The US stocks lifted after positive earnings results overnight. The Dow Jones index rose by 0.9% or 318 points to a record closing high, while the Nasdaq and S&P 500 lifted by 0.4% and 0.8% respectively. The Asia stock market is set for a muted start amid warnings from the Federal Reserve on stretched valuations in the US share market on positive economic data.
US longer-term yields were steady on Thursday. US 10-year yields fell by 1 point to near 1.57% as investors largely shrugged off better-than-expected initial jobless claims data. Meanwhile, US 2-year yields were flat near 0.16%.
According to ZERO Markets’ MetaTrader 5 platform, the US dollar edged lower on Thursday against major currencies. EUR/USD rose from lows near 1.2 to highs around $1.2067. AUD/USD rose from lows near $0.7734 to highs around $0.778.
Commodity trading on Thursday saw global oil prices fell by 0.1%. Brent crude fell 1.3% to $US 68.09 a barrel.
Precious metals, gold rose by $31.4 to near $US1815.7 an ounce upon solid economic data and rising tensions between China and Australia. Iron ore prices jumped by 5.2% or $9.95 to an all-time high of $202.65 a tonne upon fresh demand from Chinese investors.
Key events this week:
- US April Employment Data (Friday)
ZERO Markets is a globally regulated broker that provides next-gen technology, pricing, and execution performance. It provides educational material, economic calendar, and 24/5 multilingual customer support services. Start trading with ZERO on tight spreads from 0.0 pips today!
Leave a Reply