Global markets mixed after mixed session Friday - 20.7.2020

The Dollar weakening has halted currently. 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 0.4% Friday as US consumer sentiment index fell to 73.2 in July from 78.1 while US housing starts rose 17% from May. Both GBP/USD and EUR/USD reversed their sliding Friday. Euro is higher currently against the dollar while Pound is down. AUD/USD reversed its sliding while USD/JPY reversed its climbing Friday with the dynamics reversed for both pairs currently.

US equity markets are lower today ahead of second quarter earnings reports. IBM and Halliburton are among the SP500 large capital companies slated to report earnings today. The three main US stock indexes recorded weekly returns ranging from -1.1% to 2.3% last week. European stock indexes are extending losses  currently ahead of European Union Summit where leaders will continue discussing the €750 billion recovery fund after reports delegations might abandon the summit and try again for an agreement next month. Asian indexes are mixed today after data showed Japan’s exports suffered a double-digit decline for the fourth month in a row in June.

Brent is extending losses today as traders anticipate the fuel demand will be negatively impacted by rising coronavirus cases worldwide. Oil prices ended lower last session. The US oil benchmark West Texas Intermediate (WTI) futures are lower currently. September Brent crude lost 0.5% to $43.14 a barrel on Friday.