IFC Markets

Master Trader
Oct 31, 2012
1,938
10
84
London (Great Britain)
www.ifcmarkets.com
Dollar strengthening resumes

US stock market was closed for Martin Luther King day on Monday. Stock futures pulled back yesterday as slower Chinese growth report spurred global growth concerns. The S&P 500 futures fell 0.6% to 2656.50. Dow Jones industrial futures slid 0.6% to 24538. The Nasdaq composite index fell 0.7% to 6743. The dollar weakened: 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 0.04% to 96.31 but is higher currently. Markets will reopen today and futures on three main US stock indices point to lower openings.


DAX 30 leads European indices losses

European stocks
pulled back on Monday on weak Chinese growth data. Both the EUR/USD and GBP/USD turned higher but are currently lower. The Stoxx Europe 600 index lost 0.2%. The DAX 30 fell 0.6% to 11136.20. France’s CAC 40 slipped 0.2% while UK’s FTSE 100 inched up 0.03% to 6970.59.

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Shanghai Composite leads Asian indices losses

Asian stock indices are falling today giving back Monday gains after China reported its gross domestic product for 2018 rose 6.6%, the slowest annual pace since 1990. Nikkei lost 0.5% to 20622.91 as yen continued its climb against the dollar. Chinese shares are lower: the Shanghai Composite Index is down 1.2% and Hong Kong’s Hang Seng Index is 0.9% lower. Australia’s All Ordinaries Index erased previous session gains declining 0.5% despite Australian dollar continuing slide against the greenback.


Brent down

Brent futures prices are edging lower today with supply cuts from major oil producers OPEC and Russia providing support. Prices rose yesterday: March Brent crude gained 3 cents to $62.74 a barrel on Monday.