Dollar rises as home builder sentiment improves

US stock market resumed advancing on Tuesday with 60% of companies that have reported quarterly results so far beating the revenue forecasts. The S&P 500 rose 0.3% to 2907.06. Dow Jones industrial added 0.3% to 26452.66. The Nasdaq gained 0.3% to 8000.23. The dollar strengthening accelerated as home builder sentiment rose to a six-month high in April, while industrial production fell 0.1% in March. 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 0.1% to 97.06 but is lower currently. Futures on US stock indexes point to higher openings today.

DAX 30 outperforms on ZEW investor sentiment surprise

stocks added to gains on Tuesday on positive data and earnings reports. Both the EUR/USD andGBP/USD turned lower but are higher currently. The Stoxx Europe 600 gained 0.4%. The German DAX 30 rose 0.7% to 12101.32 as German ZEW investor sentiment index improved in April, France’s CAC 40 added 0.4%. UK’s FTSE 100 advanced 0.4% to 7469.92.


Asian indices mixed while China’s growth beat expectations

Asian stock indices are mostly higher today. Nikkei added 0.3% to 22277.97 with yen little changed against the dollar while Japan suffered first trade deficit in three years. Chinese stocks are mixed as China’s 6.4% growth rate for January-March beat analysts’ expectations: the Shanghai Composite Index is up 0.3% while Hong Kong’s Hang Seng index is 0.1% lower. Australia’s All Ordinaries Index turned 0.3% lower as Australian dollar accelerated its climb against the greenback.

Brent gains

Brent futures prices are edging higher today. The American Petroleum Institute late Tuesday report indicated US crude inventories fell by 3.1 million barrels last week while gasoline inventories dropped by 3.6 million. Prices ended higher yesterday. June Brent rose 0.8% to $71.72 a barrel on Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.


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.

Feed news

Latest Forex Analysis

Editors’ Picks

EUR/USD consolidates losses as Fed moderates message

EUR/USD is trading above 1.1350, consolidating losses. The Fed's Bullard and Chair Powell have conveyed a balanced message, boosting the greenback. Treasury Secretary Mnuchin said 90% of the deal with China is done.


GBP/USD trades below 1.2700

GBP/USD is trading below 1.2700. BOE Gov. Carney said the BOE may cut rates in case of a no-deal Brexit. Boris Johnson has rattled markets by saying leaving the EU by October 31st is "do or die."


USD/JPY sticks to gains near 107.70, looks to snap 7-day losing streak

Following the sharp upsurge witnessed during the European trading hours, the USD/JPY pair has gone into a consolidation phase and is now moving in a relatively tight range in the upper half of its daily trading range.


EIA: Crude inventories decreased by 12.8 million barrels, WTI inches closer to $60

In its weekly petroleum report for the week ending June 21, the Energy Information Administration (EIA) announced that the commercial crude oil inventories in the United States decreased by 12.8 million barrels from the previous week. 

Read more

Gold finds some support near $1400 mark, lacks follow-through

Gold held on to its weaker tone through the early North-American session, albeit pared a part of its intraday slide to the $1400 neighbourhood post-US economic data.

Gold News