Global rally continues - 21.7.2020

The Dollar weakening continues 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 0.1% Monday. Both GBP/USD and EUR/USD continued rising Monday despite European Central Bank report euro-zone’s current account surplus declined in May instead of an expected increase. USD/JPY joined AUD/USD’s continued climbing yesterday with both pairs higher currently.

Futures on three main US stock indexes are advancing currently. Several companies will report second quarter results today including Coca Cola, Philip Morris and Lockheed Martin. Stock indexes in US ended higher Monday: the three main US stock indexes posted gains ranging from 0.03% to 2.5% as lawmakers continued discussions of a new coronavirus aid package. European stock indexes are edging higher currently after European Union leaders finally arrived at a deal on an unprecedented 1.8 trillion-euro ($2.1 trillion) budget and coronavirus recovery fund. They were discussing on Monday how the recovery fund will be distributed between grants and loans. Asian indexes are mostly higher today led by Australia’s All Ordinaries ASX 200 Index .

Brent is edging higher today. Oil prices ended higher on Monday: the US oil benchmark West Texas Intermediate (WTI) for August added 0.5% Monday and is up currently. September Brent crude edged up 0.3% to $43.28 a barrel on Monday.