Global stocks venture up on China rebound hopes - 27.6.2023

Senior Analytical Expert

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Todays’ Market Summary

The Dollar weakening is intact
Futures on three main US stock indexes are up
Brent is advancing currently.
Gold prices are edging higher currently

Top daily news

Global stocks are trading mostly up currently buoyed by Beijing assurances to support growth in the world’s second largest economy after Wall Street ended lower on Monday. Nvidia’s shares slumped 3.7% underperforming market despite announcement Nvidia brings its AI computing platform to cloud data firm Snowflake to allow customers ranging from financial institutions to healthcare and retail to build AI models using their own data, Meta shares fell 3.56% on Monday.

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Forex news

Currency Pair	Change
EURUSD	+0.3%
GBPUSD	+0.2%
USDJPY	-0.1%
AUDUSD	+0.3%

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, slipped 0.2% on Monday.

EUR/USD reversed its retreating on Monday while GBP/USD continued its sliding while European Central Bank Governing Council member said at least one more interest rate hike is needed to combat euro zone inflation. Both euro and Pound are higher against the dollar currently. USD/JPY reversed its climbing yesterday while AUD/USD slowed its sliding with the yen flat against the Greenback currently and Australian dollar higher as data showed Japan’s core inflation ticked up in May in line with expectations.

Stock Market news

Indices	Change
DJI	+0.3%
NIKKEI	+0.08%
HK50	+1.5%
AU200	+0.5%

Futures on three main US stock indexes are up currently with the yield on benchmark 10-year Treasury notes up at 3.727%. US stocks extended losses on Monday, with three main stock benchmarks recording daily losses in the range from 0.04% to 1.2% led by tech shares.

European stock indexes futures are higher currently after closing marginally lower on Monday with health care shares leading losses. Asian indexes futures are mostly higher today with Hong Kong’s Hang Seng index leading gains.

Commodity Market news

Commodities	Change
#C-BRENT	+0.05%
OIL	+0.06%

Brent is advancing currently. Prices ended higher on Monday on supply concerns spurred by political instability in Russia. US West Texas Intermediate WTI gained 0.3% and is higher currently. Brent rose 0.5% to $74.18 a barrel on Monday.