By IFCMarkets
US stock market will reopen today after Independence Day holiday. All three main US indexes logged record high closings on Wednesday. Futures on three main US stock indices indicate higher openings today. The dollar declined yesterday: 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, slipped 0.02% to 96.73 but is higher currently ahead of June jobs report which is expected to help make or break the case for a rate cut later in July.
European stocks advanced for sixth straight session on Thursday led by Italian stocks after Italy persuaded the European Commission that new measures submitted this week would help bring its growing budget deficit in line with EU fiscal rules. EUR/USD inched up while GBP/USD continued its slide with both pairs reversing currently. The Stoxx Europe 600 index ended 0.1% higher. Germany’s DAX 30 gained 0.1% to 12629.90. France’s CAC 40 slipped 0.03% and UK’s FTSE 100 slid 0.1% to 7603.58.
Asian stock indices are mostly rising today. Nikkei rose 0.2% to 21746.38 as yen resumed its slide against the dollar. Chinese shares are gaining as markets await resumption of US-China talks and Beijing said tariffs on Chinese goods must be completely removed if a deal is reached: the Shanghai Composite Index is up 0.19% while Hong Kong’s Hang Seng Index is 0.1% lower. Australia’s All Ordinaries Index rose another 0.5% with Australian dollar’s decline against the greenback intact.
Brent futures prices are extending losses today. Prices fell yesterday: September Brent crude lost 0.8% to $63.26 a barrel on Thursday.
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