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Market Wrap: Stocks, Bonds, Commodities |
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On Monday, the U.S. stock market was closed for the Memorial Day holiday.
Meanwhile, stock futures advanced nearly 1% and oil prices came under pressure after U.S. President Donald Trump said talks with Iran were proceeding nicely.
In Europe, the DAX 40 rose 2.01%, and the CAC 40 gained 1.76%. The U.K. market was closed for a public holiday on Monday.
Also, Japan’s Nikkei 225 extended its rally to a third session on Monday, gaining 2.87% to 65,157, a record closing level.
In early Asian trading hours on Tuesday, U.S. WTI crude futures tumbled 6.00 dollars (-6.20%) to 90.61 dollars a barrel. Japan’s Nikkei reported that the U.S. and Iran may agree to reopen the Strait of Hormuz about 30 days after the two countries reach a deal to end hostilities.
Gold price traded at levels around 4,560 dollars an ounce.
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The U.S. dollar remained dragged by the prospect of a U.S.-Iran peace deal, with the dollar index testing support at the level of 99.00.
EUR/USD continued to trade at elevated levels around 1.1642.
USD/JPY has retreated to levels below 159.00.
GBP/USD managed to cross above 1.3500, and AUD/USD was above 0.7170.
USD/CHF marked its fourth straight losing session on Monday, trading at 0.7827.
Meanwhile, Bitcoin has regained the level of 77,000 dollars.
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In Asian trading hours, EUR/USD eased to 1.1634 and GBP/USD retreated to 1.3485.
Meanwhile, USD/JPY was little changed at 158.97.
Gold fell to 4,534 dollars.
Bitcoin slipped to 76,586 dollars.
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In the U.S., the Conference Board consumer confidence index is expected to slip to 92.0 in May, while the Dallas Fed manufacturing index is estimated to improve to -1.0.
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