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Markets update: Global markets were mixed on July 5th despite a quiet US due to the holiday. Asian stocks lacked direction, European futures pointed to a calm start, UK election results met expectations, currencies fluctuated, oil prices rose slightly, gold surged, and investors eyed upcoming data releases.
Economic Calendar
Global Markets Roundup: 5 July 2024
APAC stocks traded mixed on Friday, July 5, 2024, as markets lacked direction from the US due to the Independence Day holiday. The UK election exit polls provided no surprises, with results confirming a Labour Party majority as anticipated.
The DXY briefly dipped below 105 amid subdued macroeconomic news ahead of the Nonfarm Payrolls (NFP) report. The GBPUSD pair remained flat within a narrow range of 1.2755-1.2772, while USDJPY fell below 161.00, experiencing early pressure heading into the Tokyo fix. The euro EURUSD jumped to $1.0817. The Australian dollar AUDUSD edged to a six-month high of $0.6739.Â
Japan's Nikkei NI225 and broader Topix TOPIX both jumped to record levels, before retreating slightly. European equity futures suggest a calm start, with Euro Stoxx 50 futures up 0.1% after the cash market closed 0.4% higher. FTSE 100 futures also edged up 0.2%.
In commodities and agricultural commodities, Brent crude futures BRN1! traded 0.13% higher, at $87.54 a barrel. U.S. West Texas Intermediate (WTI) crude futures CL1! edeged 0.29% up to $84.12. Spot gold GOLD jumped 0.4% to $2,364.87 per ounce. The Palm oil contract for September delivery on the BMDE FCPO1! was trading 0.44% lower to 4,049 ringgit ($860.39) a metric ton.
Looking ahead, markets anticipate key events include German Industrial Output, Italian Retail Sales, Eurozone Retail Sales, US and Canadian Jobs Reports.
General news - Information source from multiple newswires.
The article and the data is for general information use only, not advice!
The Trade Academy Team