Equities rebound intact as Biden signs stimulus bill
Top daily news
Equity markets are rising currently after President Biden signed the $1.9 trillion US stimulus bill into law, though Treasury yields retrace higher currently. Apple shares added 1.65% Thursday, Tesla jumped 4.72% outperforming markets.
Forex news
| Currency Pair | Change |
| EUR USD | -1.79% |
| GBP USD | -0.06% |
| USD JPY | 0.43% |
| AUD USD | -2.05% |
The Dollar strengthening has resumed currently. 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 0.4% Thursday despite US Labor Department report 712 thousand Americans sought unemployment benefits over the last week, down from 754 thousand the previous week.
Both GBP/USD and EUR/USD accelerated their climbing Thursday as the European Central Bank decided to leave its Pandemic Emergency Purchase Program, or PEPP, unchanged, at a total of 1.85 trillion euros ($2.21 trillion) due to last until March 2022. Both pairs are lower currently. USD/JPY joined AUD/USD’s accelerated climbing Thursday with both yen and Australian dollar lower against the Greenback currently.
Stock Market news
| Indices | Change |
| Dow Jones Index | 0.16% |
| GB 100 Index | -0.37% |
| Nikkei Index | 1.55% |
| Hang Seng Index | -2.54% |
| Australian Stock Index | 0.32% |
Futures on three main US stock indexes are mixed currently ahead of Producer Price Index report at 14:30 CET today. Wall Street ended solidly higher yesterday as US Treasury 10-year yield fell to 1.475% overnight, its first breach below 1.5% in a week following a better-than-expected US 30-year government bond auction. The three main US stock benchmarks recorded daily gains ranging from 0.6% to 2.5%, led by technology shares.
European stock indexes are mixed today after closing higher Thursday led by tech shares as European Central Bank vowed to increase its weekly bond buying amid rising borrowing costs on the continent. Asian indexes are mostly higher today with Hang Seng leading losses as China’s legislature endorsed a plan to more tightly control Hong Kong elections.
Commodity Market news
| Commodities | Change |
| Brent Crude Oil | -0.37% |
| WTI Crude | -0.63% |
Brent is edging lower today. Oil prices jumped yesterday as the Organization of the Petroleum Exporting Countries said in a monthly report demand will rise by 5.89 million barrels per day (bpd) in 2021, or 6.5%, while the cartel cut its forecasts for the first half of the year. The US oil benchmark West Texas Intermediate (WTI) futures gained 2.5% but is lower currently. May Brent crude surged 2.6% to $69.63 a barrel on Thursday.
Gold Market News
| Metals | Change |
| Gold | -0.61% |
Gold prices are edging lower today. April gold settled less than 0.1% higher at $1722.60 an ounce on Thursday, its third straight rise as US dollar retreated.
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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.
