{"id":151206,"date":"2019-07-10T07:31:18","date_gmt":"2019-07-10T11:31:18","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=151206"},"modified":"2019-07-10T07:31:18","modified_gmt":"2019-07-10T11:31:18","slug":"markets-calm-ahead-of-powell-testimony","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/07\/markets-calm-ahead-of-powell-testimony\/","title":{"rendered":"Markets calm ahead of Powell testimony"},"content":{"rendered":"
July 10, 2019<\/div>
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By IFCMarkets<\/a><\/p>\n

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SP500 ticked up while Dow slipped ahead of Powell testimony<\/h2>\n<\/div>\n<\/div>\n

US stock market <\/b> ended mostly higher on Tuesday ahead of Powell\u2019s two-day testimony to Congress starting today. The S&P 500 <\/em> advanced 0.1% to 2979.63. Dow Jones <\/em> industrial however slipped 0.1% to 26783.49. The Nasdaq <\/a> rose 0.5% to 8141.73. The dollar strengthening continued at previous pace as investor anticipate an indication from Fed chair Powell the Federal Reserve still plans to implement a 25 basis point rate cut at July 30-31 meeting while a bigger cut is seen unlikely after stronger than expected June jobs re[port last Friday: the live dollar index<\/a> data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, added 0.1% to 97.49 and is higher currently. Stock index futures point to lower market openings today<\/p>\n

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DAX 30 still loss leader among European indexes<\/h2>\n<\/div>\n<\/div>\n

European stocks <\/b> retreat deepened on Tuesday weighed by a warning of an autos slowdown from German chemicals giant BASF. The GBP\/USD <\/em> and EUR\/USD <\/em> slump continued with both pairs lower currently. The Stoxx Europe 600 ended 0.5% lower led by resources shares. The German DAX 30 <\/a> fell 0.9% to 12436.55 dragged by more than 3% drop in BASF. France\u2019s CAC 40<\/em> slid 0.3%. UK\u2019s FTSE 100 <\/em> slipped 0.2% to 7536.47 as average retail sales growth weakened to 0.6% in the 12 months to June, the slowest increase since 1995.<\/p>\n

\"FR40<\/p>\n

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Australia\u2019s All Ordinaries Index gains while other Asian indexes fall<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are mixed today. Nikkei <\/em> fell 0.2% to 21533.48 despite yen continuing slide against the dollar. Chinese stocks are mixed after report China\u2019s consumer inflation held steady last month as slowing non-food prices offset faster gains in food prices: the Shanghai Composite Index <\/em> is down 0.5% while Hong Kong\u2019s Hang Seng index <\/em> is 0.2% higher. Australia\u2019s All Ordinaries Index however turned 0.4% higher with Australian dollar sliding further against the greenback as Australian consumer confidence fell to a two-year low.<\/p>\n

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Brent <\/a> advances<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> are extending gains today. The American Petroleum Institute late Tuesday report indicated US crude inventories fell by 8.1 million barrels last week. Prices inched up yesterday: September Brent added 0.1% to $64.16 a barrel on 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 SP500 ticked up while Dow slipped ahead of Powell testimony US stock market ended mostly higher on Tuesday ahead of Powell\u2019s two-day testimony to Congress starting today. The S&P 500 advanced 0.1% to 2979.63. Dow Jones industrial however slipped 0.1% to 26783.49. The Nasdaq rose 0.5% to 8141.73. The dollar strengthening continued at […]<\/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-151206","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/151206","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=151206"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/151206\/revisions"}],"predecessor-version":[{"id":151215,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/151206\/revisions\/151215"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=151206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=151206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=151206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}