• Latest
  • Trending
  • All
US retail sales jumped by 17.7% unexpectedly, fueling expectations of a more robust recovery from the coronavirus crisis

Stocks stay afloat amid recovery hopes

June 17, 2020 05:03
Equities struggle amid economic and China-related concerns

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
Dollar lacks upside momentum due to lower Treasury yields

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
Stocks gain, dollar eases ahead of job market data

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
Dollar lacks upside momentum due to lower Treasury yields

Dollar tries to shrug off the pressure

December 26, 2022 05:13
Investors spooked by strong US data

Investors spooked by strong US data

December 23, 2022 11:55
Dollar lacks upside momentum due to lower Treasury yields

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
Risk demand reemerges cautiously, but caution remains in place

Risk demand reemerges cautiously, but caution remains in place

December 21, 2022 08:49
Dollar lacks upside momentum due to lower Treasury yields

US dollar resists selling pressure

December 20, 2022 10:44
Market sentiment dented by recession fears

Market sentiment dented by recession fears

December 19, 2022 02:53
Dollar lacks upside momentum due to lower Treasury yields

Greenback stays on the defensive nearly across the board

November 16, 2022 05:34
Investor sentiment improves, but gains limited

Investor sentiment improves, but gains limited

November 15, 2022 05:46
Dollar lacks upside momentum due to lower Treasury yields

Dollar licks wounds after plunge

November 14, 2022 05:05
  • Terms & Сonditions
  • Contact
Wednesday, March 22, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
No Result
View All Result

Home » Stocks stay afloat amid recovery hopes

Stocks stay afloat amid recovery hopes

US retail sales jumped by 17.7% unexpectedly, fueling expectations of a more robust recovery from the coronavirus crisis

by Stephen Soo
June 17, 2020 05:03
in Fundamental analysis
0
US retail sales jumped by 17.7% unexpectedly, fueling expectations of a more robust recovery from the coronavirus crisis

Wall Street stocks edged higher overnight as investors were inspired by better-than-expected US retail sales data that fueled expectations for the economic recovery. Retail sales jumped by 17.7% unexpectedly after a strong May jobs report. Also, Federal Reserve Chair Jerome Powell vowed to maintain aggressive stimulus efforts in light of the hit from coronavirus shutdowns. As a result, the Dow Jones Industrial Average climbed 2.04%, the S&P 500 rose by 1.90%, and the Nasdaq Composite Index advanced 1.75%.

Asian equities were mixed but mostly higher on Wednesday after the International Monetary Fund warned that the global economy is set to see a more significant contraction than it previously forecast. The fund also said that the current crisis is “unlike anything the world has seen before.” Japan’s Nikkei 225 finished 0.56% lower after the report showed that Japan’s exports plunged over 28% year-on-year in May. Overall, the MSCI Asia ex-Japan index was 0.34% higher.

In Europe, stock markets extended gains at the start of trading on Wednesday, driven by recovery hopes that help to overshadow virus-related concerns and rising geopolitical tensions. Elsewhere, according to the German government document, Brexit negotiations only to enter their “hot phase” in September. Also, Germany reportedly said to ban large events until end-October at least.

Meanwhile, major currency pairs are little changed today as traders keep a cautious tone after a spike in short-term volatility witnessed on Tuesday. 
EURUSD remains above the 1.12 handle but struggles to regain the upside impetus, being capped by the 1.1250 intermediate resistance. GBPUSD stays nearly flat despite a series of weaker-than-expected inflation data out of the UK. The pair is still stuck in a limited range between the 100- and 200-DMAs. 

Elsewhere, oil prices extend gains for a fourth day in a row. Brent crude exceeded the $41 handle in recent trading, and it looks like the market will preserve the bullish bias in the short term while market focus is shifting to the EIA report due later today. A daily close above $41 will confirm the latest breakout. 

Tags: BRENTBrexitDOW JONESEURUSDFederal ReserveGBPUSDJerome PowellNasdaqNikkeiOil
Share3Tweet2
ADVERTISEMENT
Stephen Soo

Stephen Soo

Stephen's specialty is fundamental analysis. He graduated from the Booth School of Business, the University of Chicago. Stephen currently cooperates with several news agencies, and on FWNews he publishes macroeconomic news and reviews on brokerage companies.

Related Posts

Equities struggle amid economic and China-related concerns
Fundamental analysis

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
16
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
12
Stocks gain, dollar eases ahead of job market data
Fundamental analysis

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
12
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar tries to shrug off the pressure

December 26, 2022 05:13
12
Investors spooked by strong US data
Fundamental analysis

Investors spooked by strong US data

December 23, 2022 11:55
11
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
16

Leave Your Opinion Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Pound corrects higher due to dollar weakness

Greenback erases losses at the end of the week

February 12, 2021 05:31
16
Euro struggles below three-month highs, yen demand persists

Aussie loses ground further, cable at five-week lows

May 14, 2020 10:18
14
Stocks mostly higher, dollar pares losses

Stocks mostly higher, dollar pares losses

May 26, 2021 05:39
16

Ads

Shneider Electric

Most Popular

A slow start to the week in FX markets
Technical analysis

Dollar regains ground to start the week

January 25, 2021 07:25
118
A slow start to the week in FX markets
Technical analysis

Greenback advances modestly amid strong data

May 28, 2021 07:38
110
Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war
News

Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war

July 28, 2020 08:29
95
FWNews

Copyright © 2022 FWNews

  • Terms & Сonditions
  • Contact
No Result
View All Result
  • FUNDAMENTALS
  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage

Copyright © 2022 FWNews