By IFCMarkets
Top daily news
Global markets are mixed currently ahead of US Labor department report that could indicate total number of US unemployed topped 25 million. While investors’ confidence was buoyed by China’s commerce ministry statement China and US should strive to reduce uncertain factors in trade relations, traders are concerned US data will show 26 million Americans likely sought unemployment benefits over the last five weeks.
Forex news
| Currency Pair | Change |
| EUR USD | +0.31% |
| GBP USD | +0.15% |
| USD JPY | -0.1% |
The Dollar strengthening is intact today despite expectations of dismal unemployment claims and manufacturing PMI reporrts. 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, rose 0.14% Wednesday and is higher currently. The
GBP/USD reversed sliding yesterday while
EUR/USD accelerated declining with both pairs’ dynamics intact currently, while
USD/JPY ended flat but is higher currently together with
AUD/USD.
Stock Market news
| Indices | Change |
| Dow Jones Index | +0.41% |
| Nikkei Index | +0.44% |
| Hang Seng Index | -0.34% |
| US Dollar Index | +0.17% |
Futures on three main US stock indexes are higher currently after rebound yesterday prompted by stabilizing global oil market. Treasury Secretary Steven Mnuchin said he was looking forward to having most of the US economy open later in the summer. Earnings season continues with companies including Johnson & Johnson, Intel and Pfizer slated to report quarterly results today. Stock indexes in US recovered on Wednesday after Senate passed Tuesday another coronavirus relief package worth nearly $500 billion to replenish funds for small businesses. The three main US stock indexes recorded gains ranging from 2.0% to 2.8%. European stock indexes rebounded too but are lower currently. Asian indexes are mixed today: NIKKEI closed up 1.5% on bargain hunting.
Commodity Market news
| Commodities | Change |
| Brent Crude Oil | +3.73% |
| WTI Crude | +5.76% |
Brent is extending gains today after rebound on Wednesday despite Energy Information Administration report that US crude inventories rose 15 million barrels last week. Th US oil benchmark
West Texas Intermediate (WTI) futures jumped yesterday after President Trump’s tweet he had “instructed the United States Navy to shoot down and destroy any and all Iranian gunboats if they harass our ships at sea :”
June WTI rallied 19.1% and is rising currently.
June Brent crude closed 5.4% higher at $20.37 a barrel on Wednesday.
Gold Market News
Gold prices are extending gains today. June gold gained 3% to $1783.30 an ounce on Wednesday.
Market Analysis provided by IFCMarkets
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