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Markets calm after North Korea missile launch

By IFCMarkets

Dow closes at record high while broad market slips

US stocks slipped on Thursday led by retailer shares. The dollar weakened despite 0.4% rise in consumer prices in August instead of an expected 0.3% gain: 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, fell 0.3% to 92.065. Dow Jones industrial average managed to close at record high third consecutive session adding 0.2% to 22203.48. The S&P 500 slipped 0.1% settling at 2495.62. The Nasdaq index fell 0.5% closing at 6429.08.

Bank of England leaves policy unchanged but warns of inflation upside risks

European stocks advanced on Thursday. Both euro and British Pound ended higher against the dollar. The Bank of England warning UK interest rates could rise faster than traders currently are pricing in while the policy was kept unchanged boosted the Pound. The Stoxx Europe 600 closed 0.1% higher. Germany’s DAX 30 lost 0.1% to 12540.45. France’s CAC 40 added 0.2% while UK’s FTSE 100 fell 1.1% to 7295.39. Indices opened 0.1% – 0.2% lower today.

GB 100

Asian markets lower after North Korea missile test

Asian stock indices are mostly lower today after North Korea fired another missile over Japan into the Pacific Ocean. Nikkei ended higher 0.5% at 19909.50 as yen reversed previous day’s gains. Market reaction to North Korea missile launch was calm as a Pyongyang response to UN Monday sanctions was anticipated. Chinese stocks are mixed: the Shanghai Composite Index is down 0.5% while Hong Kong’s Hang Seng Index is flat. Australia’s All Ordinaries Index is 0.7% lower as the Australian dollar is little changed against the greenback.

Oil dipping

Oil futures prices are inching lower. Prices rose yesterday on signs of easing of global oversupply. The International Energy Agency said Wednesday global oil supply dropped by 720 thousand barrels a day last month, largely due to civil unrest in Libya and disruptions to US production caused by Hurricane Harvey. Brent for November settlement rose 0.6% to end the session at $55.47 a barrel on the London-based ICE Futures exchange on Thursday.

Market Analysis provided by IFCMarkets

Note:
This 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 а 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.

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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