Markets in retreat after mixed trading on Wall Street overnight

July 10, 2020

By IFCMarkets

Top daily news

Equity markets are in red currently after a mixed session Thursday. US markets ended mostly lower yesterday after Labor Department data showed that 1.3 million Americans filed for first-time unemployment benefits last week.

Forex news

Currency Pair Change
EUR USD -0.5%
GBP USD +1.2%
USD JPY -0.36%
The Dollar strengthening is intact today ahead of inflation report scheduled for 16:30 CET 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, added 0.3% Thursday as US Labor Department data showed 1.3 million Americans filed for first-time unemployment benefits when 1.4 new applications were expected. Both GBP/USD and EUR/USD reversed their climbing yesterday despite Germany’s statistics office report euro-zone’s largest economy’s trade surplus rose more than expected in May. AUD/USD joined USD/JPY’s continued sliding yesterday with both pairs lower currently.

Stock Market news

Indices Change
Dow Jones Index -0.77%
GB 100 Index -0.92%
Nikkei Index -1.21%
Hang Seng Index -1.99%
Futures on three main US stock indexes are edging lower currently after ending mixed Thursday after 7-2 Supreme Court decision ruling that a New York prosecutor could have access to President Donald Trump’s tax returns. The three main US stock indexes recorded returns ranging from -1.4% to 0.5% as data showed 32.9 million Americans were receiving unemployment benefits in the third week of June. European stock indexes are pulling back today after ending higher Thursday. Asian indexes are all lower today led by Heng Seng as China’s regulators cracked down on margin financing and state funds said they would reduce equity holdings.

Commodity Market news

Commodities Change
Brent Crude Oil -1.1%
WTI Crude -1.18%
Brent is edging lower today. Oil prices fell yesterday after Energy Information Administration reported that US crude inventories rose by 5.7 million barrels for the week ended July 3. The US oil benchmark West Texas Intermediate (WTI) futures ended lower yesterday: August WTI fell 3.1% and is lower currently. August Brent crude closed 2.2% higher at $42.35 a barrel on Thursday.

Gold Market News

Metals Change
Gold -0.06%
Gold prices are extending losses today . August gold ended 0.9% lower at $1803.80 an ounce on Thursday.

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