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Investing.com - The euro its highest level in almost 14-months against the dollar on Thursday as investors shrugged off efforts by the European Central Bank to moderate the message in a speech given by President Mario Draghi earlier this week.

EUR/USD hit a high of 1.1435, the strongest since May 11 2015. It was last at 1.1410.

The single currency was on track for a third day of gains after comments by Draghi on Tuesday fueled speculation that the ECB could soon start to unwind its quantitative easing program.

Draghi said factors weighing on inflation in the euro area were mainly temporary, adding that the bank could look through them.

He also said the ECB’s stimulus will be gradually withdrawn as the euro zone economy improves.

ECB sources subsequently tried to damp down speculation over monetary tightening, saying that markets had misjudged Draghi's comments.

But the rally in the single currency continued, taking it to 16-month highs against the yen, with EUR/JPY up 0.45% at 128.32.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, hit a trough of 95.57, the weakest since October.

Federal Reserve Chair Janet Yellen reiterated earlier this week that the bank would continue to gradually raise interest rates after it hiked rates this month, but the subdued inflation outlook in the U.S. has raised doubts over whether the Fed will be able to stick to its planned tightening path.

The dollar pushed higher against the yen, with USD/JPY rising 0.12% to 112.42.

A summary of the Bank of Japan’s latest meeting published on Monday showed that policymakers favor sticking to ultra-loose monetary policy, with inflation still well below the banks 2% target.

The divergent monetary policy outlook between the Fed and the BoJ has helped support the dollar against the yen.

Meanwhile, sterling briefly rose above the $1.30 level after the Bank of England’s Chief Economist Andy Haldane reiterated that interest rates may have to “edge up” if the cost of living continues to rise in the UK.

The comments came a day after BoE Governor Mark Carney warned that the continued growth in the UK economy would eventually lead to higher interest rates.

Investing.com - Global stocks Thursday mixed to higher after Wall Street bounces back.
Asia higher. {178|Nikkei 225}} up 0.44%. Yen slips vs dollar, hits 15-month lows vs euro.
Europe mixed. DAX up 0.18%. Euro jumps above $1.14 mark as ECB sounds more hawkish.
Banks mostly higher as European bond yields jump.
FTSE 100 up 0.58%. Sterling eyes $1.30 as U.K. rate hike bets rise on {{ecl-1034||Carney} remarks.
U.S. stock index futures mixed. U.S. banks pass stress tests as they unveil higher shareholder payouts.
Dollar index at multi-month lows as central bankers seem to prepare markets for stimulus removal.
Oil continues to recover but supply concerns cap gains.
Gold falls. U.S. Treasury yields higher.

Investing.com – Philippines stocks were lower after the close on Thursday, as losses in the Services, Property and Mining&Oil sectors led shares lower.

At the close in Philippines, the PSEi Composite declined 0.88% to hit a new 1-month low.

The best performers of the session on the PSEi Composite were Universal Robina Corp (PS:URC), which rose 0.94% or 1.50 points to trade at 161.50 at the close. Meanwhile, Aboitiz Power Corp (PS:AP) added 0.65% or 0.25 points to end at 38.90 and Emperador Inc (PS:EMP) was up 0.53% or 0.040 points to 7.600 in late trade.

The worst performers of the session were PLDT Inc (PS:TEL), which fell 3.59% or 67.00 points to trade at 1800.00 at the close. Globe Telecom Inc (PS:GLO) declined 3.32% or 70.00 points to end at 2040.00 and Alliance Global Group Inc (PS:AGI) was down 2.78% or 0.400 points to 14.000.

Falling stocks outnumbered advancing ones on the Philippines Stock Exchange by 134 to 79 and 38 ended unchanged.

Gold Futures for August delivery was down 0.16% or 1.95 to $1247.15 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.78% or 0.35 to hit $45.09 a barrel, while the September Brent oil contract rose 0.63% or 0.30 to trade at $47.84 a barrel.

CNY/PHP was up 0.34% to 7.4521, while USD/PHP rose 0.05% to 50.530.

The US Dollar Index Futures was down 0.29% at 95.50.

Investing.com - The dollar was wallowing at seven-month lows against a currency basket on Thursday after central bankers in Europe, the UK and Canada indicated that they could soon move towards tighter monetary policy.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.33% at 95.48 by 07.51 GMT (03.51 ET), the lowest trough since October 3.

The euro was trading at one-year highs against the dollar, with EUR/USD advancing 0.41% to 1.1424.

The single currency built on gains made after European Central Bank President Mario Draghi indicated on Tuesday that the bank could soon start to unwind its quantitative easing program.

The euro was at 16-month highs against the yen, with EUR/JPY up 0.45% at 128.32.

The pound was at one-month highs against the dollar, with GBP/USD rising 0.46% to trade at 1.2985.

Sterling leapt higher after Bank of England Governor Mark Carney said Wednesday that some removal of monetary stimulus is likely to become necessary as spare capacity in the economy erodes.

The BoE’s monetary policy committee was split 5-3 at its meeting earlier this month on whether to raise interest rates from a record-low 0.25%. Carney voted to keep rates unchanged.

The Canadian dollar also rallied, hitting its highest levels since February after Bank of Canada Governor Stephen Poloz said Wednesday that rate cuts in 2015 have done their job and the bank now needs to consider its options.

USD/CAD was last down 0.2% at 1.3011, after falling around 1.2% in the previous session.

Federal Reserve Chair Janet Yellen reiterated earlier this week that the U.S. central bank would continue to gradually raise interest rates after the U.S. central bank hiked rates earlier this month.

But the subdued inflation outlook in the U.S. has raised doubts over whether the Fed will be able to stick to its planned tightening path.

