Daily Digest: Thursday 6th June
Europe
The headline event of Thursday’s session was the European Central Banks interest rate decision and monetary policy statement, released at the conclusion of their June meet. As noted earlier this week analysts expected one of two outcomes, with rate hikes off the table, the consensus was between holding the bank rate at its current level, or cutting rates 25bps as inflation trends toward the 2% target.
Rest of the World
Following two consecutive sessions of losses, the Nikkei 225 (¥N225) experienced a slight reversal climbing 213.34 (0.55%) higher to 38,703.51. Traders exercised support at the 38,400 level as the market moved higher into Thursday’s open. The Japanese Yen continued to weaken despite strong upward momentum into the week as the currency sits at 156.16 against the USD as of 13:12 GMT.
The Shanghai Stock Exchange Composite Index (¥SSE) extended declines as prices moved 16.61 (0.54%) lower to 3,048.79, marking the indexes lowest close since April. On the other hand, the Nifty 50 (₹NSEI), the Indian benchmark index continued to rally behind Modi’s election success, rising a further 201.05 points (0.89%) to 22,821.40.
Sources:
https://uk.finance.yahoo.com/world-indices/
https://uk.finance.yahoo.com/commodities
https://www.londonstockexchange.com/indices/ftse-100
https://www.binance.com/en-GB/price/bitcoin
https://www.binance.com/en-GB/price/ethereum
https://qontigo.com/index/sxxp/
Stock Market Activity Today & Latest Stock Market Trends | Nasdaq
https://coinmarketcap.com/charts/#market-cap
https://www.forexfactory.com
Definitions:
YoY - Year on Year, or, Year over Year
MoM - Month on Month, or, Month over Month
QoQ - Quarter on Quarter, or, Quarter over Quarter
ECB - European Central Bank
BOJ - Bank of Japan
Fed - Federal Reserve
BOE - Bank of England
SNB - Swiss National Bank
DOJ - Department of Justice