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Market Wrap: Stocks Slips Again , Safe Haven Jump

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Fundamental analysis of Forex market

The Dollar index and the Japanese Yen are back in demand as stocks moves lower.

Stocks

  •   The S&P 500 Index dropped 0.3 percent as of 15:30  London  time.
  •   The Stoxx Europe 600 Index fell 0.3 percent on the back of disaapointing economic data.
  •   The MSCI All-Country World Index dipped 0.1 percent, risk off theme remain intact
  •    The MSCI Emerging Market Index lost another 0.3 percent.

Currencies

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  • The Dollar Spot Index back in demand and jumped 0.05 percent to the highest in more than a week.
  • The euro has gained due to the inflation number and jumped 0.45 percent to $1.1395, the strongest point in more than a week.
  • The Japanese yen acting like a safe haven jumped 0.2 percent to 108.79 per dollar.
  • The British pound looks strong after May’s victory and gained 0.2 percent to $1.2905, the highest in two months.
  • The MSCI Emerging Markets Currency Index fell 0.3 percent to the lowest in more than a week

Bonds

  • The yield on 10-year Treasuries eased off more than one basis point to 2.71 percent.
  • Germany’s 10-year yield dropped one basis point to 0.22 percent.
  • Britain’s 10-year yield fell one basis point to 1.301 percent.
  • The spread of Italy’s 10-year bonds over Germany’s dropped two basis points to 2.508 percentage points to the narrowest in more than two weeks.

Commodities

  • West Texas Intermediate crude is out of luck and dropped 2 percent to $51.28 a barrel.
  • LME copper cant find demand and fell  0.4 percent to $5,947.50 per metric ton.
  • Gold shockingly isn’t picking up the momentum either and fell  0.05 percent to $1,293.08 an ounce.

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