09.06.21 Market Review

PlusMarkets AnalysisJune 9, 2021

World stocks near record high, U.S. bond yields near 1-month low

World stock prices held near record highs on Wednesday, while U.S. bond yields flirted with their lowest levels in a month, as investors bet the Federal Reserve is some way off from tapering its economic stimulus.
MSCI’s all-country world index last stood at 716.55, after hitting an intraday high of 718.19 on Tuesday, led by gains in Europe.
European stocks are expected to open almost flat, with Euro Stoxx futures up 0.1% and Britain’s FTSE futures down 0.1% in early trade. In Asia, the MSCI’s broadest index of Asia-Pacific shares outside Japan ticked down 0.20% and Japan’s Nikkei average shed 0.28%.
On Wall Street on Tuesday, the S&P500 was steady and near its record high.

https://www.investing.com/news/economy/world-stocks-near-record-high-us-bond-yields-near-1month-low-2526964

https://www.investing.com/indices/us-spx-500-chart




Oil prices climb on signs of strong fuel demand recovery

Oil prices rose for a second session on Wednesday on signs of strong fuel demand in western economies, while the prospect of Iranian supplies returning faded as the U.S. secretary of state said sanctions against Tehran were unlikely to be lifted.
Brent crude futures were up 32 cents, or 0.4%, at $72.54 a barrel at 0640 GMT, having earlier touched $72.83, the highest since May 20, 2019. Brent rose 1% on Tuesday.
U.S. West Texas Intermediate (WTI) crude futures climbed 31 cents, or 0.4%, to $70.36 a barrel, after rising to as high as $70.62, highest since Oct. 17, 2018. WTI prices climbed 1.2% on Tuesday.
“Improved demand outlook appears to be bolstering crude oil prices, as the successful vaccine rollouts and summer driving season in the United States and Europe continues to support fuel demand,” said Margaret Yang, a strategist at Singapore-based DailyFX.

https://www.investing.com/news/commodities-news/oil-rises-for-second-day-on-signs-of-strong-fuel-demand-recovery-2526949

https://www.investing.com/commodities/brent-oil-streaming-chart

Gold Up, Investors Digest Mixed China Inflation Data

Gold was up on Wednesday morning in Asia as investors digested mixed inflation data from China and waited for similar data from the U.S. on Thursday.
Gold futures edged up 0.12% to $1,896.65 by 10:11 AM ET (5:11 AM GMT). The dollar, which usually moves inversely to gold, inched up while the benchmark 10 year U.S. Treasury yields fell to their lowest in more than a month.
Data released earlier in the day showed that the Chinese consumer price index (CPI) for May contracted 0.2% month-on-month and increased 1.3% year-on-year. However, the producer price index (PPI) jumped 9% year-on-year, exceeding expectations.
Elsewhere in Asia, South Korea’s unemployment rate rose 3.8% in May, slightly higher than April’s 3.7% growth.
In the U.S., JOLTs job openings in April increased to 9.286 million, higher than both the 8.3 million figures in forecasts prepared by Investing.com and March’s 8.288 million.

https://www.investing.com/news/commodities-news/gold-up-investors-digest-mixed-china-inflation-data-2527008

https://www.investing.com/commodities/gold-streaming-chart

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. UR Trade Fix Ltd accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Past performance does not constitute a reliable indicator of future results and future forecasts do not constitute a reliable indicator of future performance.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organizational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests when providing our services

Risk disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please read our Risk Disclosure for more details.

Regional Restrictions: For more information on where the Company provides its services, click here

Risk disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.