By IFCMarkets.com
Top daily news
Equity markets are mixed currently after a choppy trade Thursday as Federal Reserve announced a shift in policy framework that will place more emphasis on boosting economic growth and less on worries about letting inflation run too high.
Forex news
Currency Pair | Change |
EUR USD | +0.61% |
GBP USD | +0.41% |
USD JPY | +0.24% |
The Dollar strengthening has halted currently ahead of the US inflation report at 16:30 CET 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, added 0.1% Thursday as Labor Department reported continuing claims fell slightly to 14.5 million while 1.01 million Americans filed for first-time benefits. At the same time the second-quarter gross domestic product was revised to a 31.7% drop at annualized pace.
GBP/USD joined
EUR/USD’s continued sliding yesterday with both pairs higher currently.
USD/JPY joined
AUD/USD’s continued climbing yesterday with both yen and Australian dollar higher against the greenback currently.
Stock Market news
Indices | Change |
Dow Jones Index | +0.05% |
GB 100 Index | -0.6% |
Nikkei Index | -1.42% |
Hang Seng Index | +0.51% |
Futures on three main US stock indexes are higher currently after ending mixed Thursday. The three main US stock benchmarks recorded returns ranging from -0.3% to 0.6% as Federal Reserve Chairman Jerome Powell said policy makers would no longer pre-emptively hike interest rates to keep inflation just below 2%. European stock indexes are extending losses today after ending lower Thursday. Asian indexes are mixed currently with Nikkei leading losses after a surprise announcement that Japanese Prime Minister Shinzo Abe will resign for health reasons later on in the day.
Commodity Market news
Commodities | Change |
Brent Crude Oil | -0.27% |
WTI Crude | -0.31% |
Brent is edging lower today. Oil prices fell yesterday despite the US Energy Information Administration report Wednesday that US crude oil inventories fell by 4.7 million barrels last week, the fifth weekly decline in a row while gasoline inventories declined by 4.6 million barrels. The US oil benchmark
West Texas Intermediate (WTI) futures ended lower yesterday:
October WTI fell 0.8% and is lower currently.
October Brent crude closed 1.2% lower at $45.09 a barrel on Thursday.
Gold Market News
Gold prices are rebound today . December gold ended 0.8% lower at $1932.60 an ounce on Thursday.
Market Analysis provided by IFCMarkets.com
- The British index has updated the historical maximum. Oil lost 5% over the week May 3, 2024
- US Fed tilts towards a rate cut despite the postponement. HKMA left the rate unchanged at 5.75% May 2, 2024
- Brent crude oil hits seven-week low May 2, 2024
- Target Thursdays: USDJPY, Copper & EURCAD May 2, 2024
- WTI oil declines on rising inventories and negotiations between Israel and Hamas. Rising unemployment in New Zealand may force RBNZ to start cutting rates earlier May 1, 2024
- Bitcoin stumbles below $60k ahead of Fed May 1, 2024
- Expert Says Now Looks Like a Good Time To Buy This Renewable Energy Stock Apr 30, 2024
- Optimism over corporate earnings is fueling stock indices. The Hong Kong index reached a 5-month high Apr 30, 2024
- FXTM’s Copper: Hits fresh two-year high! Apr 30, 2024
- European indices grow on the ECB’s “dovish” position. Quarterly reports of mega-companies support the broad market Apr 29, 2024