By IFCMarkets
Top daily news
Global equities advance today despite escalating US-China tensions as economies reopen all over world. Investors’ risk appetite was buoyed Friday by President Trump’s announcement he would quit World Health Organization and revoke Hong Kong’s economic privileges, but abstained from imposing new tariffs on China.
Forex news
| Currency Pair | Change |
| EUR USD | +0.19% |
| GBP USD | +0.97% |
| USD JPY | -0.17% |
The Dollar weakening is accelerating 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, lost 0.15% Friday as Fed chair Powell said risks to growth and inflation remain tilted to the downside.
GBP/USD and
EUR/USD continued climbing Friday and are higher currently.
USD/JPY joined
AUD/USD’s continued climbing on Friday but has reversed lower currently after news Japanese firms raised spending on plant and equipment in the first quarter. Australian dollar’s climb against the dollar is intact.
Stock Market news
| Indices | Change |
| Dow Jones Index | -0.53% |
| Nikkei Index | +0.95% |
| Australian Stock Index | +1.51% |
US equity markets are rising today after ending mixed on Friday. Few companies are scheduled to report quarterly results today including UnitedHealth. Stock indexes in US ended mixed on Friday while recording solid weekly gains: the three main US stock indexes recorded daily returns ranging from -0.06% to +1.3% while booking weekly gains ranging from 1.8% to 3.8%. European stock indexes are rising currently after a pullback on Friday after European Union Trade Commissioner told Thursday that the bloc was willing to move forward when Brexit negotiations with the UK resume next week. Asian indexes are rising today led by with Hong Kong’s Hang Seng index which jumped 3.4%. Mainland Chinese stocks are higher after China’s official manufacturing purchasing managers index and the private Caixin China manufacturing purchasing managers index both showed factory activity still expanding in May.
Commodity Market news
| Commodities | Change |
| Brent Crude Oil | +0.51% |
| WTI Crude | +0.15% |
Brent is extending gains today. Oil prices ended higher last session as President Trump did not withdraw from the US-China phase one trade deal despite rising tensions. Prices rose after Baker Hughes report on Friday that the number of active US rigs drilling for oil dropped by 15 to 222 last week, the eleventh consecutive drop in a row. The US oil benchmark
West Texas Intermediate (WTI) futures ended higher Friday:
July WTI rose 5.3% but is down currently.
August Brent crude closed 5% higher at $37.84 a barrel on Friday.
Gold Market News
| Metals | Change |
| Gold | +0.35% |
Gold prices are retracing lower today. August gold gained 1.4% to $1751.70 an ounce on Friday.
Market Analysis provided by IFCMarkets
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