By IFCMarkets
Top daily news
Global stocks are mixed today after a sell off on Thursday as markets were spooked by Fed chair Powell’s warning US faces ‘long road’ to recovery. Positive data like rising producer prices and another decline in initial jobless claims weren’t sufficient to offset the damage to investor confidence caused by Fed’s dour outlook on recovery.
Forex news
| Currency Pair | Change |
| EUR USD | -0.1% |
| USD JPY | +0.33% |
| USD CHF | -0.01% |
The Dollar strengthening halted today ahead of University of Michigan consumer sentiment report. 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, jumped 0.7% Thursday after reports initial jobless claims rose below-expected 1.54 million last week while producer prices recorded first increase in four months in May. Both
GBP/USD and
EUR/USD reversed their climbing yesterday but both are higher currently.
AUD/USD joined
USD/JPY’s continued sliding yesterday with both pairs higher currently.
Stock Market news
| Indices | Change |
| Dow Jones Index | +0.85% |
| Nikkei Index | -1.63% |
| GB 100 Index | +1.42% |
| Australian Stock Index | +0.92% |
Futures on three main US stock indexes are retracing higher currently after a plunge Thursday led by energy shares. The three main US stock indexes recorded losses ranging from 5.3% to 6.9%. European stock indexes are rebounding today after ending sharply lower Thursday led by auto stocks. Asian indexes are mostly lower today led by Australia’s All Ordinaries ASX 200 Index.
Commodity Market news
| Commodities | Change |
| Brent Crude Oil | -0.11% |
| WTI Crude | -1.74% |
Brent is extending losses today. Oil prices sank yesterday after Energy Information Administration report Wednesday that US crude inventories rose by 5.7 million barrels. The US oil benchmark
West Texas Intermediate (WTI) futures ended solidly lower yesterday:
July WTI tumbled 8.2% and is lower currently.
August Brent crude closed 7.6% lower at $38.55 a barrel on Thursday.
Gold Market News
Gold prices are edging lower today . August rose 1.1% to $1739.80 an ounce on Thursday.
Market Analysis provided by IFCMarkets
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