Dollar falls on durable goods orders decline
US stock market ended marginally higher on Friday in thin trading after back to back losses. The S&P 500 added 0.1% to 2826.06, extending losses 1.2% for the week. Dow Jones industrial rose 0.4% to 25585.69. The Nasdaq gained 0.1% to 7637.01. The dollar weakening continued as orders for durable goods fell a below expected 2.1% in April. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.3% to 97.552 but is higher currently. US markets are closed today for Memorial Day holiday.
CAC 40 outperforms European indexes
European stocks recovered some of previous session losses on Friday. The GBP/USD joined EUR/USD’s climb with Pound higher currently while euro resumed sliding. The Stoxx Europe 600 Index recovered 0.6% Friday led by mining stocks. The DAX 30 added 0.5% to 12011.04. France’s CAC 40 rose 0.67% and UK’s FTSE 100 gained 0.65% to 7277.73 as Prime Minister Theresa May announced that she would resign as party leader on June 7.
Shanghai Composite leads Asian indexes gains
Asian stock indices are mixed today. Nikkei gained 0.3% to 21182.58 as President Trump met with Prime MInister Abe to discuss trade and other world issues after meeting Japan’s new emperor, Naruhito, while yen’s decline against the dollar resumed. China’s markets are mixed: the Shanghai Composite Index is up 1.4% while Hong Kong’s Hang Seng Index is 0.2% lower. Australia’s All Ordinaries Index slipped 0.06% with the Australian dollar little changed against the greenback.
Brent down
Brent futures prices are pulling back today. Prices ended higher on Friday : Brent for July settlement added 1.4% to close at $68.69 a barrel Friday, falling 4.9% for the week.