The Dollar weakening is intact
Futures on US equity benchmarks are up
Brent is edging up today with China lockdowns concerns as COVID cases rise capping gains.
Gold prices are edging up today
Equity indexes are rising currently after US stocks ended sharply higher on Friday following strong retail sales report. Google shares rose 1.28% underperforming market amid reports indexing issue affected a large number of sites preventing traffic displaying from Google for new content sites published, Amazon shares jumped 2.64% on reports the company plans further 4,000 UK jobs despite global slowdown.
The Dollar weakening 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, slid 0.5% on Friday.
Both EUR/USD and GBP/USD reversed their sliding Friday despite data showing the euro area recorded a €26.3 billion deficit in trade in goods with the rest of the world in May 2022, compared with a surplus of €12.0 billion in May 2021. Both Pound and euro are higher against the Dollar currently. AUD/USD reversed its retreating Friday and USD/JPY reversed its climbing with both the Australian dollar and yen higher against the Greenback currently.
|Dow Jones Index||+0.57%|
|GB 100 Index||+0.55%|
|Hang Seng Index||+2.32%|
|Australian Stock Index||+0.98%|
Futures on US equity benchmarks are up currently after US stocks rallied on Friday following University of Michigan preliminary report consumers’ inflation expectations slipped lower for July. The three main US stock benchmarks recorded daily gains ranging from 1.8% to 2.2%.
European stock indexes futures are higher currently after ending solidly up on Friday with auto shares leading gainers. Asian indexes futures are rising today led by Hong Kong’s Hang Seng Index with Japan’s markets closed for a holiday.
|Brent Crude Oil||+2.93%|
Brent is edging up today with China lockdowns concerns as COVID cases rise capping gains. Oil prices ended higher on Friday as Saudi ministers insisted that oil policy decisions would be taken according to market conditions and that OPEC+ would continue to assess market conditions and do what is necessary. Energy services firm Baker Hughes reported US active oil rig count rose by two to 599 last week, its highest since March 2020. West Texas Intermediate (WTI) futures gained 2% but is lower currently. Brent crude rose 2.3% to $107.02 a barrel on Friday.
Gold prices are edging up today. Prices ended marginally lower on Friday: spot gold slid 0.21% to $1706.70 an ounce.