The dollar pushed higher against the yen, with USD/JPY rising 0.17% to 112.48.

A summary of the Bank of Japan’s latest meeting published on Monday showed that policymakers favor sticking to ultra-loose monetary policy, with inflation still well below the banks 2% target.

The divergent monetary policy outlook between the Fed and the BoJ has helped support the dollar against the yen.

Investing.com - Oil prices rose to a two-week high in European trade on Thursday, extending gains into a sixth session after U.S. government data revealed the biggest weekly decline in domestic crude production in almost a year.

The U.S. West Texas Intermediate crude August contract was at $45.12 a barrel by 3:35AM ET (0735GMT), up 38 cents, or around 0.9%. It touched its highest since June 14 at $45.23 earlier.

Elsewhere, Brent oil for September delivery on the ICE Futures Exchange in London tacked on 37 cents, or about 0.8%, to $47.91 a barrel, after hitting a two-week high of $48.03.

Crude prices posted sharp gains on Wednesday, with the commodity logging its fifth wining session in a row.

Data from the U.S. Energy Information Administration showed that total domestic crude production fell by 100,000 barrels a day to 9.25 million barrels a day for the week ended June 23. That was the biggest decline in weekly output since July 2016.

There was additional support stemming from a decline in U.S. gasoline inventories, which more than offset an unexpected rise in crude supplies.

Oil prices have been under pressure in recent weeks as concern over rising U.S. shale output canceled out production cuts by OPEC and non-OPEC members.

Last month, OPEC and some non-OPEC producers extended a deal to cut 1.8 million barrels per day in supply until March 2018.

The cartel will not rush into making a further cut in oil output or end some countries' exemptions to output limits, OPEC delegates said earlier this week, although a meeting in Russia next month is likely to consider further steps to support the market.

Elsewhere on Nymex, gasoline futures for August inched up 0.7 cents, or roughly 0.5%, to $1.487 a gallon, while August heating oil added 1.2 cents to $1.451 a gallon.

Natural gas futures for August delivery dipped 0.3 cents to $3.091 per million British thermal units, as traders looked ahead to weekly storage data due later in the global day.

Investing.com - The dollar was at multi-month lows Thursday against major currencies as a number of central bankers sounded more hawkish.
The dollar index was off 0.21% at 95.58 at 03:00 ET, near its lowest levels since early October.
The euro touched the $1.14 mark despite efforts by ECB officials to hose down upbeat remarks by Mario Draghi on the euro-zone recovery.
The pound eyed the $1.30 mark as Bank of England governor Mark Carney appeared to tone down a previous dovish approach.
Carney told an ECB banking forum Wednesday "some removal of stimulus policy is likely to become necessary" amid UK inflationary pressure.
Bank of Canada governor Stephen Poloz also hinted at a rate hike sooner rather than later, which buoyed the loonie.
The exception was the Bank of Japan, which seems inclined to continue with stimulus measures as inflation remains low.
The yen was mostly flat against the dollar at the 112 mark.
The euro traded above 128 yen, its highest level in over a year.
The Aussie was firm against the dollar, with the Australian currency buoyed by a recovery in iron ore prices.

Investing.com - Gold prices edged higher in European trade on Thursday, as the dollar extended its recent decline to the lowest level since October, boosting the appeal of the yellow metal.

Comex gold futures were at $1,252.69 a troy ounce by 3:05AM ET (0705GMT), up $3.60, or around 0.3%. Gold ended higher on Wednesday to notch its fifth gain in six sessions.

Also on the Comex, silver futures ticked up 12.0 cents, or roughly 0.7%, to $16.84 a troy ounce.

The dollar wallowed at one-year lows against the euro and slipped against sterling as investors priced in tighter monetary policy in Europe, following hawkish comments made by key central bank officials.

Sterling added to gains made after Bank of England Governor Mark Carney said on Wednesday that the central bank is likely to need to raise interest rates as the British economy comes closer to operating at full capacity.

Meanwhile, European Central Bank President Mario Draghi sparked the euro's rally on Tuesday, when he hinted that the ECB could trim its stimulus this year.

The Federal Reserve hiked interest rates earlier this month and left the door open for further increases later in the year, though a batch of mixed economic data recently has had investors wondering whether the Fed would be able to stay on its planned tightening path.

The dollar index, which measures the greenback against a basket of six major currencies, was down 0.3% at 95.49 in early trade, its lowest since October 3.

The buck came under additional pressure following a delay of the healthcare bill vote by the U.S. Senate earlier in the week.

Market participants are concerned that the Trump administration will find it hard to follow through with tax cuts and fiscal stimulus steps, without first getting the healthcare bill passed.

On the data front, traders will also keep an eye out on a final reading of U.S. first-quarter economic growth due later in the global day for further evidence on the health of the world's biggest economy.

The data is expected to show that the economy expanded at a 1.2% annual rate in the first three months of 2017, unchanged from a preliminary estimate.

Among other precious metals, platinum tacked on 0.3% to $926.90, while palladium rose 0.6% to $859.33 an ounce.

Investing.com - The Australian and New Zealand dollars were higher on Thursday, as sentiment on the greenback remained vulnerable amid U.S. political concerns and after upbeat New Zealand business confidence data.

AUD/USD gained 0.33% to 0.7664, the highest since March 30.

The greenback remained under pressure after U.S. Senate Republicans postponed a vote on the Trump administration’s healthcare bill on Tuesday, as they faced resistance from party members.

Investors are concerned that the administration will not be able to implement tax cuts and fiscal stimulus steps, without first getting the healthcare bill passed.

Meanwhile, market participants were looking ahead to reports on U.S. first-quarter growth and unemployment claims due later in the day, for further indications on the strength of the economy.

