Todays’ Market Summary
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The Dollar strengthening is intact
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Futures on US equity benchmarks are down
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Brent is edging down today while the price of US gasoline averaged more than $5 a gallon for the first time on Saturday.
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Gold prices are edging down today
Top daily news
Equity indexes are pointing down currently after Wall Street selloff deepened on Friday after another red-hot inflation report. Microsoft shares sank 4.46% underperforming market, Alphabet shares lost 3.2% on Friday while United Kingdom’s antitrust watchdog announced it will probe suspected breaches of competition law in Google’s rules over in-app payments in its mobile store in the UK .
Forex news
| Currency Pair | Change |
|---|---|
| EUR USD | -0.3% |
| GBP USD | -0.4% |
| USD JPY | +0.07% |
| AUD USD | -0.18% |
The Dollar strengthening is intact 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, jumped 0.7% on Friday as the Bureau of Labor Statistics reported US consumer price index jumped 8.6% compared to May 2021.
Both EUR/USD and GBP/USD continued their sliding Friday. Both Pound and euro are lower against the Dollar currently. AUD/USD slowed its sliding while USD/JPY ended little changed Friday with both yen and the Australian dollar lower against the Greenback currently.
Stock Market news
| Indices | Change |
|---|---|
| Dow Jones Index | -0.84% |
| Nikkei Index | -1.51% |
| Hang Seng Index | -1.57% |
| Australian Stock Index | -4.4% |
Futures on US equity benchmarks are down currently after US stocks tumbled on Friday following stronger than feared inflation report while the University of Michigan consumer sentiment index, which measures how American consumers feel about the economy, personal finance and business and buying conditions, fell sharply to its lowest recorded value. The three main US stock benchmarks recorded daily losses ranging from 2.7% to 3.5%.
European stock indexes are down currently after ending lower on Friday led by bank shares. Asian indexes are falling today led by Australia’s ASX 200 index .
Commodity Market news
| Commodities | Change |
|---|---|
| WTI Crude | -1.4% |
Brent is edging down today while the price of US gasoline averaged more than $5 a gallon for the first time on Saturday. Oil prices ended lower on Friday while parts of Shanghai imposed new lockdown restrictions and the city announced a round of mass testing for millions of residents. West Texas Intermediate (WTI) futures lost 0.7% and is lower currently. Brent crude fell 0.8% to $122.01 a barrel on Friday.
Gold Market News
| Metals | Change |
|---|---|
| Gold | -0.6% |
Gold prices are edging down today. Prices ended higher on Friday: spot gold rose 1.25% to $1870.90 an ounce.