Global stocks retreat after rebound in previous session
Todays’ market summary
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The Dollar weakening has halted.
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Futures on three main US stock indexes are down.
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Brent is edging lower currently as an agreement on Russian oil imports ban still escapes European Union though German economy minister says he expects EU embargo on Russian oil 'within days'.
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Gold prices are edging up currently.
Top daily news
Equities are pointing down currently as US Treasury yields inch down while markets rebounded on Monday. Amazon slipped 0.03% amid reports it is planning to sublease some of its warehouse space because the pandemic-fueled surge in online shopping has slowed, Microsoft shares rose 3.2% outperforming market on Monday.
Forex news
| Currency Pair | Change |
| EUR USD | -0.32% |
| GBP USD | -0.04% |
| USD JPY | +0.37% |
| AUD USD | -0.36% |
The Dollar weakening has halted 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 0.5% on Monday.
EUR/USD joined GBP/USD’s continuing climbing Monday while the Ifo institute reported German business sentiment continued to improve in May. Both pairs are down currently. AUD/USD resumed its advancing yesterday while USD/JPY continued its climbing with the yen higher against the Greenback currently and Australian dollar retreating.
Stock market news
| Indices | Change |
| Dow Jones Index | -0.59% |
| Nikkei Index | -1.14% |
| Hang Seng Index | -1.62% |
| Australian Stock Index | -0.58% |
Futures on three main US stock indexes are down currently ahead of U.S. manufacturing purchasing managers survey report at 15:45 CET with the yield on benchmark 10-year Treasury notes inching down to 2.841%. US stock market reversed the selloff yesterday as President Biden said that he was considering easing tariffs on China. The three main US stock index benchmarks booked daily gains in the range of 1.6% to 2.0% Monday led by mega-cap growth shares.
European stock indexes are down currently after closing up Monday led by banking and mining shares while European Central Bank President Christine Lagarde surprised markets by stating about possible rate hike as early as July. Asian indexes are falling today with Hong Kong’s Hang Seng index leading losses while Markit reported Japan's manufacturing activity grew at the slowest pace in three months in May.
Commodity market news
| Commodities | Change |
| Brent Crude Oil | -0.52% |
| WTI Crude | -1.31% |
Brent is edging lower currently as an agreement on Russian oil imports ban still escapes European Union though German economy minister says he expects EU embargo on Russian oil 'within days'. Prices advanced marginally yesterday. US West Texas Intermediate WTI added 0.01% but is lower currently. Brent gained 0.7% to $113.42 a barrel on Monday.
Gold market news
| Metals | Change |
| Gold | +0.15% |
Gold prices are edging up currently. Spot gold yesterday closed up 0.39% at $1852.74 an ounce 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.
