Markets mixed after Thursday rebound - 26.6.2020

The Dollar strengthening continues today ahead of US inflation and personal spending reports. 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 0.2% Thursday as US Census Bureau reported durabl;e goods orders rose above expected 15.8% over month in May. Both GBP/USD and EUR/USD continued their sliding yesterday despite GfK report German consumer confidence continued to recover in June. Both pairs are lower currently. AUD/USD joined USD/JPY’s continued climbing yesterday with yen higher currently against the greenback while Australian dollar is down.

Futures on three main US stock indexes are edging lower currently after a choppy trading Thursday. The three main US stock indexes rebounded ahead of Fed release of the results of its bank stress tests, recording gains ranging from 1.1% to 1.2% led by banking stocks. US Senate passed a legislation that would impose mandatory sanctions on people or companies that back efforts by China to restrict Hong Kong’s autonomy, that has to pass the House and be signed by President Trump. European stock indexes are retreating today after ending higher Thursday. Asian indexes are mostly higher today led by Australia’s All Ordinaries ASX 200 Index .

Brent is extending gains today. Oil prices advanced yesterday buoyed by White House Economic Advisor Larry Kudlow comment the US was not going to shut the economy down despite reports of rising coronavirus cases. The US oil benchmark West Texas Intermediate (WTI) futures ended solidly higher yesterday: August WTI rose 1.9% and is higher currently. August Brent crude closed 1.8% higher at $41.05 a barrel on Thursday.