Stay 
Trading Conditions
Products
Tools
US stocks slipped a bit, after growing rather strongly in the past two days. Dow Jones fell 0.2%, while S&P 500 lost 0.1%. Meanwhile, Nasdaq retained growth, but increased by only 0.1%.
As for the Asian markets, China indices increased 0.1%, while Japan indices stayed the same.
The oil market also grew, gaining as much as 0.4%, thanks to the latest data on oil reserves. Now, Brent is trading above $ 75, at approximately $ 75.40.
Meanwhile, despite the boom in the real estate market, new home sales in US declined in May, recording only 770,000. Perhaps, the 24% increase in prices had a negative impact on sales.
Retail sales may also plunge, as sales in Canada already slipped by as much as 5.7%.
But for Europe, economic recovery is still strong, as evidenced by the latest data from Germany. The reports released on Wednesday showed that manufacturing PMI was at 64.9 points in June, while service PMI was at 58.1 points. Both figures were well above the forecasts of analysts.
With regards to the epidemiological situation, the total number of new COVID-19 infections rose again to more than 400,000. Brazil recorded an increase to 114,000, while US listed 13,000. Colombia and Argentina also noted 30,000 new cases on Wednesday. In UK, Prime Minister Boris Johnson called for an emergency meeting, after incidence jumped again to 16,000 because of the new strain of coronavirus.
Going back to the US market, S&P 500 is at 4.241 points, but is projected to range at 4.200 - 4.280 points today. Investors are awaiting upcoming US data, more specifically the reports on orders for durable goods, and jobless claims. But tech stocks may come under pressure amid antitrust laws proposed in the US Congress.
As for the USD index, which currently values 91.70 points, a decline to 91.50 is possible. But there is also a chance that it will close at 92.00 points. Growth will halt until there is new data on inflation.
For USD/CAD, the loonie is again experiencing pressure amid the rise in oil prices. Hence, from the current 1.2290, it may fluctuate around 1.2230 - 2.2350 today.
Conclusion: Investors are waiting for the upcoming US data. If they post strong gains, there may be a new wave of growth in the US market.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
