{"id":132359,"date":"2018-08-22T06:47:50","date_gmt":"2018-08-22T10:47:50","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=132359"},"modified":"2018-08-22T06:47:50","modified_gmt":"2018-08-22T10:47:50","slug":"dollar-skid-accelerates-after-trumps-fed-comment","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/08\/dollar-skid-accelerates-after-trumps-fed-comment\/","title":{"rendered":"Dollar skid accelerates after Trump\u2019s Fed comment"},"content":{"rendered":"
August 22, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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S&P 500 logs 4th gain in a row<\/h2>\n<\/div>\n<\/div>\n

US stock market\u00a0<\/b>closed in the vicinity of record high on Tuesday. The\u00a0S&P 500\u00a0<\/em>added 0.2% to 2862.96, just 0.3% off the record close of January 26.\u00a0Dow Jones\u00a0<\/em>industrial average gained 0.3% to 25822.29. The\u00a0Nasdaq\u00a0<\/a>composite index climbed 0.5% to 7859.17. The dollar weakening accelerated: the\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 0.5% to 95.202 but is higher currently. Stock index futures indicate higher openings today.<\/p>\n

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President Trump\u2019s dissatisfaction with Fed\u2019s plan of gradual increases of short term interest rates as he commented he was \u201cnot thrilled\u201d with the Fed chairman Powell weighed on dollar. Dallas Fed President Kaplan said he expected three or four more quarter percentage point hikes before the central bank should pause and \u201cstep back and assess the outlook for economy\u201d. The Fed is expected to hike rates once or twice this year, which would only leave one or two interest rate increases in 2019, less than the three hikes currently expected. Traders will focus today on central bank\u2019s August meeting minutes which will be released today at 20:00 CET. No important economic data were released yesterday.<\/p>\n<\/div>\n<\/div>\n

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

European stocks\u00a0<\/b>extended gains on Tuesday led by bank and pharmaceutical shares. Both the\u00a0GBP\/USD<\/a>\u00a0and\u00a0EUR\/USD<\/em>accelerated their climb but both are down currently. The Stoxx Europe 600 gained 0.2%. The German\u00a0DAX 30\u00a0<\/a>rose 0.4% to 12384.49. France\u2019s\u00a0CAC 40<\/em>\u00a0rallied 0.6% while UK\u2019s\u00a0FTSE 100\u00a0<\/em>lost 0.3% to 7565.70. Markets opened mixed today.<\/p>\n

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Renewed Brexit talks between London and Brussels started on Tuesday with a meeting between UK Brexit minister Dominic Raab and European Union chief negotiator Michel Barnier. Euro strengthened as President Trump called the euro-zone, as well as China, currency manipulators once again the previous day.<\/p>\n<\/div>\n<\/div>\n

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Asian indices mixed<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mixed today.\u00a0Nikkei\u00a0<\/em>gained 0.6% to 22362.55 helped by continued yen slide against the dollar. Chinese stocks are falling after the People\u2019s Bank of China said on Tuesday it would not resort to strong stimulus to support growth: the\u00a0Shanghai Composite Index\u00a0<\/em>is down 0.7% while Hong Kong\u2019s\u00a0Hang Seng index\u00a0<\/em>is 0.4% higher. Australia\u2019s All Ordinaries Index is extending losses by 0.3 percentage points despite Australian dollar\u2019s turn lower against the greenback.<\/p>\n

\"AUDUSD\"<\/p>\n

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Brent\u00a0<\/a>rises on expected US crude stocks draw<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are higher today on expectations of falling US crude stocks ahead of sanctions on Iran. The American Petroleum Institute reported late Tuesday that US crude inventories fell 5.2 million barrels to last week. Prices ended higher yesterday: October Brent gained 0.6% to $72.63 a barrel Tuesday. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories.<\/p>\n

\nMarket 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 S&P 500 logs 4th gain in a row US stock market\u00a0closed in the vicinity of record high on Tuesday. The\u00a0S&P 500\u00a0added 0.2% to 2862.96, just 0.3% off the record close of January 26.\u00a0Dow Jones\u00a0industrial average gained 0.3% to 25822.29. The\u00a0Nasdaq\u00a0composite index climbed 0.5% to 7859.17. The dollar weakening accelerated: the\u00a0live dollar index\u00a0data show […]<\/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-132359","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/132359","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=132359"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/132359\/revisions"}],"predecessor-version":[{"id":132369,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/132359\/revisions\/132369"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=132359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=132359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=132359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}