{"id":107006,"date":"2017-06-07T06:20:53","date_gmt":"2017-06-07T10:20:53","guid":{"rendered":"http:\/\/countingpips.com\/?p=107006"},"modified":"2017-06-07T06:10:01","modified_gmt":"2017-06-07T10:10:01","slug":"investors-cautious-amid-continued-political-uncertainties","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/06\/investors-cautious-amid-continued-political-uncertainties\/","title":{"rendered":"Investors cautious amid continued political uncertainties"},"content":{"rendered":"
June 7, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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US stocks retreat second session in a row<\/h2>\n<\/div>\n<\/div>\n

US stocks <\/b>continued the slide on Tuesday as political uncertainties undermined market sentiment ahead of former Federal Bureau of Investigation director Comey\u2019s testimony to the Senate on Thursday and UK general election the same day. The dollar slipped: the live dollar index<\/a> data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, ended 0.3% lower at 96.536. Dow Jones <\/em>industrial average lost 0.2% to 21136.23 led by Wal-Mart and Boeing shares. The S&P 500 <\/em>lost 0.3% settling at 2429.33 led by consumer discretionary and industrial stocks. The Nasdaq <\/a>index closed 0.3% lower at 6275.06.<\/p>\n

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The decline in Treasury yields continued yesterday on back of strong haven demand, which lifted also the price of gold and the Japanese yen. Market volatility is expected to rise in light of continued uncertainty ahead of Thursday events. Comey will testify to a Senate committee investigating alleged Russian interference in last year\u2019s presidential election. In economic news the number of job openings hit a record high in April. Today at 13:00 CET Mortgage Applications will be released in America. At 21:00 CET April consumer credit will be published, the outlook is negative for dollar.<\/p>\n<\/div>\n<\/div>\n

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Healthcare shares lead European stocks lower<\/h2>\n<\/div>\n<\/div>\n

European stock indices <\/b>extended losses on Tuesday amid cautious mood ahead of UK election and European Central Bank meeting on Thursday. The euro <\/em>and British Pound <\/em>gained against the dollar. The Stoxx Europe 600 lost 0.7%. Germany\u2019s DAX 30 <\/a>fell 1% closing at 12690.12. France\u2019s CAC 40<\/em> lost 0.7% and UK\u2019s FTSE 100 <\/em>slipped less than 0.1% to 7524.95..<\/p>\n

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Healthcare stocks led the losses with Swiss drug maker Roche among the European benchmark\u2019s biggest losers. Shares of Roche dropped 5.5% after disappointing results on company\u2019s cancer drug. US investment bank Morgan Stanley said positive catalysts for the euro-zone were beginning to fade with stronger euro weighing on exporter stocks. Spain’s troubled Banco Popular fell 6.2% to a record low after Barclays cut its price target on the stock. Today the European Commission approved the Single Resolution Board\u2019s proposal to sell Banco Popular to Santander. Banco Santander announced a 7 billion euro ($7.88 billion) rights issue, which it said would be used to “cover the capital and provisions required to strengthen Popular’s balance sheet.” German factory orders fell 2.1% on month in April, steeper than a 0.3% expected decline, German statistics office Destatis reported today. At 11:00 CET the OECD Economic Outlook will be published.<\/p>\n

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Asian stocks mixed<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are mixed today as investors are cautious against the background of heightened political uncertainty ahead of UK election and former FBI director Comey\u2019s testimony on Thursday. Nikkei <\/em>was little changed closing at 19984.62 as the yen, near a six-week high against the dollar, continued gaining. Chinese stocks are up as some companies sent notices to employees offering to buy shares telling they would compensate them in case losses occur. The Shanghai Composite Index <\/em>is up 1.2% while the Hong Kong\u2019s Hang Seng Index <\/em>is down 0.3%. Australia\u2019s All Ordinaries Index was flat as the Australian dollar continued strengthening against the greenback after Q1 GDP recorded 0.3% growth, in line with expectations.<\/p>\n

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Oil down despite expected US inventory drop<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices <\/b>are edging lower today as the US energy department again raised domestic oil production estimates, intensifying concerns about continued global oversupply. The Energy Information Administration on Tuesday said US output could hit a record 10 million barrels per day next year, up from 9.3 million bpd now. American Petroleum Institute industry group reported yesterday US crude stocks rose 4.6 million barrels last week. Today at 16:30 CET the Energy Information Administration will release US Crude Oil Inventories. August Brent crude closed 1.3% higher at $50.12 a barrel on London\u2019s ICE Futures exchange on Tuesday.<\/p>\n

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Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets US stocks retreat second session in a row US stocks continued the slide on Tuesday as political uncertainties undermined market sentiment ahead of former Federal Bureau of Investigation director Comey\u2019s testimony to the Senate on Thursday and UK general election the same day. The dollar slipped: the live dollar index data show the […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-107006","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/107006","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=107006"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/107006\/revisions"}],"predecessor-version":[{"id":107012,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/107006\/revisions\/107012"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=107006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=107006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=107006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}