Dollar weakened after Fed minutes

US stocks ended two-day skid on Wednesday as President Trump said there's 'really good chance' of China trade deal. The SP 500 gained 0.9% to 2919.40. The Dow Jones industrial average advanced 0.7% to 26346.01. Nasdaq rose 1% to 7903.74. The dollar strengthening halted after September meeting Fed minutes showed several Fed officials argued that the chances of a US recession “had increased notably in recent 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 less than 0.1% to 99.11 and is lower currently. Stock index futures point to lower openings today.

DJI

 

DAX leads European indexes movements

European stocks resumed advances on Wednesday after reports China was willing to discuss a deal providing no more tariffs are imposed including duties scheduled this month and in December. GBP/USD continued sliding yesterday while EUR/USD turned higher with no change in dynamics for both pairs currently. The Stoxx Europe 600 added 0.4% led by auto shares. Germany’s DAX 30 rose 1% to 12094.26. France’s CAC 40 advanced 0.8% and UK’s FTSE 100 gained 0.3% to 7166.50.

 

Shanghai Composite leads Asian indexes gains

Asian stock indices are rising today after reports Trump administration was considering putting off tariff hikes scheduled to go into effect next week and may soon issue licenses to some US companies to do business again with China’s Huawei Technologies. Nikkei rose 0.5% to 21551.98 despite yen resumed climb against the dollar. Chinese stocks are advancing: the Shanghai Composite Index is up 0.8% and Hong Kong’s Hang Seng Index is 0.1% higher. Australia’s All Ordinaries Index losses extended gains 0.01% despite Australian dollar resumed climb against the greenback.

 

Brent falls after build in US crude inventories

Brent futures prices are lower today. Prices gained yesterday despite Energy Information Administration report US crude inventories rose a fourth week in a row by 2.9 million barrels, while gasoline inventories fell by 1.2 million barrels. December Brent crude added 0.1% to $58.32 a barrel on Wednesday.

 


 

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 consolidating as markets digest the new US-Sino trade truce

EUR/UDS is trading around 1.1030, little changed. Markets are digesting the US-Sino handshake deal that prevents new US tariffs that were planned for Tuesday. Euro-zone industrial output is due out.

EUR/USD News

GBP/USD slips below 1.26 as Brexit talks drag

GBP/USD has kicked off the new week with a drop below 1.26 as Brexit optimism fades. Intense weekend talks have failed to result in an accord. Negotiations continue ahead of the EU Summit. 

GBP/USD News

USD/JPY retreats from 2-1/2 month tops, still comfortable above 108.00 handle

A partial US-China trade deal on Friday weighed on the JPY’s safe-haven status. Traders now seemed inclined to book profit despite a pickup in the USD demand.

USD/JPY News

Forex Today: Markets skeptical about US-Sino trade truce and sterling suffers a hangover as talks continue

Markets are cautious regarding the US-Sino partial trade deal. The world's largest economy agreed on a "hand-shake" agreement which is yet to be written. It includes a Chinese commitment to buy agrifoods.

Read more

Gold climbs to session tops, inching closer to $1500 mark

Gold edged higher through the early European session and is currently placed at the top end of its daily trading range, around the $1495 region.

Gold News

Forex Majors

Cryptocurrencies

Signatures