Bullet Report: US Stocks Rebound | Gold Rallies

Posted On 30 Aug 2016

Yesterday’s UK Holiday kept the markets somewhat calm. JPY was the weakest major currency yesterday due to the expectation of Bank of Japan easing in the near term while the US dollar continues to strengthen against the majors. Looking ahead, UK will release mortgage approvals and M4, US will release consumer confidence during US session later in today.

Currencies: The Canadian dollar weakened to a two-week low against its U.S. counterpart on Monday as oil fell, although it pared some losses as investors reduced bets for a U.S. interest rate hike as soon as September. AUDUSD and NZDUSD have also been well contained and capped by yen demand.

Stocks: The Dow Jones Industrial Average climbed 107.59 points, or 0.6%, to 18502.99. The S&P 500 rose 11.34 points, or 0.5%, to 2180.38, its biggest gain since Aug. 5. The Nasdaq Composite added 13.41 points, or 0.3%, to 5232.33.

Oil and Gold: Crude Oil prices are ranging. Investors anticipate a possible output freeze due at next month’s informal OPEC meeting. Gold futures on Monday staged a modest rebound after suffering their largest weekly decline since mid-July.

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