By IFCMarkets
Dollar strengthens as jobless claims fall
US stock market extended losses on Thursday as global growth slowing concerns came to fore again following ECB pledge to keep rates low longer. The S&P 500 lost 0.8% to 2748.93. The Dow Jones industrial average slid 0.8% to 25473.23. Nasdaq composite index fell 1.1% to 7421.46. The dollar strengthening accelerated as initial jobless claims fell more than forecast 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 0.8% to 97.61 but is lower currently. Futures on US stock indexes point to lower openings today.
European Indexes fall as ECB says low rates will stay longer
European stocks extended losses on Thursday as European Central Bank cut euro-zone growth forecasts for 2019. GBP/USD joined EUR/USD’s tumble as the ECB pushed out the prospect of a first hike in interest rate further from previously announced summer of 2019 as the bank left interest rates unchanged. The Stoxx Europe 600 index fell 0.4% led by bank shares. Germany’s DAX 30 dropped 0.6% to 11517.80. France’s CAC 40 slid 0.4% and UK’s FTSE 100 lost 0.5% to 7157.55.
Shanghai Composite leads Asian indices losses
Asian stock indices are falling today after disappointing Chinese trade data. Nikkei fell 2% to 21025.56 with yen climb against the dollar accelerating. China’s stocks fell sharply as data showed exports fell 20.7% in February: the Shanghai Composite Index dropped 4.4% and Hong Kong’s Hang Seng Index is 2% lower. Australia’s All Ordinaries Index turned 1% lower despite persistent Australian dollar slide against the greenback.
Brent slips
Brent futures prices are falling today while OPEC cuts provide support. Prices rose yesterday on reports OPEC output fell to its lowest in nearly four years in February: Brent for May settlement closed 0.5% higher at $66.30 a barrel on Thursday.
Market Analysis provided by IFCMarkets
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Note:
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.