NZD/USD added 0.12% to trade at 0.7314, just off Tuesday’s four-month peak of 0.7344.

Data earlier showed that New Zealand’s ANZ Business Confidence index rose to 24.8 in June from 14.9 the previous month.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.21% at a fresh eight-month low of 95.58.

Investing.com – Peru stocks were lower after the close on Wednesday, as losses in the Mining, Industrials and Non-Metal Minerals sectors led shares lower.

At the close in Lima, the S&P Lima General fell 0.38%.

The best performers of the session on the S&P Lima General were Austral Group SAA (LM:AUG), which rose 6.67% or 0.100 points to trade at 1.600 at the close. Meanwhile, Inversiones Centenario SAA (LM:ICE) added 4.28% or 0.240 points to end at 5.850 and Atacocha (LM:ATB) was up 3.85% or 0.010 points to 0.270 in late trade.

The worst performers of the session were Minera Irl (LM:IRL), which fell 7.50% or 0.01 points to trade at 0.07 at the close. Unacem (LM:CEL) declined 3.67% or 0.090 points to end at 2.360 and Relapasa (LM:REL) was down 3.04% or 0.007 points to 0.223.

Rising stocks outnumbered declining ones on the Lima Stock Exchange by 14 to 13 and 8 ended unchanged.

Shares in Austral Group SAA (LM:AUG) rose to 52-week highs; rising 6.67% or 0.100 to 1.600. Shares in Inversiones Centenario SAA (LM:ICE) rose to 52-week highs; up 4.28% or 0.240 to 5.850.

Crude oil for August delivery was up 1.45% or 0.64 to $44.88 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.06% or 0.03 to hit $47.70 a barrel, while the August Gold Futures contract rose 0.29% or 3.63 to trade at $1250.53 a troy ounce.

USD/PEN was unchanged 0.00% to 3.2485, while EUR/PEN unchanged 0.00% to 3.7006.

The US Dollar Index Futures was down 0.42% at 95.78.

Investing.com – U.S. stocks closed higher on Wednesday, as financials, mostly banks, surged on the back of rising expectations that the release of the Federal Reserve’s stress test results will show that several big banks are in strong financial health.

A surge in financials spurred a rally in the broader market, as investors piled into banking stocks amid expectations that upbeat Federal Reserve stress test results would encourage several banks to ramp up dividends to shareholders.

Shares of JPMorgan and Goldman Sachs both closed more than 1% higher.

On the economic data front, pending home sales fell for the third-straight month, as the tighter supply of U.S. homes continued to push prices higher, deterring prospective buyers.

Meanwhile, the two-day tech selloff was halted on Wednesday, as shares of Facebook, Apple, and Amazon rebounded, paring losses of more than 1.5% sustained in the previous session.

The positive day for U.S. equities comes amid growing doubts that President Trump may struggle to deliver on his pro-growth economic agenda, which includes tax reform, after the Senate’s decision to delay a vote on a healthcare bill.

President Donald Trump has reiterated several times that healthcare reform would need to passed before his administration moves ahead with tax reform, which is widely viewed as a pro-economic growth measure.

In corporate news, Amazon become the latest company to catch the attention of President Trump, who tweeted that Amazon (NASDAQ:AMZN) wasn’t “paying internet taxes (which they should). Shares of Amazon closed 1.39% higher.

The Dow Jones Industrial Average closed at 21,454.61. The S&P 500 closed 0.88% higher while the Nasdaq Composite closed at 6234.41, up 1.43%.

The ‘Bulls and Bears’ on Wall Street

The top Dow gainers for the session: Caterpillar Inc (NYSE:CAT) up 2.4%, JPMorgan Chase & Co (NYSE:JPM) up 2%, while Intel Corporation (NASDAQ:INTC) rose 1.6%.

Johnson & Johnson (NYSE:JNJ) down 0.9%, Merck & Company Inc (NYSE:MRK) down 0.6% and General Electric Company (NYSE:GE) down 0.5%, were among the worst Dow performers of the session.

Investing.com – Mexico stocks were higher after the close on Wednesday, as gains in the Materials, Industrials and Telecoms Services sectors led shares higher.

At the close in Mexico, the IPC added 0.51%.

The best performers of the session on the IPC were Grupo LALA SA de CV (MX:LALAB), which rose 3.26% or 1.05 points to trade at 33.23 at the close. Meanwhile, Grupo Aeroportuario Del CentroNorte (MX:OMAB) added 2.56% or 2.690 points to end at 107.810 and Grupo Aeroportuario Del Sureste (MX:ASURB) was up 2.17% or 8.12 points to 382.36 in late trade.

The worst performers of the session were Gentera SAB de CV (MX:GENTERA), which fell 2.11% or 0.600 points to trade at 27.790 at the close. Grupo Financiero Inbursa , SAB De CV (MX:GFINBURO) declined 1.22% or 0.380 points to end at 30.740 and Industrias Penoles Sab De CV (MX:PENOLES) was down 1.00% or 4.08 points to 404.99.

Rising stocks outnumbered declining ones on the Mexico Stock Exchange by 144 to 126 and 17 ended unchanged.

Shares in Grupo Aeroportuario Del Sureste (MX:ASURB) rose to all time highs; rising 2.17% or 8.12 to 382.36.

Gold Futures for August delivery was up 0.33% or 4.08 to $1250.98 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 1.29% or 0.57 to hit $44.81 a barrel, while the September Brent oil contract rose 1.43% or 0.67 to trade at $47.59 a barrel.

USD/MXN was down 0.76% to 17.8503, while EUR/MXN fell 0.42% to 20.3100.

The US Dollar Index Futures was down 0.46% at 95.74.

