Financial Update by Spectra Global: Nasdaq Reaches New Heights, Dollar Strengthens, and Commodities Mixed
The dollar index and dollar index futures both rose 0.1%.
Chinese yuan weakens, USDCNY at 6-mth high.
USDJPY pair rising past 157 yen to the dollar.
AUDUSD pair rising marginally even as consumer price index inflation grew more than expected in April.
USDKRW pair rose 0.2%, while the Singapore dollar’s USDSGD pair added 0.1%.
USDINR pair rose 0.1% and was seen moving back towards record highs hit in May, above 83 rupees to the dollar.
The Nasdaq closed above 17,000 for the first time ever.
NASDAQ Composite rose 0.6% to close at a record of 17,019.88, the Dow Jones Industrial Average fell 216 points, or 0.6%, while S&P 500 rose 0.1%.
The U.S. Securities and Exchange Commission (SEC) approved the first spot Ethereum (ETH) exchange-traded funds (ETFs) last week. Ethereum price has surged in the anticipation of this decision with crypto experts now saying that the bull run has just started.
Spot gold fell 0.1% to $2,358.93 an ounce, while gold futures rose 0.1% to $2,359.80 an ounce ahead of their expiration this week.
Other precious metals were a mixed bag on Wednesday. Platinum futures fell 0.2% to $1,069.00 an ounce, while silver futures rose 0.5% to $32.312 an ounce.
Benchmark copper futures on the London Metal Exchange rose 0.6% to $10,566.50 a tonne, while one-month copper futures fell 0.1% to $4.8715 a pound.
