Markets mixed as Democratic Convention starts - 18.8.2020

The Dollar weakening persists 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, slid 0.3% Monday despite a stronger than expected home builder confidence in the newly built, single-family home market in August, while the Empire State index fell 13.5 points to 3.7 in August, indicating a slower pace of growth. EUR/USD and GBP/USD continued climbing Monday. Both pairs are higher currently. AUD/USD continued advancing yesterday while USD/JPY continued sliding with the dynamics intact for both pairs currently.

Futures on three main US stock indexes are mixed currently ahead of the housing starts and building permits reports at 16:30 CET today. The three main US stock indexes posted returns ranging from -0.3% to 1.0% Monday. European stock indexes are advancing currently after retracing higher yesterday led by basic resources shares. Asian indexes are mixed today with Nikkei extending losses joined by Hong Kong’s Hang Seng Index .

Brent is pulling back today. Oil prices ended solidly higher on Monday after reports Friday Chinese state-owned oil companies had tentatively booked tankers to carry at least 20 million barrels of US crude oil in August and September. The US oil benchmark West Texas Intermediate (WTI) for September rose 2.1% Monday but is down currently. October Brent crude added 1.3% to $45.37 a barrel on Monday.