Dollar strengthens as import prices gain

US stock market paused on Thursday after reports suggesting US-China trade deal will not be finalized this month following news a meeting between President Donald Trump and Chinese President Xi Jinping will be delayed until at least April. The S&P 500 slipped 0.1% to 2808.48. The Dow Jones industrial average however added 0.03% to 25709.94. Nasdaq composite index fell 0.2% to 7630.91. The dollar strengthening resumed as the price of imported goods rose by 0.6% on month in February, the largest increase in nine months while initial jobless claims rose by 6000 last week: 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 0.3% to 96.715 but is lower currently. Futures on US stock indexes point to higher openings today.


European Indexes rise as UK parliament votes for Brexit delay

European stocks extended gains on Thursday as investors awaited UK vote on Brexit delay. Both GBP/USD andEUR/USD turned lower but are higher curently. The Stoxx Europe 600 index rose 0.8%. Germany’s DAX 30 added 0.1% to 11587.47. France’s CAC 40 gained 0.8% and UK’s FTSE 100 advanced 0.4% to 7185.43 as British parliament voted to request an extension of the March 29 Brexit deadline to June 30 if lawmakers can agree to a withdrawal deal by March 20.

Shanghai Composite leads Asian indices gains

Asian stock indices are mostly higher today. Nikkei added 0.8% to 21450.85 with yen slide against the dollar decelerating. China’s stocks rose as Premier Li Keqiang said regulators can use interest rates, other policy steps to stimulate the economy, and a new law against the forced transfer of technology by foreign companies legislators was approved on Friday, which has been a major complaint by foreign investors. The Shanghai Composite Indexrose 1% and Hong Kong’s Hang Seng Index is 0.9% higher. Australia’s All Ordinaries Index however pulled back 0.1% as Australian dollar turned higher against the greenback.

Brent higher

Brent futures prices are gaining today. Prices declined yesterday on reports OPEC output fell at a significantly reduced rate than the month prior and well-below the group’s pledge to the market: Brent for May settlement closed 0.5% lower at $67.23 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.

Feed news

Latest Forex Analysis

Editors’ Picks

EUR/USD: bearish strength pointing to lower lows for the year

The EUR/USD pair extended its decline Friday to finish the week sharply lower in the 1.1150 region. The American currency stood victorious on the back of persistent concerns about US-Sino trade tensions and encouraging local data.


GBP/USD: political tensions knocked the Pound ANALYSIS | 14:48 GMT

The GBP/USD pair closed the week in the 1.2710 area, its lowest since mid-January, as the Pound plunged alongside Brexit cross-party talks, a "very negative development," as Irish PM Varadkar said. 


USD/JPY: corrective advance could extend up to 110.50

After advancing for a second consecutive day, the USD/JPY pair closed the week with modest gains just above the 110.00 figure, retreating from a daily high of 110.19. 


Bitcoin price update: BTC reclaims $7,000, recovery stalled

Bitcoin (BTC) has recovered from a scary flash crash that took it all the way down from $7,800 to as low as $6,512. The first digital coin lost about 16% of its value in a matter of hour with no particular reason .

Read more

Gold breaks to the downside hits 2-week lows near $1275

Gold prices accelerated to the downside today and particularly after the beginning of the American session, resuming the bearish move. The yellow metal is falling for the fourth day in-a-row and it is down almost $30 from the weekly high. 

Gold News