Investing.com – Canada stocks were higher after the close on Wednesday, as gains in the Healthcare, Financials and Energy sectors led shares higher.

At the close in Toronto, the S&P/TSX Composite gained 0.49%.

The best performers of the session on the S&P/TSX Composite were Empire Company Ltd (TO:EMPa), which rose 9.92% or 1.90 points to trade at 21.00 at the close. Meanwhile, Alaris Royalty Corp . (TO:AD) added 9.67% or 1.930 points to end at 21.890 and Home Capital Group Inc . (TO:HCG) was up 5.98% or 0.97 points to 17.19 in late trade.

The worst performers of the session were Eldorado Gold Corporation (TO:ELD), which fell 5.93% or 0.22 points to trade at 3.49 at the close. Brookfield Renewable Energy Partners LP (TO:BEP_u) declined 4.49% or 1.95 points to end at 41.50 and Gildan Activewear Inc. (TO:GIL) was down 3.36% or 1.39 points to 40.01.

Rising stocks outnumbered declining ones on the Toronto Stock Exchange by 795 to 349 and 105 ended unchanged.

Shares in Eldorado Gold Corporation (TO:ELD) fell to 52-week lows; losing 5.93% or 0.22 to 3.49.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was down 4.16% to 11.99.

Gold Futures for August delivery was up 0.33% or 4.07 to $1250.97 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 1.29% or 0.57 to hit $44.81 a barrel, while the September Brent oil contract rose 1.45% or 0.68 to trade at $47.60 a barrel.

CAD/USD was up 1.35% to 0.7679, while CAD/EUR rose 0.93% to 0.6744.

The US Dollar Index Futures was down 0.45% at 95.75.

Investing.com – Colombia stocks were higher after the close on Wednesday, as gains in the Financials, Investment and Industrials sectors led shares higher.

At the close in Colombia, the COLCAP added 0.78%.

The best performers of the session on the COLCAP were Canacol Energy Ltd (CN:CNE), which rose 3.40% or 320.0 points to trade at 9720.0 at the close. Meanwhile, Bancolombia Pf (CN:BIC_p1) added 2.68% or 880.0 points to end at 33680.0 and Bcolombia (CN:BIC) was up 2.57% or 780.0 points to 31180.0 in late trade.

The worst performers of the session were Empresa De Energia De Bogota (CN:EEB), which fell 1.50% or 30.0 points to trade at 1975.0 at the close. Etb (CN:ETB) declined 1.29% or 8.0 points to end at 610.0 and Avianca Holdings Pf (CN:AVT_p) was down 1.19% or 30.0 points to 2485.0.

Rising stocks outnumbered declining ones on the Colombia Stock Exchange by 17 to 14.

US coffee C for September delivery was down 0.45% or 0.57 to $125.15 . Elsewhere in commodities trading, US cocoa for delivery in September rose 0.86% or 16.00 to hit $1876.50 , while the August Gold Futures contract rose 0.31% or 3.90 to trade at $1250.80 a troy ounce.

USD/COP was down 0.24% to 3019.00, while BRL/COP rose 0.70% to 919.64.

The US Dollar Index Futures was down 0.46% at 95.74.

Investing.com – Crude futures settled higher on Wednesday, as a bigger than expected drop in gasoline inventories offset an unexpected build in crude output, easing investor concerns about a slowdown in demand for refined products.

On the New York Mercantile Exchange crude futures for August delivery rose 1.1% to settle at $44.74 a barrel, while on London's Intercontinental Exchange, Brent added 1.34% to trade at $47.55 a barrel.

Investors mulled over a mixed weekly inventory report from the Energy Information Administration, showing a surprise build in crude stockpiles while gasoline inventories fell by more than expected.

Inventories of U.S. crude unexpectedly rose by roughly 118,000 barrels in the week ended June 23, below expectations of draw of about 2.5m barrels.

Gasoline inventories, one of the products that crude is refined into, fell by 894,000 barrels against expectations of a draw of 583,000 barrels while distillate stockpiles declined by 223,000 barrels, compared to expectations of a rise of 453,000 barrels.

The bigger-than-expected draw in gasoline stockpiles eased investor concerns about a slowdown in demand for refined products, after data in June showed stockpiles of gasoline rose back above 2016 levels and well above their five-year average.

Crude prices extended gains for a six-straight day, after falling into bear-market territory last week amid fears that an uptick in output by Nigeria and Libya were undermining Opec and its allies’ efforts to curb oversupply.

Earlier in June, Libya's 270,000-bpd Sharara oilfield reopened while Royal Dutch Shell lifted force majeure on exports of Nigeria’s Forcados crude oil, bringing all of the West African country’s oil exports fully online for the first time in 16 months.

Investing.com – Gold prices bounced off session lows, buoyed a slump in the dollar as U.S. political uncertainty resurfaced, after the Senate’s decision to delay a vote on a healthcare bill raised fresh doubts about President Trump’s ability to deliver on his pro-growth economic agenda.

Gold futures for August delivery on the Comex division of the New York Mercantile Exchange fell by $3.67, or 0.29%, to $1,250.57 a troy ounce.

A slump in the dollar to eight-month lows against its rivals boosted demand for dollar-denominated gold, as traders sought safe haven protection from U.S. political uncertainty, after the Senate delayed a vote on a healthcare bill to repeal and replace Obamacare.

President Donald Trump has reiterated several times that healthcare reform would need to be passed before his administration moves ahead with tax reform, which is widely viewed as a pro-economic growth measure.

Dollar-denominated assets such as gold are sensitive to moves in the dollar – A dip in the dollar makes gold cheaper for holders of foreign currency and thus, increases demand.

