Top daily news
Global markets are rising currently ahead of US Labor department report expected to indicate the total number of US unemployed hit 30 million. The bullish sentiment was boosted Wednesday by Federal Reserve chair Powel’s assurance the central bank stood by to do whatever necessary to support the economy.
Forex news
| Currency Pair | Change |
| EUR USD | +0.02% |
| GBP USD | +0.01% |
| USD JPY | +0.08% |
| AUD USD | -0.29% |
The Dollar weakening is intact today ahead of expectations data will show 30 million Americans likely sought unemployment benefits over the last six weeks. 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, fell 0.46% Wednesday as Fed chair Powell said the central bank will broaden a key support program for credit markets. It is lower currently. Both GBP/USD and EUR/USD reversed sliding yesterday with euros’ dynamics intact currently while Pound is lower against dollar.
USD/JPY continues falling while
AUD/USD has resumed declining.
Stock Market news
| Indices | Change |
| Dow Jones Index | +0.18% |
| Nikkei Index | +4.01% |
| Hang Seng Index | +0.21% |
| US Dollar Index | -0.01% |
Futures on three main US stock indexes are higher currently after rally on Wednesday supported also by US health administrator telling Gilead coronavirus trial drug was 'quite good news.' The earnings season continues with companies including Apple, Amazon and Goldman Sachs scheduled to report quarterly results today. Stock indexes in US ended sharply higher on Wednesday despite bigger than expected GDP decline - at 4.8% annual rate in Q1, the biggest drop since 2008. The three main US stock indexes recorded gains ranging from 2.2% to 3.6% led by technology shares.
European stock indexes extended gains and are higher currently ahead of the European Central Bank meeting today. The ECB is expected to discuss expanding stimulus but no big move is deemed likely until the next regular meeting on June 4. Asian indexes are rising today:
Australia’s All Ordinaries Index is ahead after jumping 2.4%.
Commodity Market news
| Commodities | Change |
| Brent Crude Oil | +5.48% |
| WTI Crude | +9.13% |
Brent is extending gains today following rebound on Wednesday after Energy Information Administration report that US crude inventories rose a slightly lower than expected 9 million barrels last week, the 14th consecutive weekly rise. The US oil benchmark
West Texas Intermediate (WTI) futures jumped yesterday:
June WTI rallied 22% and is rising currently.
June Brent crude closed 10.2% higher at $22.54 a barrel on Wednesday.
Gold Market News
Gold prices are rebounding today. June gold lost 0.5% to $1713.40 an ounce on Wednesday.
