Markets trade cautiously with no stimulus decision yet - 14.8.2020

The Dollar weakening has halted currently ahead of US retail sales report at 16:30 CET today. 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, slid 0.2% Thursday as Labor Department data showed 963 thousand Americans filed for first-time benefits, a decline of 223,000. GBP/USD joined EUR/USD’s continued climbing yesterday as the Royal Institution of Chartered Surveyors reported UK house prices reversed the negative trend for first time since March. Both pairs are lower currently. Both yen and Australian dollar continued their sliding yesterday against the greenback with the dynamics intact for both currently.

Futures on three main US stock indexes are mixed currently after ending mixed Thursday. The three main US stock indexes recorded returns ranging from -0.3% to 0.3% as import prices rose for the third straight month. European stock indexes are lower today after ending lower Thursday as the US held tariffs on European Union products, including whiskey and Airbus AIR, -1.64% aircraft, unchanged. Asian indexes are mostly higher today led by Shanghai Composite despite a slower than expected rise in industrial production and a surprise fall in retail sales.

Brent is edging lower today. Oil prices fell yesterday after the International Energy Agency published a deeper cut in its forecast for global crude demand in 2020. The agency expects global demand to contract by 8.1 million barrels a day year on year, 140,000 barrels more than in last month’s report. The US oil benchmark West Texas Intermediate (WTI) futures ended lower yesterday: September WTI fell 1% and is lower currently. October Brent crude closed 1% lower at $44.96 a barrel on Thursday.