Main Market Mover
European and Asian stocks rose after the S&P 500 reached a record close on Friday. France’s CAC 40 has added 0.35% to its value while Germany’s DAX 30 has risen 0.4%.
Elsewhere, India’s Nifty 50 climbed 0.59% and the MSCI stocked up 0.6% as geopolitical fears wane. The US record has also elevated US equities before the US session. The Dow Jones increased by 0.24% and Wall Street’s proxy, the S&P 500, ranked up 0.14%.
Stock markets in Japan are closed for a public holiday. However, Japanese Prime Minister Shinzo Abe is considering a snap election as early as October.
Forex
After a lacklustre week, the dollar is finally edging upwards. Against a basket of major currency pairs, the greenback is strengthening.
Safe-haven currencies are dwindling after geopolitical concerns fade. The Swiss franc dropped 0.2% against the dollar, while the Japanese yen fell 0.3%, adding to the 2.8% drop against the greenback last week.
The pound is flat on Monday after a 1.5% climb against the dollar last week, the highest level since the UK’s vote to leave the EU in June of last year.
Commodities
Brent oil, the international benchmark, rallied 0.2% after touching a five-month high on Friday. Crude oil is now comfortably above the $50 mark, up 1.04% today.
Gold is weakening thanks to the stronger dollar and the reduced perceived risk. The precious metal is 0.43% lower this morning.