|Day's range||0.6500 - 0.6500|
|52-week range||0.3980 - 2.1480|
Stocks retreated across the world on Tuesday, ending a six-day global rally that had brought equities in the US within striking distance of positive territory for the year. The declines, which accompanied a spurt of buying of haven assets including US Treasuries and UK gilts, came as traders weighed flare-ups in coronavirus cases in several parts of the world. On Wall Street, the S&P 500 fell 1.1 per cent, with roughly four shares falling in the index for each stock that advanced.
The Federal Reserve has set a cracking pace in terms of supporting the US economy and global financial system. Policymakers have winced at the idea of negative interest rates. Capping the level of Treasury yields, also known as yield curve control, would repeat a policy the Fed last used during and after the second world war.
World stock markets fell slightly in Europe on Friday after gains in Asia, with trading somewhat subdued by a long holiday weekend in the U.S. With Wall Street remaining closed in observance of Independence Day, Germany's DAX edged 0.6% lower to 12,528.18. Markets had risen earlier in Asia as investors there got their first opportunity to react to the stronger-than-expected U.S. jobs figures released on Thursday.
Stock rose on Thursday, as investors cheered the resiliency of a U.S. economy that created nearly 5 million jobs last month in the throes of the raging coronavirus pandemic.
US employers added 4.8m new jobs in June and the unemployment rate dropped to 11.1 per cent, as the economic rebound from the initial coronavirus shock gathered pace last month before lockdowns began to be reimposed. The fall in jobless rate from 13.3 per cent in May was better than expected but was based on data collected in the second week of last month — predating a spike in infections that has hit several large US states since then and caused some authorities to restore restrictions on activity. According to the Bureau of Labor Statistics, the job gains were broad-based, with leisure and hospitality recovering 2.1m positions, retail restoring 740,000 people on payroll, and manufacturing adding 356,000 jobs.
The first half of an already tumultuous year — and one that has packed in some of the greatest hits from previous episodes of financial turbulence — is closing. For investors there is really no half-time break, let alone a Super Bowl style show such as this epic performance by Prince from a rain-swept Miami in 2007. Instead, investors are left assessing or fretting about the extent of the coming recovery in economic activity and corporate profits.
The Fed on Monday fired up its facility to directly purchase corporate bonds from the companies themselves, rounding out its ambitious bond-buying program.
Late Monday, gold is holding above the minor pivot at $1775.10 and a steep uptrending Gann angle at $1770.00.
Asian shares rose Tuesday, cheered by a rally on Wally Street reflecting some optimism over stronger than expected economic data, despite widening coronavirus outbreaks. Japan's benchmark Nikkei 225 gained 1.8% in morning trading to 22,380.02. Analysts say questions remain on how the global economy will hold up as coronavirus outbreaks expand.
Shares fell Monday in Asia, tracking losses on Wall Street as rising virus cases cause some U.S. states to backtrack on pandemic reopenings. Shares also fell in Hong Kong, Sydney, Shanghai and South Korea. Concern has deepened as the number of confirmed cases topped 10 million, with more than 500,000 reported dead from COVID-19, according to a tally by Johns Hopkins University that is believed to understate the problem due to issues with testing and a large number of asymptomatic cases.
Keep in mind that a steep sell-off in stocks combined with a sharp rise in the U.S. Dollar could actually put a cap on gold so be careful chasing rallies.
Stocks wavered between gains and losses Thursday after Texas said it was pausing its reopening process due to a renewed surge in Covid-19 infections in the state. Investors also monitored incoming economic data, with a new report showing stubbornly high levels of new unemployment claims.
Stocks fluctuated between gains and losses Monday as market participants weighed prospects that the virus-stricken economy would rebound quickly against fears over an extended rise in new cases over the weekend.
Fed Chair Jerome Powell said income inequality is "not really related to monetary policy" but Fed research suggests that inequality should be a key factor in policy decisions.
Underpinning that confidence is the force of unprecedented moves by the Federal Reserve to support the financial system and buy assets, which had propelled some stock indexes to fresh highs. "If you're a longer-term investor, you still have to like your equities exposure more than fixed-income exposure, where you basically have no upside at this point and your earnings are your paltry yield," said Troy Gayeski, Co-CIO of SkyBridge, an alternative investments firm. Following a sharp rise from March lows, The S&P 500 slumped 5.9% on Thursday, its steepest one-session loss since March 16, after renewed fears of a new wave of coronavirus infections and gloomy economic forecasts from the U.S. Federal Reserve.
The Zacks Analyst Blog Highlights: Beazer Homes USA, Atlantic Power, NextEra Energy, American States Water Company and FrancoNevada
Global equity markets bounced back on Friday as investors took in stride the U.S. Federal Reserve's outlook for a long road to recovery and bet shutdowns to fight the coronavirus pandemic were unlikely to be reinstated widely. On Thursday, the S&P 500 slumped 5.9%, its steepest one-session loss since March 16, fueled by the Fed's warning that the U.S. economy would contract by 6.5% this year. Despite those concerns, Julie Fox, a managing director for private wealth at UBS Financial Services in New York, saw room for equities to move higher.
Asian equities are set to fall sharply on Friday after Wall Street stocks and oil tumbled over growing concerns that a resurgence of coronavirus infections could stunt the pace of reopening economies. Benchmark Brent crude futures settled 7.62% lower at $38.55 a barrel in U.S. trading hours, before sliding further in Asia on Friday.
Stocks slid following the Federal Reserve’s monetary policy decision, in which policymakers highlighted the ongoing economic concerns spurred by the coronavirus pandemic and measures taken to contain it.
The Fed reiterated that the Fed funds rate would stay in the 0% to 0.25% range for the foreseeable future and confirmed continued bond-buying. The Fed may also consider yield-curve control policy.
The Fed said that it would keep its benchmark interest rate near zero to help get the economy out of the coronavirus-induced recession. Here're the big stock winners from Fed's dovish stance -
The Federal Reserve could soon renew its WWII-era policy of capping yields on U.S. government debt, as the central bank weighs its options on pinning down longer-term interest rates.
Australia’s consumer confidence surged back toward levels recorded before the COVID-19 outbreak hit the economy.