Top daily news
Equity markets are retreating currently with US data expected to yet again show over million more Americans sought unemployment benefits the last week while new applications declined. Stocks fell yesterday on the Fed projection the US economy would shrink 6.5% in 2020 while Powell said the economic recovery will be “a long road.”
Forex news
| Currency Pair | Change |
| EUR USD | +0.24% |
| GBP USD | +3.3% |
| USD JPY | -0.11% |
The Dollar strengthening has resumed today ahead of a Labor Department report expected to show over 44 million Americans likely sought unemployment benefits over the last twelve 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, lost 0.3% Wednesday as Fed chair Powell said interest rates would stay at near zero until 2022 while asset purchases continue, and US consumer price index fell 0.1% over month in May. EUR/USD and GBP/USD continued climbing yesterday but both pairs are down currently.
USD/JPY continued falling yesterday while
AUD/USD reversed up with both pairs lower currently.
Stock Market news
| Indices | Change |
| Dow Jones Index | -1.53% |
| Nikkei Index | -1.71% |
| Hang Seng Index | -2.01% |
| Australian Stock Index | -3.01% |
Futures on three main US stock indexes are sharply down after a mixed trading on Wednesday. Stock indexes in US ended mostly lower on Wednesday while technology stocks as Treasury Secretary Mnuchin told the Senate Small Business and Entrepreneurship Committee that more fiscal stimulus may be needed. The three main US stock indexes recorded returns ranging from -1.0% to +0.7%.
European stock indexes are down currently following a two-session-in-a-row retreat Wednesday led by travel and leisure shares.
Asian indexes are falling today led by Australia’s
All Ordinaries ASX 200 .
Commodity Market news
| Commodities | Change |
| WTI Crude | -2.09% |
Brent is edging lower today. Prices rose Wednesday despite the US Energy Information Administration report that US crude oil inventories rose 5.7 million barrels last week after two consecutive weekly declines. The US oil benchmark
West Texas Intermediate (WTI) futures rose:
July WTI added 1.7% but is falling currently.
August Brent crude closed 1.3% higher at $41.73 a barrel on Wednesday.
Gold Market News
Gold prices are retracing higher today. August gold lost 0.7% to $1720.70 an ounce on Wednesday.
