Rebound continues after a bounce on Wall Street overnight - 30.6.2020

The 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, added 0.02% Monday after the National Association of Realtors report pending home sales in May jumped 44.3% over the month, though still down 5.1% against the same time last year. GBP/USD continued falling Monday while EUR/USD continued rising as euro-zone’s economic sentiment improved in June. Both pairs are lower currently. Both USD/JPY and AUD/USD reversed their sliding yesterday with both yen and Australian dollar lower against the greenback currently.

Futures on three main US stock indexes are mixed currently ahead of speeches by Federal Reserve Bank of New York President Williams and Governor Brainard later today. Stock indexes in the US rebounded Monday: the three main US stock indexes posted gains ranging from 1.2% to 2.3%. European stock indexes  are edging lower currently after a rebound on Monday led by bank shares. Asian indexes are recovering today led by Australia’s All Ordinaries ASX 200 Index as activities in both China’s manufacturing and services sectors continued expanding in June.

Brent is edging lower today. Oil prices ended higher on Monday against the background of signs of improving global oil demand as economies reopened as evidenced by the rise in industrial profits in China for May. The US oil benchmark West Texas Intermediate (WTI) for August rose 3.1% Monday. August Brent crude climbed 1.7% to $41.71 a barrel on Monday.