Gains in gold, however, remained stifled by expectations that the Federal Reserve will deliver a third rate hike later this year, after hiking rates for the second time earlier in June, despite a slowdown in inflation.

Some analysts believe that the next set of inflation data slated for Friday, June 30, will be key in determining if the Fed can deliver on its promise of three hikes this year.

“…the FOMC does not take the recent inflation developments lightly, and though it believes the near-term weakness will prove to be transitory, inflation data is front and center and will be key in determining if the Fed can deliver on its promise of three hikes this year.” Morgan Stanley said in research note to clients.

In other precious metal trading, silver futures gained 1.05% to $16.762, a troy ounce while platinum futures rose by 0.28% to $923.50.

Copper traded at $2.638, up 0.51%, while natural gas, added 3.02%, rising to $3.099.

Investing.com – The dollar extended losses against a basket of global currencies on Wednesday, pressured by a surge in both the pound and Canadian dollar, after central bank governors from both the Bank of England and the Bank of Canada hinted at tapering current accommodative monetary policy measures.

Bullish comments from central bank bosses concerning monetary policy weighed on the dollar for the second-straight day, as traders speculated that both the Bank of England and Bank of Canada may adopt tighter monetary policy measures soon.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell by 0.44% to 95.76.

GBP/USD surged to a post-election high of $1.2973, up more 1%, after Bank of England governor Mark Carney, appeared to reverse his recent assertion that there ‘was no need to raise rates soon’, hinting that a rate hike may be in the pipeline, suggesting that “some removal of monetary stimulus is likely to become necessary”.

Bank of Canada governor Stephen Poloz adopted a similar tone concerning monetary policy, reiterating the central bank may be considering raising interest rates, asserting that rate cuts from 2015 ‘have done their job’.

USD/CAD fell to four-month lows of C$1.3039, down more 1%.

The euro pared earlier losses against the dollar, rising 0.33% to $1.1378, despite European Central Bank (ECB) sources saying markets misjudged ECB president Mario Draghi’s comments a day earlier.

Meanwhile, in the U.S. the Senate’s decision to delay a vote on a health-care bill to repeal and replace Obamacare weighed on dollar sentiment, as investors questioned whether the delay would derail President Trump’s plan to introduce pro-growth economic measures such as tax-reform.

USD/JPY traded at Y112.20, down 0.13%.

Investing.com – Morocco stocks were higher after the close on Wednesday, as gains in the Construction&Building Materials, Forestry&Paper and Transport sectors led shares higher.

At the close in Casablanca, the Moroccan All Shares gained 0.71% to hit a new 3-months high.

The best performers of the session on the Moroccan All Shares were M2M Group (CS:M2M), which rose 4.43% or 12.95 points to trade at 305.00 at the close. Meanwhile, Ciments Du Maroc (CS:SCM) added 2.82% or 40 points to end at 1460 and LafargeHolcim Maroc (CS:LHM) was up 2.42% or 49 points to 2074 in late trade.

The worst performers of the session were Afric Industries Sa (CS:AFIND), which fell 5.98% or 18.25 points to trade at 286.75 at the close. Salafin (CS:SLF) declined 4.55% or 40 points to end at 840 and Colorado (CS:COL) was down 4.16% or 2.69 points to 62.00.

Rising stocks outnumbered declining ones on the Casablanca Stock Exchange by 27 to 18 and 2 ended unchanged.

Crude oil for August delivery was up 1.13% or 0.50 to $44.74 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.28% or 0.60 to hit $47.52 a barrel, while the August Gold Futures contract rose 0.25% or 3.11 to trade at $1250.01 a troy ounce.

EUR/MAD was down 0.70% to 11.0010, while USD/MAD fell 1.00% to 9.6720.

The US Dollar Index Futures was down 0.44% at 95.76.

Investing.com – Portugal stocks were lower after the close on Wednesday, as losses in the Telecoms, Basic Materials and Industrials sectors led shares lower.

At the close in Lisbon, the PSI 20 fell 0.09% to hit a new 1-month low.

The best performers of the session on the PSI 20 were Sonae (LS:YSO), which rose 2.22% or 0.0210 points to trade at 0.9660 at the close. Meanwhile, Montepio (LS:MPIO) added 1.48% or 0.007 points to end at 0.480 and Banco Comercial Portugues (LS:BCP) was up 1.06% or 0.0025 points to 0.2380 in late trade.

The worst performers of the session were Mota Engil (LS:MOTA), which fell 1.88% or 0.0480 points to trade at 2.5110 at the close. Ibersol SGPS (LS:IBS) declined 1.79% or 0.260 points to end at 14.240 and Pharol SGPS SA (LS:PHRA) was down 1.30% or 0.0040 points to 0.3040.

Falling stocks outnumbered advancing ones on the Lisbon Stock Exchange by 20 to 16 and 6 ended unchanged.

Brent oil for September delivery was up 1.15% or 0.54 to $47.46 a barrel. Elsewhere in commodities trading, Crude oil for delivery in August rose 1.04% or 0.46 to hit $44.70 a barrel, while the August Gold Futures contract rose 0.23% or 2.88 to trade at $1249.78 a troy ounce.

EUR/USD was up 0.32% to 1.1376, while EUR/GBP fell 0.63% to 0.8793.

The US Dollar Index Futures was down 0.43% at 95.77.

Investing.com – Denmark stocks were lower after the close on Wednesday, as losses in the Healthcare, Real Estate and Technology sectors led shares lower.

At the close in Copenhagen, the OMX Copenhagen 20 declined 0.40%.

The best performers of the session on the OMX Copenhagen 20 were AP Moeller - Maersk A/S A (CO:MAERSKa), which rose 2.06% or 250 points to trade at 12390 at the close. Meanwhile, AP Moeller - Maersk A/S B (CO:MAERSKb) added 1.87% or 240 points to end at 13070 and Nordea Bank AB (CO:NDA) was up 1.76% or 1.45 points to 83.65 in late trade.

