Trading mixed in cautious trading - 1.7.2020

The Dollar weakening 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, slid 0.1% Monday after ISM-Chicago report Chicago area business activity contraction continued at above-expected rate while the Case-Shiller house price index rose 4% on an annual basis in April. GBP/USD reversed its falling Monday despite data showing Britain's economy shrank by the most since 1979 in the first quarter of 2020 while EUR/USD reversed its climbing despite report euro-zone’s inflation ticked up in June when a decline was expected. Both pairs are lower currently. Both USD/JPY and AUD/USD continued their climbing yesterday with both yen and Australian dollar higher against the greenback currently.

Futures on three main US stock indexes are mixed currently ahead of ADP Non-farm employment change report later today. Stock indexes in US posted back to back gains Tuesday as Fed chair Powell pledged to keep doing whatever it takes to support the US economy : the three main US stock indexes posted gains ranging from 0.8% to 1.5%. European stock indexes are edging lower currently after a rebound on Tuesday. Asian indexes are mostly extending gains today except for Nikkei as Caixin reported China's factory activity expanded at a faster pace in June

Brent is rebounding today. Oil prices ended lower on Tuesday. The American Petroleum Institute reported late Tuesday US crude supplies fell by more than 8 million barrels last week. The US oil benchmark West Texas Intermediate (WTI) for August fell 1.1% Tuesday. September Brent crude lost 1.3% to $41.15 a barrel.