By IFCMarkets
Dollar rises as consumer confidence improves
US stock market ended lower on Tuesday as trading resumed after markets reopened following Memorial Day holiday. The S&P 500 lost 0.8% to 2802.39. Dow Jones industrial fell 0.9% to 25347.77. The Nasdaq slid 0.4% to 7607.35. The dollar strengthening continued as Conference Board’s consumer confidence index rose to above expected 134.1 from 129.2 in April. 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 0.2% to 97.925 but is lower currently. Futures on US stock indices point to lower openings today.
FTSE100 records smallest loss among European indexes
European stocks pulled back on Tuesday led by Italian stocks on renewed concern about country’s refusal to curb budget deficit as Brussels demands. Both the EUR/USD and GBP/USD resumed their slide and are lower currently. The Stoxx Europe 600 ended 0.2% lower led by banking shares. The German DAX 30 slid 0.4% to 12027.05 as German GfK consumer sentiment index fell to its lowest level in two years. France’s CAC 40 lost 0.4%. UK’s FTSE 100 slipped 0.1% to 7268.95 after reopening.
Nikkei leads Asian indexes pullback
Asian stock indices are mostly lower today. Nikkei fell 1.2% to 21003.37 as yen resumed its climb against the dollar. Chinese stocks are mixed after President Donald Trump’s Monday comment that the country was “not ready” for a trade deal with China: the Shanghai Composite Index is up 0.4% while Hong Kong’s Hang Seng index is 0.4% lower. Australia’s All Ordinaries Index gave back all of previous session gains declining 0.7% with Australian dollar flat against the greenback.
Brent down
Brent futures prices are edging lower today. Prices of July Brent ended unchanged at $70.11 a barrel on Tuesday.
Market Analysis provided by IFCMarkets
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