MARKET WRAP: Stocks and Gold Moved Lower; Dollar Up

Fundamental analysis of Forex market

Investors kept their focus on trade talk and Brexit chaos. Sterling remained in free fall and there are strong chances of another referendum

Stocks

  • The S&P 500 Index dropped 0.58% as 14:50 London time.
  • The Stoxx Europe 600 Index decreased by 0.63%.
  • The MSCI All-Country World Index fell 0.5%.
  • The U.K.’s FTSE 100 Index dipped 0.33%.

Currencies

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  • The Dollar Spot Index jumped 0.1% hitting the highest level in nearly 21 weeks.
  • The Euro remained below the level of 1.12 and dropped by 0.06%.
  • The British pound continued its declined and dropped 0.4% to $1.2745, the lowest point in four months.
  • The Japanese yen jumped 0.5% to 109.84 per dollar.

Bonds

  • The yield on 10-year Treasuries dropped three basis points to 2.39%, touching the lowest level in seven weeks.
  • Germany’s 10-year yield dipped three basis points to -0.12%.
  • Britain’s 10-year yield plunged by five basis points to 1.033%,

Commodities

  • West Texas crude moved higher by 0.49% to $63.17 a barrel, the highest in more than two weeks.
  • Gold dropped 0.51% to $1,279 an ounce.

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