CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open Account
☰
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open Account
✖

070720 US Pre Open

By :   Global author , Financial Analyst
July 7, 2020 8:54 AM
The S&P 500 Futures are declining following Monday Nasdaq 100 fresh record high close at 10604.

Today, U.S. Labor Department will report JOLTS job openings for May (4.8 million expected).

European indices are losing more than 1% on average on disappointing eco data releases. European Commission revised down euro-zone 2020 GDP decline from -7.7% to -8.7%. In Germany, industrial production rebounded by 7.8% in May, after a decline of 17.5% (revised from -17.9%) in April. However the market expected an increase of 11.1%.

Asian indices ended mixed, mostly reversing morning trading session gain to losses. The Australian ASX 200 ended flat while the China Mainland CSI 300 added 0.60%, recording a 6-day rally. The Japanese Nikkei eased 0.44% and Hong Kong HSI dropped 1.38%. On the economic data front, the Reserve Bank of Australia kept its main rate unchanged at 0.25%, as expected and Japan's household spending declined 16.2% on year in May (-11.8% expected).

WTI Crude Oil futures declined during Asian trading session as Saudi Arabia raised pricing for August oil shipments to Asia, the U.S. and northern Europe.

Gold is edging down, but remains firm close to a eight-year high on COVID-19 concerns.

Gold fell 7.65 dollars (-0.43%) to 1777.03 dollars.

US dollar consolidates after the release of better than expected US services data. 

EUR/USD fell 23pips to 1.1286 while GBP/USD rose 21pips to 1.2513.

US Equity Snapshot



Apple (AAPL), the tech giant, has decided to use OLED screens for entire 5G iPhone range this year, according to Nikkei.

Facebook (FB), the social network, was reiterated "buy" at Goldman Sachs.

Kinder Morgan (KMI), one of the largest midstream energy firms in North America, was downgraded to "sell" from "neutral" by Goldman Sachs.

Dominion Energy (D), an electricity and natural gas supplier, was downgraded to "neutral" from "outperform" at Credit Suisse.

Source : TradingView, Gain Capital


StoneX Financial Ltd (trading as "FOREX.com") is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, FOREX.com does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date.


This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it. No opinion given in this material constitutes a recommendation by FOREX.com or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.


The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although FOREX.com is not specifically prevented from dealing before providing this material, FOREX.com does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. For further details see our full non-independent research disclaimer and quarterly summary.


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

FOREX.com is a trading name of StoneX Financial Ltd. StoneX Financial Ltd is a company incorporated in England and Wales with UK Companies House number 05616586 and with its registered office at 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is authorised and regulated by the Financial Conduct Authority in the UK, with FCA Register Number: 446717.

FOREX.com is a trademark of StoneX Financial Ltd. This website uses cookies to provide you with the very best experience and to know you better. By visiting our website with your browser set to allow cookies, you consent to our use of cookies as described in our Privacy Policy. FOREX.com products and services are not intended for Belgium residents.

© FOREX.COM 2026