP/USD extended gains with both reversing directions currently. The Stoxx Europe 600 index gained 0.04%. Germany’s DAX 30 however slipped 0.1% to 10918.62. France’s CAC 40 slid 0.3% and UK’sFTSE 100 fared the worst ending 0.4% lower at 6834.92 as Prime Minister Theresa May starts cross-party discussions to arrive at an acceptable compromise to the rejected Brexit deal.

Chinese stocks lead Asian indices gains

Asian stock indices resumed advancing today on US-China trade talk progress hopes. Nikkei rose 1.3% to 20666.07 with yen slide against the dollar intact. Chinese indices are higher as Beijing announced China’s top trade official, Vice Premier Liu He, will travel to the US for January 30-31 talks. The Shanghai Composite Index is up 1.4% and Hong Kong’s Hang Seng Index is 1.2% higher. Australia’s All Ordinaries Index extended gains 0.5% despite continued Australian dollar climb against the greenback.

Brent rises

Brent futures prices are advancing today. Prices retreated yesterday: Brent for March settlement closed 0.2% lower to $61.18 a barrel on Thursday.

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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 holds lower ground near 1.1850 ahead of EU/ US data

EUR/USD remains in the negative territory for the fourth successive session, trading around 1.1850 in European trading on Friday. A broadly cautious market environment paired with modest US Dollar demand undermines the pair ahead of the Eurozone GDP second estimate and the critical US CPI data.

GBP/USD keeps losses around 1.3600, awaits US CPI for fresh impetus

GBP/USD holds moderate losses at around 1.3600 in the European session on Friday, though it lacks bearish conviction. The US Dollar remains supported amid softer risk tone and ahead of the US consumer inflation figures due later in the NA session on Friday.

Gold trims intraday gains to $5,000 as US inflation data loom

Gold retreats from the vicinity of the $5,000 psychological mark, though sticks to its modest intraday gains heading into the European session. Traders now look forward to the release of the US consumer inflation figures for more cues about the Fed policy path. The outlook will play a key role in influencing the near-term US Dollar price dynamics and provide some meaningful impetus to the non-yielding bullion.

US CPI data set to show modest inflation cooling as markets price in a more hawkish Fed

The US Bureau of Labor Statistics will publish January’s Consumer Price Index data on Friday, delayed by the brief and partial United States government shutdown. The report is expected to show that inflationary pressures eased modestly but also remained above the Federal Reserve’s 2% target.

A tale of two labour markets: Headline strength masks underlying weakness

Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.

Solana Price Forecast: Mixed market sentiment caps recovery

Solana (SOL) is trading at $79 as of Friday, following a correction of over 9% so far this week. On-chain and derivatives data indicates mixed sentiment among traders, further limiting the chances of a price recovery.