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US stocks rise, USD gains momentum

FXStreet (Córdoba) - Equities in the US were rising on Tuesday while European markets rose for the second day in a row. In the UK, after yesterday’s Bank Holiday the FTSE 100 rose 0.70%, the Dax climbed 0.82% and the FTSE MIB gained 1.33%. In Wall Street, the Dow Jones was rising 0.33% at 17,134 while the S&P 500 was up 0.20% above 2,000.

In the US, economic data showed that consumer confidence measured by the Conference Board rose in August to 92.4, hitting the highest level since October 2007; home price rose 1% in June while durable goods orders jumped by 22.6% in July but excluding transportation fell by 0.8%.

In the forex market, the US dollar gained momntun during the American session and was rising versus european currencies and the Yen, while it was trimming losses versus the Kiwi and the Aussie. The Loonie was the best performer among majors. Gold jumped during the European session to $1,292, highest price since last Thursday but then pulled back to $1,282 while crude oil was rising 0.30%, trading above $93.50 a barrel.

Long greenback’s continue building - BMO Capital Markets

Stephen Gallo, European Head of Currency Strategy at BMO Capital noted that long USD positioning is building up.
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AUD/USD pushing lower on 0.93 handle

AUD/USD is trading at 0.9304, up 0.06% on the day, having posted a daily high at 0.9333 and low at 0.9272.
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