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US markets retreat on weak US data, dollar tumbles

FXstreet.com (Barcelona) - Shares in the US markets are trading on the back foot on Wednesday, as poor data from Durable Goods Orders eclipsed upbeat earnings reports. The greenback, measured by the US Dollar Index, is posting marginal losses although keeping the 83.00 handle.
DowJones is down 0.32% followed by the S&P500 and the Nasdaq, losing 0.11% and 0.32%.

In the meantime, markets in Europe closed with gains against the backdrop of increasing hopes on a rate cut by the ECB, fuelled today after the poor IFO indicator in Germany.
The CAC40 led the winners, advancing 1.58% seconded by the DAX, 1.32% and the IBEX35, 1.21%.
The single currency remains anchored around the psychological mark at 1.3000 after hitting lows around 1.2950 post-IFO, climbing soon after to levels shy of 1.3040.

In the commodities space, the barrel of WTI is rallying 2.19% at $91.11 while the ounce troy of the precious metal advances 0.98% at $1,422.

Euro clings to 1.3000 with ECB on sight

The shared currency continues waver at the rhythm of headlines and economic indicators, posting lower lows on daily basis against the dollar. Growing expectations the ECB will have to respond to fundamental weakness with a rate cut as soon as next week, weighed on the shared currency but helped to support stocks.
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Forex: US Dollar Index hovering over 83.00

The greenback, measured by the US Dollar Index, is trading in the defensive ground on Wednesday although keeping the key 83.00 figure so far, as markets remain biased towards riskier assets...
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