All three US main indices snap 5-session streak

Discussion in 'Fundamental Analysis' started by IFC Markets, Jan 14, 2019.

  1. IFC Markets

    IFC Markets Master Trader

    Dollar strengthening decelerates on slower inflation

    US stock market ended marginally lower on Friday. S&P 500 slipped 0.01% to 2596.23, closing 2.5% higher for the week. Dow Jones industrial average slid 0.02% to 23995.95. The Nasdaq lost 0.2% to 6971.48. The dollar strengthening slowed as data indicated inflation slowed to 1.9% in December from 2.2% in November: 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 0.1% to 95.67 but is lower currently. Stock index futures point to lower openings today.


    DAX 30 loss smaller than other European indices

    European stocks finished marginally higher on Friday. The EUR/USD continued falling while GBP/USD turned higher on reports of a likely Brexit delay with euro higher currently as Pound slips. The Stoxx Europe 600 Index inched up 0.1%, ending the week 1.7% higher. The DAX 30 lost 0.3% to 10887.46 led by auto-makers shares after reports Ford plans job custs and plant closures in Europe. France’s CAC 40 fell 0.5% and UK’s FTSE 100 slid 0.4% to 6918.18.

    Hang Seng leads Asian indices losses

    Asian stock indices are lower today as China reported weak trade data. Stock market in Japan is closed for a holiday while yen resumed its climb against the dolla . Chinese stocks are falling as Beijing reported slower exports: the Shanghai Composite Index is down 0.7% and Hong Kong’s Hang Seng Index is 1.6% lower. Australia’s All Ordinaries Index inched 0.02% lower despite the Australian dollar turn lower against the greenback.

    Brent rally snaps

    Brent futures prices are extending losses today. Prices ended lower on Friday: Brent for March settlement slid 2.0% to close at $60.48 a barrel Friday, rising 6% for the week.

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