Menu

Daily market commentary: The Dollar Index is almost flat



FOREX

The Dollar Index is almost flat in relation to other currencies during early Tuesday trading. Today’s calm comes after the dollar dropped more than 0.4% during Monday, as risk appetite improved following the discharge of the US President from hospital and rising hopes that a deal between Democrats and Republicans will be reached by lawmakers in Washington on a much-needed fiscal stimulus package. The progress of these talks will be closely followed by the financial markets, as will any developments surrounding Donald Trump’s health with no news being good news for the greenback in the case of the latter.

Ricardo Evangelista – Senior Analyst, ActivTrades

daily market analysis

EUROPEAN SHARES

Monday’s optimism on President Trump’s improving health conditions as well as hopes of further stimulus from US lawmakers recently had an important bullish impact on both US and Asian stock markets, however, this sentiment isn’t continuing in Europe today after benchmarks opened mixed. While many investors welcomed the good news from the US, they may also prefer to stay cautious prior to today’s speeches from the chairs of both the ECB and the FED, Christine Lagarde and Jerome Powell. While nothing significant is really expected today from the central banks, investors will still scrutinize these speeches in order to get more clues on where monetary policies will be going soon, which could have an important impact on both the FX and stock markets. Today’s best performances are so far coming from the energy and industrial sector while healthcare and real estate trade at the bottom of the table. The IBEX-35 Index from Madrid leads the way so far in Europe and is now trading well above 6,830pts, closer to its major resistance at 6,900pts.

Pierre Veyret – Technical analyst, ActivTrades


Disclaimer: opinions are personal to the authors and do not reflect the opinions of LeapRate. This is not a trading advice.

Related News

arrow

Daily market commentary: The Dollar Index is almost flat

0
Send this to a friend