The worst performers of the session were Genmab (CO:GEN), which fell 2.24% or 32.0 points to trade at 1396.0 at the close. Novo Nordisk A/S B (CO:NOVOb) declined 1.39% or 4.0 points to end at 283.9 and Coloplast A/S (CO:COLOb) was down 1.24% or 7.0 points to 556.0.

Falling stocks outnumbered advancing ones on the Copenhagen Stock Exchange by 82 to 42 and 14 ended unchanged.

Shares in AP Moeller - Maersk A/S B (CO:MAERSKb) rose to 52-week highs; rising 1.87% or 240 to 13070.

Crude oil for August delivery was up 0.88% or 0.39 to $44.63 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.04% or 0.49 to hit $47.41 a barrel, while the August Gold Futures contract rose 0.20% or 2.51 to trade at $1249.41 a troy ounce.

USD/DKK was down 0.26% to 6.5395, while EUR/DKK rose 0.02% to 7.4368.

The US Dollar Index Futures was down 0.40% at 95.80.

Investing.com – France stocks were lower after the close on Wednesday, as losses in the Healthcare, Consumer Goods and Industrials sectors led shares lower.

At the close in Paris, the CAC 40 lost 0.11%, while the SBF 120 index lost 0.17%.

The best performers of the session on the CAC 40 were BNP Paribas SA (PA:BNPP), which rose 2.68% or 1.68 points to trade at 64.33 at the close. Meanwhile, Societe Generale (PA:SOGN) added 2.46% or 1.17 points to end at 48.47 and ArcelorMittal SA (AS:MT) was up 1.59% or 0.310 points to 19.865 in late trade.

The worst performers of the session were Unibail Rodamco SE (AS:UNBP), which fell 1.92% or 4.40 points to trade at 225.35 at the close. Essilor International Compagnie Generale d’Optique SA (PA:ESSI) declined 1.85% or 2.15 points to end at 114.30 and LVMH Moet Hennessy Louis Vuitton SE (PA:LVMH) was down 1.37% or 3.15 points to 226.65.

The top performers on the SBF 120 were BNP Paribas SA (PA:BNPP) which rose 2.68% to 64.33, Societe Generale (PA:SOGN) which was up 2.46% to settle at 48.47 and Natixis (PA:CNAT) which gained 2.25% to close at 6.079.

The worst performers were Soitec SA (PA:SOIT) which was down 4.90% to 56.300 in late trade, Korian Medica SA (PA:KORI) which lost 2.15% to settle at 30.300 and Dassault Aviation (PA:AVMD) which was down 2.13% to 1272.80 at the close.

Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 352 to 267 and 94 ended unchanged.

The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was up 0.18% to 14.82 a new 1-month high.

Gold Futures for August delivery was up 0.20% or 2.51 to $1249.41 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.90% or 0.40 to hit $44.64 a barrel, while the September Brent oil contract rose 1.04% or 0.49 to trade at $47.41 a barrel.

EUR/USD was up 0.28% to 1.1372, while EUR/GBP fell 0.63% to 0.8793.

The US Dollar Index Futures was down 0.40% at 95.80.

Investing.com – Italy stocks were higher after the close on Wednesday, as gains in the Financials, Telecoms and Utilities sectors led shares higher.

At the close in Milan, the Investing.com Italy 40 added 1.30%.

The best performers of the session on the Investing.com Italy 40 were UniCredit SpA (MI:CRDI), which rose 4.07% or 0.6600 points to trade at 16.8700 at the close. Meanwhile, FinecoBank Banca Fineco SpA (MI:FBK) added 3.75% or 0.26 points to end at 7.05 and Buzzi Unicem (MI:BZU) was up 2.58% or 0.57 points to 22.68 in late trade.

The worst performers of the session were Yoox Net-A-Porter Group SpA (MI:YNAP), which fell 2.47% or 0.63 points to trade at 24.90 at the close. Salvatore Ferragamo (MI:SFER) declined 1.55% or 0.38 points to end at 24.18 and Luxottica Group (MI:LUX) was down 1.52% or 0.80 points to 51.90.

Rising stocks outnumbered declining ones on the Milan Stock Exchange by 182 to 177 and 15 ended unchanged.

Crude oil for August delivery was up 0.90% or 0.40 to $44.64 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.07% or 0.50 to hit $47.42 a barrel, while the August Gold Futures contract rose 0.20% or 2.51 to trade at $1249.41 a troy ounce.

EUR/USD was up 0.28% to 1.1372, while EUR/GBP fell 0.63% to 0.8793.

The US Dollar Index Futures was down 0.40% at 95.80.

Investing.com – Wall Street struggled to pull back into positive territory for the week on Wednesday after the previous session’s decline, buoyed by a small sample of positive earnings reports while oil maintained gains after a mixed report on U.S. crude inventories.

At 12:09PM ET (16:09GMT), the Dow Jones advanced 157 points, or 0.74%, the S&P 500 gained 19 points, or 0.80%, while the Nasdaq Composite traded up 57 points, or 0.93%.

The blue-chip index had already covered from Tuesday’s losses and was up 0.2% so far this week, while the global stock benchmark was unchanged since last Friday.

However, despite the Nasdaq’s rebound on Wednesday, trying to avoid a three-day losing, the tech index was still off 0.6% from the end of last week, fighting to avoid its first down month since October.

Some positive earnings helped to buoy buying sentiment on Wednesday

Shares in S&P components General Mills (NYSE:GIS) and Monsanto (NYSE:MON) rose around 2% and 1%, respectively, after reporting better-than-expected earnings, though Paychex (NASDAQ:PAYX) put a damper on sentiment with losses of more than 2% as the firm presented a lower-than-expected guidance.

