{"id":132280,"date":"2018-08-21T06:42:44","date_gmt":"2018-08-21T10:42:44","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=132280"},"modified":"2018-08-21T06:42:44","modified_gmt":"2018-08-21T10:42:44","slug":"dollar-slides-as-trump-criticizes-fed","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/08\/dollar-slides-as-trump-criticizes-fed\/","title":{"rendered":"Dollar slides as Trump criticizes Fed"},"content":{"rendered":"
August 21, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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SP 500 gains third session in row<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>advance continued on Monday led by materials and energy shares. The\u00a0S&P 500\u00a0<\/em>gained 0.2% to 2857.05.Dow Jones\u00a0<\/a>industrial rose 0.4% to 25758.69. The\u00a0Nasdaq\u00a0<\/em>composite index added 0.1% to 7819.71. The dollar weakening continued:\u00a0live dollar index<\/a>\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, fell 0.4% to 95.708 and is lower currently. Stock index futures point to higher openings today.<\/p>\n

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Relief the US and China will resume trade talks tomorrow helped buoy market sentiment. However President Trump said he did not expect much progress from trade talks with China, and he had \u201cno time frame\u201d for ending the trade dispute. He also criticized Fed Chairman Jerome Powell for higher rates, telling he should be given ‘some help’ by the Fed. Atlanta Fed President Bostic on Monday repeated that he expected one more interest rate hike this year. Bostic is a voting member of the Fed’s interest rate committee this year, and the median forecast of the committee is for two more rate hikes this year.<\/p>\n<\/div>\n<\/div>\n

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FTSE 100 opens lower than main European indices<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>rebounded on Monday on US-China trade talks optimism. Both the\u00a0GBP\/USD<\/em>\u00a0and\u00a0EUR\/USD<\/a>\u00a0continued their climb and both pairs are moving higher currently. The Stoxx Europe 600 index rose 0.6%. The\u00a0DAX 30\u00a0<\/em>rallied 1% to 12331.30 and France\u2019s\u00a0CAC 40\u00a0<\/em>gained 0.7%. UK\u2019s\u00a0FTSE 100\u00a0<\/a>added 0.4% to 7591.26. Markets opened flat to 0.2% lower today.<\/p>\n

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Greece officially exited the European Union\u2019s stability program, ending the eight-year-long string of bailouts. A deal was struck earlier this year that will defer payments on 96 billion euros worth of bailout loans, or 40% of the country\u2019s total debt, until 2033. And the maturity on some of the country\u2019s other loans were extended. However Greece must commit to a primary surplus, a budget surplus excluding interest payments, of 3.5% of GDP until 2022 before transitioning to a ratio of 2% to 3% of GDP until 2060.<\/p>\n<\/div>\n<\/div>\n

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Trump accuses China of currency manipulation<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mostly higher today.\u00a0Nikkei\u00a0<\/em>gained 0.1% to 22219.73 helped by yen slide against the dollar. Chinese stocks continued recovering despite President Trump\u2019s comment China manipulates its yuan currency to offset tariffs imposed by Washington: the\u00a0Shanghai Composite Index\u00a0<\/em>is up 1.3% and Hong Kong\u2019s\u00a0Hang Seng\u00a0<\/em>Index is 0.5% higher. Australia\u2019s All Ordinaries Index on the other hand is down 1% as the Australian dollar climb against the greenback slowed.<\/p>\n

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Brent\u00a0<\/a>rises despite US sales of strategic reserves<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are extending gains today ahead of the peak US demand period for fuels. However gains are expected to be capped by Washington\u2019s offer of 11 million barrels of high-sulfur, or sour, crude from its Strategic Petroleum Reserve for delivery from October 1 to November 30. The released oil could offset expected supply shortfalls from US sanctions against Iran. October Brent crude settled 0.5% higher at $72.21 a barrel on Monday.<\/p>\n

\"BRENT\"<\/p>\n

Market Analysis provided by IFCMarkets<\/a><\/p>

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Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets SP 500 gains third session in row US stock market\u00a0advance continued on Monday led by materials and energy shares. The\u00a0S&P 500\u00a0gained 0.2% to 2857.05.Dow Jones\u00a0industrial rose 0.4% to 25758.69. The\u00a0Nasdaq\u00a0composite index added 0.1% to 7819.71. The dollar weakening continued:\u00a0live dollar index\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-132280","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/132280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=132280"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/132280\/revisions"}],"predecessor-version":[{"id":132288,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/132280\/revisions\/132288"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=132280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=132280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=132280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}