Help
Banks kick off earnings season
The S&P 500 and Nasdaq 100 futures were steady in premarket trading, staying close to record highs ahead of earnings reports from major banks.
The yen surged late Thursday, fueling speculation of Japanese government intervention as the USD/JPY dropped from above 161 to 157.38.
German wholesale price index inflation for June was weaker than expected, yet the EUR/USD pair remained near 1.08900, rising for the third consecutive day.
Oil prices rose with Brent near $85 and WTI close to $82, supported by U.S. gasoline demand hitting 9.4 million bpd, the highest since 2019.
Another intervention?
The yen experienced a sharp increase late Thursday, sparking speculation about possible intervention by the Japanese government in the currency markets. The USD/JPY fell from above 161 to 157.38.
German wholesale price index inflation data for June came in slightly weaker than expected still the EUR/USD pair was last seen near 1.08900 up for the third consecutive day.
Indices
The S&P 500 and Nasdaq 100 futures were little changed in premarket trading, remaining close to record highs as investors anticipated key earnings reports from major banks like Wells Fargo, JPMorgan and Citigroup.
The tech heavy Nasdaq saw a mild correction overnight by 2%, despite September rate cut speculation. Tech stocks in Asia fell back too following Wall Street momentum.
Commodities
Oil prices rose today with Brent claiming the $85 mark again and WTI near $82.
U.S. gasoline demand reached 9.4 million barrels per day (bpd) in the week ending July 5, marking the highest level since 2019 for the week that includes the Independence Day holiday, according to government data released earlier this week supporting oil prices.
