EQUITIES
S&P 500 Index : $3,044.31, gain 14.58 points or 0.48%
Dow Jones Industrial Average : $25,383.11, down -17.53 points or -0.07%
Nasdaq Composite Index : $9,489.87, gain 120.88 points or 1.29%
European exchanges closed trading on red, with London's FTSE 100 loss -2.29%, Germany's DAX down -1.65%, and France's CAC dropped -1.59%. Italy's FTSE MIB Index closed -0.84% lower and pan-European Stoxx 600 index decreased -1.44% closed Friday.
Asian share markets started on a cautious note, with Japan's Nikkei 225 up 0.61%, Hong Kong's Hang Seng down -0.74%, China's Shanghai Composite up 0.22% and Singapore’s dropped -0.18%. Meanwhile, shares in Australia traded lower, as the S&P/ASX 200 decreased -0.42%, while South Korea’s KOSPI gain 0.88% in early trading.
OIL
Brent crude futures ended the session higher on Friday at $35.29 per barrel, a rise of 5.02%, while WTI crude futures rose 5.28%, at $35.49 per barrel.
Currently, oil prices traded higher in the morning of Asian trading hours, with Brent is trading at $37.50, while WTI is trading at $35.10 as of writing time.
CURRENCIES
The U.S. dollar index, which tracks the greenback against a basket of its peers, last traded at 98.16 after declining from levels above 100 last week.
Dollar mostly depreciated against other currencies, including MXN (-0.42%), NZD (-0.37%), AUD (-0.35%), GBP (-0.30%), RUB (-0.22%), CAD (-0.21%), SGD (-0.15%), EUR (-0.14%), DKK (-0.13%), SEK (-0.08%), NOK (-0.07%), and CHF (-0.05%) at latest reading.
GOLD
Gold currently trading at $1,735.60 per ounce, while stands around $1,752.00 per ounce for gold futures as of writing time. Previously closed at $1,728.70 and $1,751.70, respectively.
Silver trading at $18.06, platinum trading at $822.00 and palladium trading at $1,861.00.
ECONOMIC OUTLOOK
Stocks in Asia Pacific were mixed in Monday morning trade as a Chinese data release over the weekend showed the country’s factory activity expanding in May.
Dollars slip on early Monday. The decline was suspected to be influenced by unrest and issuance of statewide state of emergency in several cities in U.S, coupled by Sino-U.S. tensions.
European stocks are expected to open lower Monday as protests continue across the U.S.
Germany is working on a stimulus package worth 75 billion-80 billion euros ($83 billion-$89 billion) to support economic recovery.
Japan’s factory activity shrank at the fastest pace since March 2009.
South Korea’s manufacturing activity shrank at the sharpest pace in more than a decade in May.
To date, number of confirmed worldwide cases for COVID-19 pandemic has now reached more than 6,264,000 today affecting 213 countries and territories around the world and 2 international conveyances, recording more than 374,000 fatality globally.
TECHNICAL OUTLOOK
[USDJPY]
Our Preference:
- Short positions below 107.706, with target at 107.588 and at extension of 107.493.
Commentary/ Reason:
- The price of the dollar has reached a strong level of resistance, meaning that the currency will not grow further.
- The MACD is below its signal line and negative. The configuration is negative.
- The pair is trading below its 200 Moving Average.
- The RSI is below its neutrality area of 50.
