Dow logs longest win streak in more than a year

Dmitry Lukashov IFC Markets

Dollar weakening reverses

US stock market rebound continued on Monday led by technology stocks. The S&P 500 gained 0.5% to 2886.73. Dow Jones industrial added 0.3% to 26062.68. The Nasdaq composite rose 1.1% to 7823.17. The dollar turned higher yesterday: 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 0.2% to 96.768 and is higher currently. Futures on US stock indices point to higher openings today.

FTSE 100 top performer among European indexes

European stocks extended gains on Monday. Both EUR/USD and GBP/USD turned lower with euro higher currently while Pound continues falling. The Stoxx Europe 600 index added 0.2% led by basic resources shares. The DAX 30was closed yesterday. France’s CAC 40 added 0.3%. UK’s FTSE 100 advanced 0.6% to 7375.54 despite data showing Britain’s economy sharply contracted in April due to the biggest fall in car production since records began.

Shanghai Composite leads Asian indexes rebound

Asian stock indices are rising today despite fresh threats from President Donald Trump to raise tariffs on imports from China. Nikkei closed 0.3% higher at 21204.28 with yen yen slide against the dollar accelerating. Markets in China are gaining: the Shanghai Composite Index is up 2.6% and Hong Kong’s Hang Seng Index is 0.8% higher. Australia’s All Ordinaries Index rallied 1.6% as Australian dollar continued sliding against the greenback.

Brent up

Brent futures prices are edging higher today bolstered by expectations that major crude oil producers and OPEC will keep withholding supply. Prices fell yesterday: August Brent crude lost 1.6% to $62.29 a barrel on Monday.

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Author

Dmitry Lukashov

IFC Markets

Dimtry Lukashov is the senior analyst of IFC Markets. He started his professional career in the financial market as a trader interested in stocks and obligations.

EUR/USD extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.

GBP/USD hits three-day peaks, targets 1.3700

GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.

Gold picks up pace, retargets $5,100

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XRP struggles around $1.40 despite institutional inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.