Top daily news
Global equities advance continues today after China’s Foreign Minister Wang Yi’s warning Sunday that some US officials are pushing relations “to the brink of so-called ‘new Cold War’ “, endangering global peace. Investors’ risk appetite was buoyed by President Trump’s announcement he is “not going to close the country” to prevent the spread of a potential second wave of COVID-19.
Forex news
| Currency Pair | Change |
|
EUR USD |
-0.07% |
| GBP USD | -0.63% |
| USD JPY | +0.01% |
Dollar strengthening continues today . 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, gained 0.3% Friday. GBP/USD and EUR/USD continued falling Friday and are lower currently as German statistics office Destatis confirmed the German economy contracted 2.2% in the first quarter compared with the previous quarter. Data showed Friday UK retail sales fell by a record 18%. USD/JPY joined AUD/USD’s continued sliding on Friday, but has reversed higher currently after news the government was considering a fresh stimulus package worth over $929 billion. Australian dollar’s slide against the dollar is intact.
Stock Market news
| Indices | Change |
| Dow Jones Index | +0.32% |
| Nikkei Index | +1.85% |
| Hang Seng Index | -1.16% |
| Australian Stock Index | +0.83% |
US equity markets are closed today for Memorial Day. Stock indexes in US ended essentially unchanged on Friday while recording solid weekly gains: the three main US stock indexes recorded daily returns ranging from -0.03% to +0.4%. European stock indexes are extending gains currently with British markets shut for public holiday. Asian indexes are mostly rising today led by Australia’s All Ordinaries ASX 200 Index, which jumped 2.2%. Chinese stocks are mixed with Hong Kong’s Hang Seng index down after the US Commerce Department on Friday added 33 Chinese companies and other institutions to a blacklist for human rights violations.
Commodity Market news
| Commodities | Change |
| Brent Crude Oil | -1.41% |
| WTI Crude | +0.21% |
Brent is extending losses today. Oil prices ended lower last session as China’s top economic official said at National People’s Congress on Friday that the country won’t set a growth target for 2020, vowing to spend more to repair economic damage from the coronavirus outbreak. Prices fell despite Baker Hughes report on Friday that the number of active US rigs drilling for oil dropped by 21 to 237 last week, the tenth consecutive drop in a row. The US oil benchmark West Texas Intermediate (WTI) futures ended lower Friday: July WTI fell 2% but is rising currently. July Brent crude closed 2.6% lower at $35.13 a barrel on Friday, booking a 8.1% gain for the week.
Gold Market News
| Metals | Change |
| Gold | -0.38% |
Gold prices are retracing lower today. June gold added 0.7% to $1735.50 an ounce on Friday.
Want to get more free analytics? Open Demo Account now to get daily news and analytical materials.
This overview has an informative character and is not financial advice or a recommendation. IFCMarkets. Corp. under any circumstances is not liable for any action taken by someone else after reading this article.
Recommended Content
Editors’ Picks
AUD/USD: A tough barrier remains around 0.6800
AUD/USD failed to maintain the earlier surpass of the 0.6800 barrier, eventually succumbing to the late rebound in the Greenback following the Fed’s decision to lower its interest rates by50 bps.
EUR/USD still targets the 2024 peaks around 1.1200
EUR/USD added to Tuesday’s losses after the post-FOMC rebound in the US Dollar prompted the pair to give away earlier gains to three-week highs in the 1.1185-1.1190 band.
Gold surrenders gains and drops to weekly lows near $2,550
Gold prices reverses the initial uptick to record highs around the $$2,600 per ounce troy, coming under renewed downside pressure and revisiting the $2,550 zone amidst the late recovery in the US Dollar.
Ethereum could rally to $2,817 following Fed's 50 bps rate cut
Ethereum (ETH) is trading above $2,330 on Wednesday as the market is recovering following the Federal Reserve's (Fed) decision to cut interest rates by 50 basis points. Meanwhile, Ethereum exchange-traded funds (ETF) recorded $15.1 million in outflows.
UK CPI set to grow at stable 2.2% in August ahead of BoE meeting
The United Kingdom Office for National Statistics will release August Consumer Price Index figures on Wednesday. Inflation, as measured by the CPI, is one of the main factors on which the Bank of England bases its monetary policy decision, meaning the data is considered a major mover of the Pound Sterling.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.