US stocks end week higher

Dmitry Lukashov IFC Markets

Main stock indices fall despite positive earnings

US stocks closed lower Friday despite better than expected first-quarter earnings. S&P 500 lost 0.3% to 2656.30 led by financial stocks. SP 500 gained 2% for the week. Dow Jones industrial average fell 0.5% to 24360.14. The Nasdaqcomposite dropped 0.5% to 7106.65. The dollar turned lower Friday: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, inched down less than 0.1% to 89.732. Stock indices futures indicate higher openings today.

European stocks log third straight weekly gain

European stocks extended gains on Friday. The Stoxx Europe 600 Index gained 0.1%, rising 1.2% for the week. Theeuro joined British Pound’s climb against the dollar. The DAX 30 rose 0.2% to 12442.40. France’s CAC 40 added 0.1% and UK’s FTSE 100 gained 0.1% to 7264.56. Indices opened flat to 0.3% higher today.

Asian indices mixed

Asian stock indices are mixed today with traders uncertain how events will develop in Middle East after Friday airstrikes against Syria by the US and allies. Nikkei rose 0.3% to 21836 despite yen reversal higher against the dollar. Chinese stocks are a lower: the Shanghai Composite Index is down 1.5% and Hong Kong’s Hang Seng Index is 2% lower. Australia’s All Ordinaries Index is up 0.2% as Australian dollar extends gains against the greenback.

Brent slides

Brent futures prices are retreating today following US and allies strikes on Syria and data showing rising US oil rig count last week. Prices rose Friday on geopolitical tensions as traders wondered when the US would launch Syria airstrikes ater President Trump’s warning. Brent for June settlement rose 0.8% to close at $72.58 a barrel Friday.

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Author

Dmitry Lukashov

IFC Markets

Dimtry Lukashov is the senior analyst of IFC Markets. He started his professional career in the financial market as a trader interested in stocks and obligations.

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.