Bullet Report: Stock Markets Party Like Its 1999

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Another day, One more stock market record as US equities climbed to brand-new highs. Focus today will certainly turn to the US retail sales which is the essential news event this week. Likewise EU industrial production for June will certainly be released.

Currencies: USDJPY rallied overnight since it is directly correlated along with the stock market’s performance. The pair climbed to 102.20 supported by the stock market rally which led to all 3 major US indexes climb to record highs. EURUSD trades in a range while GBPUSD was under tension between 1.2950 and 1.2975. AUD/USD followed a similar path and fell from 0.77 in the early Asian session to a reasonable of 0.7670. Overall the USD is little changed though as markets and traders are cautious ahead of the important US retail sales report data.

Stocks: Asian stocks closed higher overnight, propelled by the gains seen in Wall Street. DJIA closed up 117.86 pts, or 0.64%, at 18613.52. S&P 500 closed up 10.30 pts, or 0.47%, at 2185.79. Nasdaq closed up 23.82 pts, or 0.46%, at 5228.40. this was the very first time since all 3 indices closed at record highs on the same day since 1999. The gains were supported by weekly jobless claims, which pointed to continued reasonable levels of layoffs, while both import and export prices inched up despite a decline in fuel costs, suggesting a possible pickup in inflation.

Oil and Gold: Crude oil prices jumped after a drop the previous day and settled 4.3% at $43.40 as Saudi Arabia’s energy minister Khalid al-Falih said in a statement late on Thursday that oil producers would certainly discuss potential action to stabilize oil prices during a meeting next month in Algeria. Gold on the other hand was under tension once again, as the rising stock markets attract more funds from investors that had tied funds in the yellow currency.

The information Bullet Report: Stock Markets Party Like Its 1999 appeared very first on Forex.Info.

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