Top daily news
Forex news
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.
Stock Market news
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.
Commodity Market news
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 Market News
Gold prices are edging up today. Prices ended marginally lower on Friday: spot gold slid 0.21% to $1706.70 an ounce.