Markets mixed after a mixed start to week

The Dollar weakening has halted currently . 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, fell 0.8% Monday as durable goods orders slowed to 7.3% in June after 15.7% growth in May. Both GBP/USD and EUR/USD accelerated climbing Monday as German business sentiment continued recovery – the Ifo Institute’s business climate index rose to above-expected 90.5 from an upwardly revised 86.3 in June. Both pairs are lower currently. AUD/USD reversed its sliding while USD/JPY continued sliding yesterday with both Australian dollar and yen lower currently against the greenback.

Futures on three main US stock indexes are mixed currently ahead of the two-day meeting for the Federal Reserve that begins today. Companies continue reporting second quarter results today with Visa, Pfizer and AMD among them. As of the end of last week, 79% of SP 500 companies that had reported results beat lowered estimates. Stock indexes in US ended higher Monday: the three main US stock indexes posted gains ranging from 0.4% to 1.7% as lawmakers continued discussions of a new coronavirus rescue package. European stock indexes are mixed currently as travel stocks fell yesterday after British government imposed a two-week quarantine on anyone returning from Spain. Asian indexes are mixed today with shares higher in Hong Kong and Shanghai despite rising US-China tensions.

Brent is extending gains today. Oil prices ended higher on Monday: the US oil benchmark West Texas Intermediate (WTI) for September added 0.8% Monday and is up currently. September Brent crude edged up 0.2% to $43.41 a barrel on Monday.

Gold prices are pulling back today. August gold rallied 1.8% to $1931 an ounce on Monday.

By IFCMarkets.com