Bullet Report: USD Still Under Pressure | Oil Poised for Gains?
March 28, 2017 6:57 am
Overnight, the dollar fell against a basket of major currencies on Monday, as investors dumped the dollar amid doubts over President Trump’s ability to deliver on his pro-growth economic agenda. The dollar dropped to its lowest level since November, as the U.S. House of Representatives’ decision to withdraw a healthcare bill to repeal and replace Obamacare on Friday, continued to weigh on sentiment. Investors viewed the failure to pass the bill as a major setback for the Trump administration and started to question President Trump’s ability to push through more ‘market sensitive’ legislation such as tax reform.
The Dow Jones Industrial Average closed 0.22% lower at 20,550. The S&P 500 shed 0.10% and the Nasdaq Composite closed higher at 5840.37. The Dow closed lower for an eighth-straight session. In Australia, the S&P/ASX 200 gained 1.15%. But retail firm Myer dropped 4.00% after rallying about 18% on Monday amid speculation that a takeover bid was on the cards.
WTI Oil gained 0.5 percent to $47.97 a barrel, after dropping as much as 1.9 percent on Monday. Gold was little changed at 1,253.41 an ounce on Tuesday, after pulling back from the one-month-high hit on Monday.
Japan’s Nikkei 225 rose 1.07%, recovering from a sharp decline overnight as Fujitsu and Lenovo Group announced the postponement of their target date for a final deal on their personal computer business tie-up.
Qatar’s prime minister, Sheikh Abdullah bin Nasser bin Khalifa al-Thani, said in a statement that Qatar expected to invest 5 billion pounds ($6.3 billion) in Britain over the next five years.
The U.S. dollar index was down 0.87% at 98.87, its lowest trough since November 11. The index had surged to almost 14-year highs in early January on the back of expectations for a strong economic recovery and higher inflation, the so called ‘Trump Trade’.
Overnight, the dollar fell against a basket of major currencies on Monday, as investors dumped the dollar amid doubts over President Trump’s ability to deliver on his pro-growth economic agenda. The dollar dropped to its lowest level since November, as the U.S. House of Representatives’ decision to withdraw a healthcare bill to repeal and replace Obamacare on Friday, continued to weigh on sentiment. Investors viewed the failure to pass the bill as a major setback for the Trump administration and started to question President Trump’s ability to push through more ‘market sensitive’ legislation such as tax reform.
The Dow Jones Industrial Average closed 0.22% lower at 20,550. The S&P 500 shed 0.10% and the Nasdaq Composite closed higher at 5840.37. The Dow closed lower for an eighth-straight session. In Australia, the S&P/ASX 200 gained 1.15%. But retail firm Myer dropped 4.00% after rallying about 18% on Monday amid speculation that a takeover bid was on the cards.
WTI Oil gained 0.5 percent to $47.97 a barrel, after dropping as much as 1.9 percent on Monday. Gold was little changed at 1,253.41 an ounce on Tuesday, after pulling back from the one-month-high hit on Monday.
Japan’s Nikkei 225 rose 1.07%, recovering from a sharp decline overnight as Fujitsu and Lenovo Group announced the postponement of their target date for a final deal on their personal computer business tie-up.
Qatar’s prime minister, Sheikh Abdullah bin Nasser bin Khalifa al-Thani, said in a statement that Qatar expected to invest 5 billion pounds ($6.3 billion) in Britain over the next five years.
The U.S. dollar index was down 0.87% at 98.87, its lowest trough since November 11. The index had surged to almost 14-year highs in early January on the back of expectations for a strong economic recovery and higher inflation, the so called ‘Trump Trade’.
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Source: Easy Forex Forex.Info
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