The greenback is overvalued according to IMFJuly 18, 2019
IMF warns about the potential dangers for the U.S Dollar
On Wednesday the IMF stated that the greenback continues to be overestimated from 6% to astonishing 12%. These numbers came out after the examination of the short term economic fundamentals.
The International Monetary Fund does not agree with the U.S. President Donald Trump regarding the imposing of tariffs to settle trade imbalances.
Dow lost more than 100 points
On Wednesday the U.S Stocks dropped while the corporate earnings season started to heat up with companies including Bank of America delivering their quarterly data.
Stocks ended the day reaching their lows after the Wall Street Journal announced that the progress regarding a trade agreement with China is stopped once more over limitations on Huawei. The Nasdaq Composite ended almost 0.5% weaker at 8,185.20.
The Dow Jones Industrial Average fell more than 115 points while the S&P 500 went down more than 0.6% to 2,984.40.
Netflix fell about 11%
On Wednesday the U.S. stock index futures registered a weaker momentum while investors wait. On Wednesday afternoon the popular Netflix fell almost 11% after-hours due to the company’s Q2 earnings release. A possible reason for the drop is because Netflix’s international net profits were 2.8 million versus the analyst’s expectations that the number would be closer to 4.8 million. Netflix is blaming several factors like price advances in some countries.
Brent crude was up 13 cents
On Thursday Oil remained steady following the drop in the previous trading session. The reason behind that is that the release of the official data revealed an increase in U.S. stockpiles of products like gasoline last week. That suggested a low interest through the peak driving period.
U.S West Texas Intermediate crude futures fell 1 cent at $56.76 while
Brent crude futures went up 13 cents, at $63.79 a barrel Brent dropped more than 1% on Wednesday.