{"id":151287,"date":"2019-07-11T06:45:31","date_gmt":"2019-07-11T10:45:31","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=151287"},"modified":"2019-07-11T06:37:15","modified_gmt":"2019-07-11T10:37:15","slug":"powell-hints-at-imminent-rate-cut","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/07\/powell-hints-at-imminent-rate-cut\/","title":{"rendered":"Powell hints at imminent rate cut"},"content":{"rendered":"
July 11, 2019<\/div>
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By IFCMarkets<\/a><\/p>\n

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Nasdaq closes at record<\/h2>\n<\/div>\n<\/div>\n

US stock market <\/b> extended gains on Wednesday after Powell testimony confirmed Federal Reserve plans a rate cut in July. The S&P 500<\/a> rose 0.5% to 2993.07. The Dow Jones <\/em> industrial average gained 0.3% to 26860.20. Nasdaq <\/em> composite index advanced 0.8% to record 8202.53. The dollar strengthening reversed as Powell comments emphasized rising risks to the US economy from trade policy and slowing global growth, as well as falling price inflation. 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, fell 0.4% to 97.10 and is lower currently. Stock index futures point to higher market openings today<\/p>\n

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FTSE 100 slips despite above expected GDP growth<\/h2>\n<\/div>\n<\/div>\n

European stocks <\/b> continued retreating on Wednesday. Both EUR\/USD <\/em> and GBP\/USD <\/em> turned higher with both pairs rising currently. The Stoxx Europe 600 lost 0.2% led by telecom shares. Germany\u2019s DAX 30 <\/em> fell 0.5% to 12373.41. France\u2019s CAC 40<\/em> slid 0.1% and UK\u2019s FTSE 100 <\/em> slipped 0.1% to 7530.69 despite data showing UK economy expanded by above expected 0.3% in May after contracting 0.4% in April.<\/p>\n

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Hang Seng leads Asian indexes rebound<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are rising today. Nikkei <\/em> rebounded 0.5% to 21643.53 with yen continuing its climb against the dollar. Chinese stocks are gaining: the Shanghai Composite Index <\/em> is up 0.1% and Hong Kong\u2019s Hang Seng Index <\/em> is 0.8% higher. Australia\u2019s All Ordinaries Index extended gains 0.4% despite Australian dollar’s continuing climb against the greenback.<\/p>\n

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Brent <\/a> rallies on Gulf of Mexico storm concerns<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> jumped today as a storm built in the Gulf of Mexico. Prices rebounded yesterday after the Energy Information Administration report US crude inventories dropped by bigger than expected 9.5 million barrels last week while gasoline inventories declined by 1.5 million. September Brent crude jumped 4.4% to $67.01 a barrel on Wednesday.<\/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 Nasdaq closes at record US stock market extended gains on Wednesday after Powell testimony confirmed Federal Reserve plans a rate cut in July. The S&P 500 rose 0.5% to 2993.07. The Dow Jones industrial average gained 0.3% to 26860.20. Nasdaq composite index advanced 0.8% to record 8202.53. The dollar strengthening reversed as Powell […]<\/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-151287","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/151287","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=151287"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/151287\/revisions"}],"predecessor-version":[{"id":151298,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/151287\/revisions\/151298"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=151287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=151287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=151287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}