{"id":170759,"date":"2020-05-19T07:43:41","date_gmt":"2020-05-19T11:43:41","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=170759"},"modified":"2020-05-19T07:43:41","modified_gmt":"2020-05-19T11:43:41","slug":"equities-rebound-continues-ahead-of-testimony-from-powell-mnuchin","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/05\/equities-rebound-continues-ahead-of-testimony-from-powell-mnuchin\/","title":{"rendered":"Equities rebound continues ahead of testimony from Powell, Mnuchin"},"content":{"rendered":"
May 19, 2020<\/div>
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By IFCMarkets<\/a><\/p>\n

Top daily news<\/h2>\n

Global equities are gaining today<\/strong> as worries about a second wave of coronavirus cases were offset by reports drug maker Moderna has recorded positive, early results from first human trial of its experimental Covid-19 vaccine. Treasury Secretary Mnuchin and Federal Reserve Chair Powell are expected to testify before the Senate Banking Committee on what further aid is required for the economy amid calls to extend the $660 billion Paycheck Protection Program.<\/p>\n

Forex news<\/h2>\n\n\n\n\n\n\n\n
Currency Pair<\/td>\nChange<\/td>\n<\/tr>\n
EUR USD<\/td>\n+0.17%<\/td>\n<\/tr>\n
GBP USD<\/td>\n+0.38%<\/td>\n<\/tr>\n
USD JPY<\/td>\n+0.1%<\/td>\n<\/tr>\n
AUD USD<\/td>\n+0.47%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The Dollar weakening continues<\/strong> today ahead of housing starts and building permits reports due later today. 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 0.8% Monday. GBP\/USD<\/a>\u00a0 \u00a0joined EUR\/USD\u2019s <\/a> continued climbing Monday \u00a0with both pairs higher currently. AUD\/USD\u00a0\u00a0<\/em>joined USD\/JPY\u2019s<\/em>\u00a0continuing climbing yesterday and both pairs are up currently.<\/p>\n

Stock Market news<\/h2>\n\n\n\n\n\n\n\n
Indices<\/td>\nChange<\/td>\n<\/tr>\n
Dow Jones Index<\/td>\n+0.1%<\/td>\n<\/tr>\n
Nikkei Index<\/td>\n+1.69%<\/td>\n<\/tr>\n
Hang Seng Index<\/td>\n-0.33%<\/td>\n<\/tr>\n
Australian Stock Index<\/td>\n-1.14%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Futures on three main US stock indexes are gaining currently <\/strong>after ending sharply higher Monday as Fed chair Powell reiterated that the central bank would use its \u201cfull range of tools tool\u201d to aid the economy. President Trump said an extension of the $660 billion Paycheck Protection Program \u201cshould be easy.\u201d Walmart, JP Morgan and Home Depot are among companies reporting quarterly results today while more states are reopening economies and California relaxes reopening rules. Stock indexes in US rallied on Monday: the three main US stock indexes posted gains ranging from 2.4% to 3.9%. European stock indexes <\/em>are rising currently after sharp gains Monday. German Chancellor Merkel and French President Macron announced a 500 billion euro ($545 billion) debt-backed plan to provide grants, rather than loans, for \u201cthe most affected sectors and regions based on EU budget programs and in line with European priorities.\u201d Asian indexes are mostly higher today. Hong Kong\u2019s Hang Seng Index<\/em>\u00a0is leading advancers with 2.2% gain despite Nasdaq plans to toughen rules that could make it harder for Chinese companies to list on its exchange.<\/p>\n

Commodity Market news<\/h2>\n\n\n\n\n\n
Commodities<\/td>\nChange<\/td>\n<\/tr>\n
Brent Crude Oil<\/td>\n-1.54%<\/td>\n<\/tr>\n
WTI Crude<\/td>\n-1.29%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Brent\u00a0 <\/a> is edging lower today. Oil prices rallied on Monday against the background of report crude oil production from seven major US shale plays is forecast to decline by 197,000 barrels a day in June to 7.822 million barrels a day, according to the Energy Information Administration. The US oil benchmark\u00a0\u00a0West Texas Intermediate (WTI) <\/em>\u00a0futures jumped Monday:\u00a0\u00a0 July WTI\u00a0 \u00a0<\/em>gained 7.2% but is falling currently. \u00a0July Brent <\/em>\u00a0crude climbed 7.1% to $34.83 a barrel.<\/p>\n

Gold Market News<\/h2>\n\n\n\n\n
Metals<\/td>\nChange<\/td>\n<\/tr>\n
Gold<\/td>\n-0.07%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Gold\u00a0\u00a0<\/strong>prices are rebounding today. June gold lost 1.3% to $1734.40 an ounce on Monday.<\/p>

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

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 Top daily news Global equities are gaining today as worries about a second wave of coronavirus cases were offset by reports drug maker Moderna has recorded positive, early results from first human trial of its experimental Covid-19 vaccine. Treasury Secretary Mnuchin and Federal Reserve Chair Powell are expected to testify before the Senate […]<\/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-170759","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170759","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=170759"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170759\/revisions"}],"predecessor-version":[{"id":170763,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170759\/revisions\/170763"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=170759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=170759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=170759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}