Asia Morning: U.S. Dollar Slips, Gold Firm

,

On Friday, U.S. markets were closed in observance of Independence Day...Spot gold price remained firm at $1,775 an ounce....

Trading floor 2

On Friday, U.S. markets were closed in observance of Independence Day.

European stocks were broadly lower. The Stoxx Europe 600 Index sank 0.78%. Germany's DAX 30 declined 0.64%, France's CAC 40 fell 0.84%, and the U.K.'s FTSE 100 was down 1.33%.

Spot gold price remained firm at $1,775 an ounce.

Source: GAIN Capital, TradingView


Brent crude oil futures (September) settled 1.0% lower at $42.73 a barrel.

On the forex front, the ICE U.S. Dollar Index fell 0.2% on day to 97.17.

EUR/USD gained 0.1% to 1.1249. The eurozone's May retail sales (+15.0% on month expected) and German factory orders for May (+15.4% on month expected) will be reported later in the day.

GBP/USD edge up 0.1% to 1.2485. Later today, the Markit U.K. Construction PMI for June will be released (46.0 expected).

USD/JPY was flat at 107.51.

USD/CAD slipped 0.1% to 1.3547. The Bank of Canada's Overall Business Outlook Index for the second quarter will be reported later today (-0.7 in the first quarter).

Other commodity-linked currencies were broadly higher against the greenback. AUD/USD climbed 0.3% to 0.6942 and NZD/USD advanced 0.4% to 0.6535, both up for a fourth straight session. China's Caixin Services PMI rose to 58.4 in June (53.2 expected) from 55.0 in May.


More from Commodities

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.