Top daily news
Global markets are advancing currently after a bullish session on Monday as Republicans opened their national convention in Charlotte, North Carolina. Republicans formally nominated President Trump for another term. President Trump said Democrats are “ using COVID to defraud the American people - all of our people - of a fair and free election.”
Forex news
The Dollar strengthening has reversed 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, added 0.1% Monday despite a Federal Reserve report the Chicago Fed’s national activity index fell to 1.18 in July from a revised record-high of 5.33 in June. A zero value of the index indicates the national economy is expanding at its historic trend rate of growth. EUR/USD and GBP/USD continued sliding Monday. Both pairs are higher currently. AUD/USD joined USD/JPY’s continued advancing yesterday with the dynamics intact for both pairs currently.
Stock Market news
Futures on three main US stock indexes are rising currently ahead of the Conference Board’s consumer confidence report at 18:00 CET today. US stocks notched a fresh record Monday as the three main US stock indexes posted gains ranging from 0.6% to 1.4% in broader-based market advance including shares in airline and technology sectors. European stock indexes are extending gains currently after rebounding yesterday in a broad based advance. Asian indexes are mostly higher today with Nikkei leading advancers after reports senior US and Chinese officials "see progress" in implementing Phase 1 Sino-US trade deal as US Trade Representative Lighthizer and Treasury Secretary Mnuchin spoke with Chinese Vice Premier Liu He in a "regularly scheduled call" on Monday.
Commodity Market news
Brent is extending gains today. Oil prices ended higher on Monday as a pair of tropical storms closed in on the Gulf of Mexico. The Bureau of Safety and Environmental Enforcement reported Sunday that 57.6% of current Gulf oil production has been shut in, along with 44.6% of natural-gas output. That amounts to around 1.1 million barrels a day of oil output. The US oil benchmark West Texas Intermediate (WTI) for October rose 0.5% Monday but is down currently. October Brent crude added 1% to $44.78 a barrel on Monday.
Gold Market News
Gold prices are edging higher today. December gold declined 0.4% to $1939.20 an ounce on Monday.