By IFCMarkets
Dollar strengthening slowed on initial claims data
US stock market rebound continued on Thursday after reports Trump administration might delay a planned 5% tariff on all imports from Mexico. The S&P 500 added 0.6% to 2843.49. The Dow Jones industrial average rose 0.7% to 25720.66. Nasdaq composite index gained 0.5% to 7615.55. The dollar strengthening reversed as new applications for unemployment benefits rose to 218,000, in the week ended June 1, from 215,000. 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, fell 0.3% to 97.0 but is lower currently. Futures on US stock indices point to higher openings today.
FTSE 100 rises while other European indexes slip
European stocks ended mixed on Thursday as the European Central Bank left its overnight deposit interest rate at minus 0.4%, while extending its forecast for how long it will keep rates this low into at least the first half of 2020. Both EUR/USD and GBP/USD turned higher with Pound rising currently while euro retracing lower. The Stoxx Europe 600 index ended marginally lower. Germany’s DAX 30 slipped 0.2% to 11953.14. France’s CAC 40 lost 0.3% while UK’s FTSE 100 gained 0.6% to 7259.85.
Australia’s All Ordinaries Index leads Asian indexes recovery
Asian stock indices are edging higher in thin trading today with markets in Hong Kong, mainland China and Taiwan closed for a holiday. Nikkei rose 0.5% to 20884.71 as yen slide against the dollar persisted. Australia’s All Ordinaries Index extended gains 1.0% with Australian dollar flat against the greenback.
Brent rebounds
Brent futures prices are edging higher today. Prices rebounded yesterday: August Brent crude rose 1.7% to $61.67 a barrel on Thursday.
Market Analysis provided by IFCMarkets
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
