By IFCMarkets
Dollar weakens on mixed housing data
US stock indexes rebounded on Friday as longer term bond yields held above short term debt yields, easing recession fears. The S&P 500 rose 1.4% to 2888.68, falling 1.0% for the week. Dow Jones industrial gained 1.2% to 25886.01. The Nasdaq rallied 1.7% to 7895.99. The dollar strengthening halted as US housing starts fell 4% on month in July while building permits rose 8.4%. 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 98.16 but is higher currently. Stock index futures point to higher market openings today
DAX leads European indexes movement
European stocks recovered on Friday led by pharmaceutical and bank shares. GBP/USD accelerated its climb while EUR/USD slowed declining on Friday with both pairs reversing their directions currently. The Stoxx Europe 600 Index rose 1.1% Friday. The DAX 30 rallied 1.3% to 11562.74. France’s CAC 40 rose 1.2% and UK’s FTSE 100 gained 0.7% to 7117.15.
Shanghai Composite leads Asian indexes gains
Asian stock indices are rising today as traders closely watch developments in US-Chin trade dispute after president Trump said Sunday he was ‘not ready’ for China trade deal. Nikkei extended gains 0.7% to 20563.16 as yen slowed its slide against the dollar. China’s markets are sharply higher after the central bank announced it is altering the way it sets a key interest rate benchmark to reduce borrowing costs for companies: the Shanghai Composite Index is up 2.1% while Hong Kong’s Hang Seng Index is 2% higher. Australia’s All Ordinaries Index extended gains 1% despite the Australian dollar accelerating its climb against the greenback.
Brent up
Brent futures prices are extending gains today after a weekend attack on a Saudi oil facility by Yemenis. Prices rose on Friday: Brent for October settlement ended 0.7% higher at $58.64 a barrel Friday.
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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
