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European stock indices add gains
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US dollar stronger against its peers
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Better-than-expected University of Michigan report for June
European stock markets finished Friday’s session higher. The German DAX added 0.78%, the French CAC40 gained 0.83% while the British FTSE 100 was up by 0.65%. Trading has been rather mixed in the US so far. The Dow is trading slightly lower, the S&P 500 is trading flat while the Russell 2000 outperforms and gains 0.70% - to a certain extent the index is fueled by some meme stocks.
The attention is focused on the G-7 summit in Cornwall, UK. Most important headlines include a global minimum corporate tax or ending the pandemic. Today markets paid attention to a set of economic data from the UK, released in the morning European time. Industrial and manufacturing production for April came in below forecasts, while GDP figures for April were more or less in-line with expectations. UoM’s Consumer Sentiment from the US for June reached 86.4, above the consensus estimate and higher than in May. Interestingly, 1-year inflation expectations fell from 4.6% to 4.0%.
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Open account Try demo Download mobile app Download mobile appThe US dollar is recovering against its peers today. The main currency pair fell towards 1.21 level while GBPUSD reached 1.41 mark. The price of gold slides amid stronger greenback. Brent and WTI push higher after IEA data showed that global oil demand may reach pre-pandemic levels in 2022. Also, Iran nuclear talks are set to resume over the weekend.
DE30 jumped during today’s session and the index is currently testing the 15,700 pts mark. Taking a look at recent price action, one can notice that the 15,515 pts level served as a support - the area coincides with the lower limit of the Overbalance structure. Breaking above the 15,611 area helped fuel the rally today. Obviously recent all-time highs may turn out to be a strong resistance. Source: xStation5This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.