By IFCMarkets
Top daily news
Global markets are mostly advancing currently ahead of US Labor department report expected to indicate the total number of US unemployed hit 33 million. The bullish sentiment was boosted by unexpected rise in China’s exports in April.
Forex news
| Currency Pair | Change |
| EUR USD | -0.05% |
| GBP USD | -0.55% |
| USD JPY | -0.76% |
| AUD USD | +0.46% |
The Dollar strengthening has reversed today ahead of expectations data will show 33 million Americans likely sought unemployment benefits over the last seven weeks. 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 0.4% Wednesday. It is lower currently as US Treasury said it would borrow $2.999 trillion during the June quarter, five times more than the previous single-quarter record. Both
GBP/USD and
EUR/USD continued sliding yesterday with both pairs higher currently. Pound got a boost after Bank of England kept the policy steady and stated UK demand has generally stabilized at very low levels in recent weeks.
USD/JPY continues falling while
AUD/USD has resumed declining.
Stock Market news
| Indices | Change |
| Dow Jones Index | +0.99% |
| Nikkei Index | +0.98% |
| Hang Seng Index | +0.32% |
| Australian Stock Index | +0.38% |
Futures on three main US stock indexes are higher currently after mixed session on Wednesday. The earnings season continues with companies including Verizon, Bristol-Myers Squibb and AMD scheduled to report quarterly results today. Stock indexes in US ended mixed on Wednesday : the three main US stock indexes recorded returns ranging from -0.9% to +0.5% with technology shares leading Nasdaq’s advance. European stock indexes are advancing currently following a pullback Wednesday after the European Commission forecast euro-zone economy will contract 7.4% this year in worst economic shock since 1930s. Asian indexes are mixed today. Shanghai Composite is ahead after gaining 0.5% as the General Administration of Customs reported China’s exports rose unexpectedly 3.5% in April from a year earlier, after falling 6.6% in March.
Commodity Market news
| Commodities | Change |
| Brent Crude Oil | -0.14% |
| WTI Crude | +1.25% |
Brent is extending losses today following the US Energy Information Administration report Wednesday that US crude oil inventories rose a slightly lower than expected 4.6 million barrels last week, the 15th consecutive weekly rise. The US oil benchmark
West Texas Intermediate (WTI) futures retreated yesterday:
June WTI lost 2.3% snapping a five-session streak of gains and is falling currently.
July Brent crude closed 4% lower at $29.72 a barrel on Wednesday.
Gold Market News
| Metals | Change |
| Gold | +0.56% |
Gold prices are rebounding today. June gold lost 1.3% to $1688.50 an ounce on Wednesday.
Market Analysis provided by IFCMarkets
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