With markets waiting for the unofficial kickoff of second-quarter earnings season, the 16 S&P components that have reported so far have shown 75% beating on profit estimates with 9.3% growth and 88% topping consensus on sales with growth of 8.7%, according to The Earnings Scout.

Despite the initial positive start, these experts warned that it won’t continue and repeated their call that earnings-per-share had topped in the first quarter.

On the economic front, pending home sales unexpectedly declined in May, though the report insisted that buying interest was solid and that the weakness was to due to a lack of supply.

The dollar continued to drop and reached a fresh eight-month low against the other major currencies on Wednesday, after the release of the data and as U.S. political concerns continued to weigh.

The greenback had already weakened broadly after U.S. Senate Republicans postponed a vote on the Trump administration’s healthcare bill on Tuesday, as they faced resistance from party members.

Meanwhile, oil prices moved higher on Wednesday after the publication of mixed inventory data.

Though the U.S. Energy Information Administration said in its weekly report that crude oil inventories rose by 118,000 barrels, compared to expectations for a 2.585 million barrel drop, investors appeared to take hear in the fact that gasoline inventories decreased by 894,000 barrels, compared to expectations for a drop of 583,000 barrels, while distillate stockpiles including diesel fell by 223,000 barrels when build of 453,000 was forecast.

U.S. crude futures gained 0.88% to $44.63 by 12:14PM ET (16:14GMT), while Brent oil traded up 1.04% to $47.41.

Investing.com – Germany stocks were lower after the close on Wednesday, as losses in the Utilities, Basic Resources and Software sectors led shares lower.

At the close in Frankfurt, the DAX lost 0.19%, while the MDAX index fell 0.29%, and the TecDAX index lost 1.09%.

The best performers of the session on the DAX were Lufthansa AG VNA O.N. (DE:LHAG), which rose 3.57% or 0.690 points to trade at 20.030 at the close. Meanwhile, Commerzbank AG O.N. (DE:CBKG) added 3.21% or 0.319 points to end at 10.260 and Deutsche Bank AG NA O.N. (DE:DBKGn) was up 1.42% or 0.220 points to 15.740 in late trade.

The worst performers of the session were RWE AG ST O.N. (DE:RWEG), which fell 2.36% or 0.435 points to trade at 17.965 at the close. E.ON SE NA (DE:EONGn) declined 1.28% or 0.111 points to end at 8.574 and Henkel&Co KGaA AG Pref (DE:HNKG_p) was down 1.20% or 1.50 points to 124.00.

The top performers on the MDAX were Aareal Bank AG (DE:ARLG) which rose 2.50% to 34.915, Schaeffler AG Pref (DE:SHA_p) which was up 1.84% to settle at 12.73 and STADA Arzneimittel VNA O.N. (DE:STAGn) which gained 1.80% to close at 61.000.

The worst performers were Hella KGaA Hueck&Co (DE:HLE) which was down 2.71% to 43.60 in late trade, Aurubis AG (DE:NAFG) which lost 2.03% to settle at 67.930 and Bilfinger SE O.N. (DE:GBFG) which was down 1.91% to 33.340 at the close.

The top performers on the TecDAX were SMA Solar Technology AG (DE:S92G) which rose 2.42% to 27.285, Nordex SE O.N. (DE:NDXG) which was up 1.26% to settle at 10.865 and S&T AG (F:SANT1) which gained 0.66% to close at 13.770.

The worst performers were Pfeiffer Vacuum Technology O.N. (DE:PV) which was down 2.93% to 130.75 in late trade, Adva Optical Networking SE (DE:ADAG) which lost 2.58% to settle at 9.167 and Draegerwerk VZO O.N. (DE:DRWG_p) which was down 2.55% to 92.380 at the close.

Falling stocks outnumbered advancing ones on the Frankfurt Stock Exchange by 481 to 229 and 17 ended unchanged.

Shares in Lufthansa AG VNA O.N. (DE:LHAG) rose to 3-years highs; gaining 3.57% or 0.690 to 20.030. Shares in Commerzbank AG O.N. (DE:CBKG) rose to 52-week highs; rising 3.21% or 0.319 to 10.260.

The DAX volatility index, which measures the implied volatility of DAX options, was up 1.05% to 13.99.

Gold Futures for August delivery was up 0.26% or 3.28 to $1250.18 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.88% or 0.39 to hit $44.63 a barrel, while the September Brent oil contract rose 1.02% or 0.48 to trade at $47.40 a barrel.

EUR/USD was up 0.28% to 1.1372, while EUR/GBP fell 0.71% to 0.8786.

The US Dollar Index Futures was down 0.43% at 95.77.

Investing.com – Sweden stocks were higher after the close on Wednesday, as gains in the Consumer Services, Financials and Basic Materials sectors led shares higher.

At the close in Stockholm, the OMX Stockholm 30 rose 0.15%.

The best performers of the session on the OMX Stockholm 30 were H&M Hennes&Mauritz AB B (ST:HMb), which rose 1.94% or 3.9 points to trade at 204.6 at the close. Meanwhile, Nordea Bank AB (ST:NDA) added 1.57% or 1.70 points to end at 109.70 and Swedbank AB ser A (ST:SWEDa) was up 0.98% or 2.0 points to 206.7 in late trade.

The worst performers of the session were ABB Ltd (ST:ABB), which fell 1.69% or 3.7 points to trade at 214.9 at the close. AstraZeneca PLC (ST:AZN) declined 1.50% or 9.0 points to end at 590.5 and Getinge AB ser. B (ST:GETIb) was down 1.30% or 2.2 points to 167.5.

