Top daily news
Equities futures are mostly up currently after Wall Street ended mixed on Friday despite strong US manufacturing data. Apple shares lost 1.5% while chief executive Tim Cook defended the company in a trial brought by video game developer Epic Games which claims Apple monopoly through its "walled garden " squeezes app makers, Bitcoin fell 13% on Sunday and currently is around $35,208 hurt in part by China’s crackdown on mining and trading of the largest cryptocurrency with price down about 50% from its all-time high.
Forex news
| Currency Pair | Change |
| EUR USD | +0.54% |
| GBP USD | +0.09% |
| USD JPY | -0.18% |
| AUD USD | +0.28% |
The Dollar strengthening has halted 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, gained 0.3% on Friday as Markit reported US manufacturing PMI rose to 61.5 in May from 60.5 in April. Readings above 50.0 indicate industry expansion, below indicate contraction.
Both EUR/USD and GBP/USD reversed their climbing Friday despite the Markit report private sector business growth in the euro-zone hit its fastest pace for more than three years. Both pairs are higher currently. Both AUD/USD and USD/JPY reversed their climbing Friday with both Australian dollar and yen higher against the Greenback currently.
Stock market news
| Indices | Change |
| Dow Jones Index | +0.17% |
| Nikkei Index | +0.64% |
| Hang Seng Index | +0.04% |
| Australian Stock Index | +0.35% |
Futures on US equity benchmarks are higher currently ahead of Federal Reserve Board Governor Lael Brainard’s online speech on digital currencies at the virtual Conference by CoinDesk Consensus at 15:00 CET today. The three main US stock benchmarks recorded daily returns ranging from -0.5% to 0.4% Friday with SP500 posting its first back-to-back weekly losses since February amid continued inflation fears and positive global growth expectations.
European stock futures are up currently after ending higher on Friday led by auto shares. European exchanges are mostly closed today for Whit Monday. Asian indexes are mostly higher today with Shanghai Composite leading gains.
Commodity market news
| Commodities | Change |
| Brent Crude Oil | +1.27% |
| WTI Crude | +0.94% |
Brent is rising currently after Iran officials said nuclear inspection deal has expired while talks continue. Prices advanced on Friday after three consecutive daily losses, driven higher as a storm formed in the Gulf of Mexico. West Texas Intermediate (WTI) futures gained 2.6% and is higher currently. July Brent crude added 2% to $66.36 a barrel on Friday.
Gold market news
| Metals | Change |
| Gold | +0.05% |
| Silver/US Dollar | +0.64% |
Gold prices are edging higher today. June gold lost 0.3% settling at $1876.70 on Friday, halting a streak of six consecutive daily gains. However, it posted a third weekly climb rising 2.1% for the week.
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Editors’ Picks
EUR/USD treads water just above 1.0400 post-US data
Another sign of the good health of the US economy came in response to firm flash US Manufacturing and Services PMIs, which in turn reinforced further the already strong performance of the US Dollar, relegating EUR/USD to the 1.0400 neighbourhood on Friday.
GBP/USD remains depressed near 1.2520 on stronger Dollar
Poor results from the UK docket kept the British pound on the back foot on Thursday, hovering around the low-1.2500s in a context of generalized weakness in the risk-linked galaxy vs. another outstanding day in the Greenback.
Gold keeps the bid bias unchanged near $2,700
Persistent safe haven demand continues to prop up the march north in Gold prices so far on Friday, hitting new two-week tops past the key $2,700 mark per troy ounce despite extra strength in the Greenback and mixed US yields.
Geopolitics back on the radar
Rising tensions between Russia and Ukraine caused renewed unease in the markets this week. Putin signed an amendment to Russian nuclear doctrine, which allows Russia to use nuclear weapons for retaliating against strikes carried out with conventional weapons.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
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