Markets rise in respite from recent selloff - 21.6.2022

Senior Analyst

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Todays’ Market Summary

The Dollar weakening is intact
Futures on three main US stock indexes are up
Gold prices are edging down currently

Top daily news

Equity indexes are pointing up currently ahead of US market reopening today. Renault shares jumped 9.7% after Jefferies upgraded the French automaker’s stock to “buy” from “hold”, Deutsche Lufthansa AG shares rallied 7.62% on Monday.

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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, lost 0.2% on Monday.

Both EUR/USD and GBP/USD reversed their retreating Monday as the federal statistics department Destatis reported German manufacturing prices rose 33.6% over-year in May, their largest increase on record. Both pairs are up currently. AUD/USD joined USD/JPY’s continued advancing Monday with both the yen and Australian dollar higher against the Greenback currently.

Stock Market news

Futures on three main US stock indexes are up currently ahead of existing home sales report today 16:00 CET with the yield on benchmark 10-year Treasury notes inching up to 3.282%. US markets were closed yesterday for a holiday. The three benchmark indexes recorded weekly losses ranging from 4.8% to 5.8% last Friday.

European stock indexes are rising currently after closing up Monday led by banking shares. Asian indexes are advancing today with Japan’s Nikkei index leading gains.

Commodity Market news

Brent is up currently. Prices edged up yesterday. US West Texas Intermediate (WTI) added 0.6% and is higher currently. Brent gained 0.9% to $114.13 a barrel on Monday.