Asia Morning: U.S. Dollar Slips, Gold Firm

Wall Street sign with a building in background
On Friday, U.S. markets were closed in observance of Independence Day.

European stocks were broadly lower. The Stoxx Europe 600 Index sank 0.78%. Germany's DAX 30 declined 0.64%, France's CAC 40 fell 0.84%, and the U.K.'s FTSE 100 was down 1.33%.

Spot gold price remained firm at $1,775 an ounce.

Source: GAIN Capital, TradingView


Brent crude oil futures (September) settled 1.0% lower at $42.73 a barrel.

On the forex front, the ICE U.S. Dollar Index fell 0.2% on day to 97.17.

EUR/USD gained 0.1% to 1.1249. The eurozone's May retail sales (+15.0% on month expected) and German factory orders for May (+15.4% on month expected) will be reported later in the day.

GBP/USD edge up 0.1% to 1.2485. Later today, the Markit U.K. Construction PMI for June will be released (46.0 expected).

USD/JPY was flat at 107.51.

USD/CAD slipped 0.1% to 1.3547. The Bank of Canada's Overall Business Outlook Index for the second quarter will be reported later today (-0.7 in the first quarter).

Other commodity-linked currencies were broadly higher against the greenback. AUD/USD climbed 0.3% to 0.6942 and NZD/USD advanced 0.4% to 0.6535, both up for a fourth straight session. China's Caixin Services PMI rose to 58.4 in June (53.2 expected) from 55.0 in May.


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