• Latest
  • Trending
  • All
German June flash manufacturing PMI came in at 44.6 versus 42.5 expected

Stocks rally, euro on the verge of a breakout

June 23, 2020 04:42
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 rally, euro on the verge of a breakout

Stocks rally, euro on the verge of a breakout

German June flash manufacturing PMI came in at 44.6 versus 42.5 expected

by Stephen Soo
June 23, 2020 04:42
in Fundamental analysis
0
German June flash manufacturing PMI came in at 44.6 versus 42.5 expected

US stocks finished higher overnight, reversing earlier losses suffered amid the comments by White House trade adviser Peter Navarro suggesting the U.S. trade deal with China was in trouble. Later, President Donald Trump tweeted that the agreement with China was fully intact, which brought relief to investors. As a result, the S&P 500 rose 0.6% after initially sliding 0.6%. The Dow Jones Industrial Average picked up 0.6%, and the Nasdaq Composite climbed 1.1%, extending its winning streak to a seventh day.

In Asia, shares rebounded on Tuesday after Donald Trump assured the markets that the U.S.-China trade pact was fully intact. However, in the longer run, U.S.-China tensions could escalate in the run-up to the U.S. elections. MSCI’s broadest index of Asia Pacific shares outside of Japan rose 0.6%. Hong Kong’s Hang Seng rose 1%, South Korea’s Kospi index added 0.3% while Japan’s Nikkei jumped 0.8%.

European stocks opened higher today despite a surge of coronavirus cases in several countries and some concerns over the state of the U.S.-China trade deal. Financial services, industrials, and tech stocks each climbing more than 1%. On the data front, France June flash services PMI arrived at 50.3 versus 45.2 expected. In Germany, June flash manufacturing PMI came in at 44.6 versus 42.5 expected. Better-than-expected headline numbers gave some lift to the euro. Following the data, EURUSD jumped to the 1.13 barrier which remains the key hurdle for bulls. If the buying pressure persists, this level may turn into support by the end of the day. 

Elsewhere, Brent crude climbed to fresh early-March highs in recent trading. The futures exceeded the $43 handle and extended gains to the $43.30 area, buoyed by positive risk sentiment in the global financial markets. Also, the prices are supported by a weaker dollar. If a break above $43 is confirmed, Brent crude may target the $45 handle in the days to come. On the downside, the immediate support now arrives at $42.  

Tags: BRENTDonald TrumpDOW JONESEURUSDNasdaqNikkeiOil
Share2Tweet2
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

Dollar off highs but stays elevated

February 25, 2022 07:09
12
Stocks in a sea of red, euro extends the retreat

Stocks in a sea of red, euro extends the retreat

April 24, 2020 07:49
16
Stocks mostly higher, dollar still under pressure

Short-lived risk rally abates, dollar demand reemerges

September 29, 2022 06:10
20

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