Falling stocks outnumbered advancing ones on the Stockholm Stock Exchange by 447 to 276 and 69 ended unchanged.

Crude oil for August delivery was up 0.70% or 0.31 to $44.55 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.83% or 0.39 to hit $47.31 a barrel, while the August Gold Futures contract rose 0.29% or 3.59 to trade at $1250.49 a troy ounce.

EUR/SEK was down 0.31% to 9.7338, while USD/SEK fell 0.58% to 8.5631.

The US Dollar Index Futures was down 0.40% at 95.80.

Investing.com – Norway stocks were higher after the close on Wednesday, as gains in the Consumer Durables And Apparel, Banking and Media sectors led shares higher.

At the close in Oslo, the Oslo OBX gained 0.69%.

The best performers of the session on the Oslo OBX were Norwegian Air Shuttle ASA (OL:NWC), which rose 3.34% or 7.9 points to trade at 244.4 at the close. Meanwhile, Storebrand ASA (OL:STB) added 2.98% or 1.65 points to end at 57.05 and DnB ASA (OL:DNB) was up 2.62% or 3.6 points to 140.1 in late trade.

The worst performers of the session were Petroleum Geo - Services ASA (OL:PGS), which fell 2.04% or 0.30 points to trade at 14.42 at the close. Aker BP ASA (OL:AKERBP) declined 1.19% or 1.50 points to end at 124.20 and Golden Ocean Group Ltd (OL:GOGLT) was down 0.81% or 0.45 points to 55.00.

Rising stocks outnumbered declining ones on the Oslo Stock Exchange by 96 to 76 and 24 ended unchanged.

Crude oil for August delivery was up 0.70% or 0.31 to $44.55 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.83% or 0.39 to hit $47.31 a barrel, while the August Gold Futures contract rose 0.29% or 3.66 to trade at $1250.56 a troy ounce.

EUR/NOK was up 0.60% to 9.6058, while USD/NOK rose 0.37% to 8.4507.

The US Dollar Index Futures was down 0.38% at 95.81.

Investing.com – Greece stocks were lower after the close on Wednesday, as in the sectors led shares .

At the close in Athens, the Athens General Composite unchanged 0.00%.

The best performers of the session on the Athens General Composite were Select Textile (AT:EPIr), which rose 8.37% or 0.018 points to trade at 0.233 at the close. Meanwhile, Centric Hold (AT:DESr) added 5.93% or 0.007 points to end at 0.125 and Ellaktor SA (AT:HELr) was up 5.80% or 0.080 points to 1.460 in late trade.

The worst performers of the session were Attica Bank SA (AT:BOAr), which fell 4.27% or 0.005 points to trade at 0.112 at the close. Marfin Invest (AT:MRFr) declined 3.55% or 0.006 points to end at 0.163 and Elton S.A. (AT:ELNr) was down 2.90% or 0.040 points to 1.340.

Rising stocks outnumbered declining ones on the Athens Stock Exchange by 61 to 52 and 8 ended unchanged.

Gold Futures for August delivery was up 0.34% or 4.20 to $1251.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.90% or 0.40 to hit $44.64 a barrel, while the September Brent oil contract rose 1.02% or 0.48 to trade at $47.40 a barrel.

EUR/USD was up 0.19% to 1.1362, while EUR/GBP fell 0.73% to 0.8784.

The US Dollar Index Futures was down 0.35% at 95.84.

Investing.com - Oil extended slim gains Wednesday despite U.S. crude stocks unexpectedly rising in the latest week, official data showed Wednesday.
West Texas Intermediate was up 1.02% at $44.69 after the data release, compared with a reading of $44.27 just prior.
The Energy Information Agency said crude inventories rose by 118,000 barrels after a drop of 2.451 million barrels the previous week.
Crude inventories were forecast to fall by 2.585 million barrels. The API on Tuesday reported a rise of 851,000 barrels.
Gasoline stocks fell by about 894,000 barrels, more than expected, after a fall of 578,000 barrels the previous week.
Gasoline inventories were expected to fall by 583,000 barrels.

Investing.com - The dollar continued to drop and reached a fresh eight-month low against the other major currencies on Wednesday, after the release of disappointing U.S. housing sector data and as U.S. political concerns continued to weigh.

EUR/USD rose 0.32% to a one-year high of 1.1373.

The U.S. National Association of Realtors said pending home sales decreased by 0.8% last month, compared to expectations for a gain of 0.8%.

The greenback had already weakened broadly after U.S. Senate Republicans postponed a vote on the Trump administration’s healthcare bill on Tuesday, as they faced resistance from party members.

Investors are concerned that the administration will not be able to implement tax cuts and fiscal stimulus steps, without first getting the healthcare bill passed.

Meanwhile, the euro pared some earlier gains after the European Central Bank said Wednesday that the market misinterpreted remarks by President Mario Draghi a day earlier.

Speaking at the ECB’s forum on Tuesday, Draghi said factors weighing on inflation in the euro area were mainly temporary, adding that the bank could look through them.

The remarks fueled speculation that the ECB could soon unwind its quantitative easing program.

GBP/USD rallied 1.11% to 1.2957, the highest since June 8, after Bank of England Governor Mark Carney seemed to alter his forward guidance on interest rates.

Elsewhere, USD/JPY slipped 0.14% to 112.17, while USD/CHF held steady at 0.9597.

The Australian and New Zealand dollars were stronger, with AUD/USD up 0.42% at 0.7615 and with NZD/USD gaining 0.34% to 0.7293.

Meanwhile, USD/CAD declined 0.81% to trade at 1.3092.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.48% at a fresh eight-month low of 95.72.