Todays’ market summary

  • The Dollar strengthening has resumed currently.

  • Futures on three main US stock indexes are down.

  • Brent is falling today with President Biden expected to call for a temporary suspension of the 18.4 cents a gallon federal tax on gasoline.

  • Gold prices are extending losses.

Top daily news

Stock markets are lower today after US stocks finished solidly higher on Tuesday. Alphabet shares rallied 4.11% outperforming market amid news Google resolved French copyright dispute over online content and has dropped its appeal against a 500 million euro ($528 million) fine, Microsoft stock rose 2.46%  as the IT giant said it would stop selling technology that guesses someone's emotion based on a facial image and would no longer provide access to facial recognition technology.

Forex news

Currency Pair Change
EUR USD -0.08%
GBP USD -0.41%
USD JPY -0.95%
AUD USD -0.48%

 

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, added 0.1% Tuesday despite National Association of Realtors report existing-home sales retreated for the fourth consecutive month in May - falling 8.6% over year.

Both EUR/USD and GBP/USD continued advancing yesterday despite European Central Bank report euro zone’s current account deficit increased to €6 billion in April, up from €2 billion in previous month. USD/JPY accelerated its climbing Tuesday while AUD/USD continued its advancing with yen higher against the Greenback currently and Australian dollar lower.

Stock market news

Indices Change
Dow Jones Index -0.46%
Nikkei Index -0.76%
Hang Seng Index -2.27%
Australian Stock Index -0.23%

 

Futures on three main US stock indexes are down currently ahead of Federal Reserve chair Powell’s testimony to Congress at 15:30 CET today. The yield on benchmark 10-year US notes edged down to 3.262% currently. Stock indexes in US ended higher on Tuesday: the three main US stock indexes posted daily gains ranging from 2.2% to 2.5%.

European stock indexes are down currently after a bullish session on Tuesday with auto shares leading gains. Asian indexes are mostly lower today with Hong Kong’s Hang Seng index leading losses.

Commodity market news

Commodities Change
Brent Crude Oil -4.63%
WTI Crude -5.62%

 

Brent is falling today with President Biden expected to call for a temporary suspension of the 18.4 cents a gallon federal tax on gasoline. Oil prices ended higher on Tuesday. The US oil benchmark West Texas Intermediate (WTI) added 1 % but is lower currently. Brent rose 0.5% to $114.65 a barrel.

Gold market news

Metals Change
Gold Gold

 

Gold prices are extending losses today. Spot gold lost 0.32% to $1,832.44 an ounce on Tuesday.


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