It was a busy week for the global financial markets. A Dollar bounce back on Friday, driven by economic divergence, delivered a first weekly gain in 4-weeks.
It was a mixed week for the European majors. While corporate earnings delivered support, economic data disappointed to leave the DAX30 and EuroStoxx600 in the red.
Meanwhile, WTI oil is trying to settle below $63.50.
Dovish Fed and President Bidens spending plans boost markets.
The worlds worst Covid-19 outbreak in India risks fanning price pressures, threatening to limit options for the inflation-focused central bank to support the economy.
Chilean President Sebastian Pinera will sign into law a bill allowing billions of dollars in early pension withdrawals after the Constitutional Court threw out his bid to block the proposal.
President Joe Biden has selected Celeste Drake, a longtime trade expert from AFL-CIO, to be the first director of his initiative to steer more federal dollars to U.S. manufacturers and producers, an administration official said.
Last week saw EUR/USD break above 1.20 for the first time since early March; now it will likely pause for breath before possibly strengthening further.
(Reuters) -Johnson & Johnson beat expectations for quarterly revenue and profit and raised dividend payouts to shareholders on Tuesday, while reporting $100 million in sales for its COVID-19 vaccine, whose use was paused by U.S. regulators last week.
(Reuters) – Deployments of facial recognition from Israeli startup AnyVision show how the surveillance software has gained adoption across the United States even as regulatory and ethical debates about it rage.
LONDON (Reuters) -Associated British Foods reported a halving in first half profit after COVID-19 lockdowns shuttered its Primark fashion stores but said it saw record sales when they reopened.
PARIS (Reuters) -Danone on Tuesday stuck to its goal of returning to profitable growth in the second half of 2021 after posting a 3.3% fall in first quarter sales, as COVID-19 lockdowns continued to dent its bottled water and baby food sales.
Wholesale inflation figures from Germany point to a further pickup in inflationary pressure going into the second quarter, which was aligned with recent PMI survey responses.
GBP/USD is testing the support level at 1.3745.
The US dollar has pulled back a bit during the trading session on Thursday, as we are below the ¥109 level.
Gold is 0.2% lower this morning, as it is trading within a relatively small daily range. What about the other precious metals？
Industrial production figures from the Eurozone lead to a pullback but not enough to give up early gains. Next up, ECB President Lagarde…
The direction of the June Comex gold market on Wednesday is likely to be determined by trader reaction to $1746.90.
The direction of the AUD/USD on Wednesday is likely to be determined by trader reaction to the short-term 50% level at .7691.
The US Inflation data once again beat expectations and brings anxiety to the market, slacking the US Dollar index.
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