Stocks- U.S. Futures Flat as Investors Look to Earnings

Investing.com – U.S. futures were flat as investors turn their focus to corporate earnings.

The S&P 500 futures fell half a point or 0.02% to 2,802.75 as of 6:49 AM ET (10:49 GMT) while Dow futures increased eight points or 0.03% to 25,012.0. Meanwhile tech heavy Nasdaq 100 futures gained six points or 0.08% to 7,399.25.

U.S. President Donald Trump wraps up his European tour on Monday with a one-on-one meeting with Russian President Vladimir Putin in Helsinki. Geopolitical analysts expect Putin to urge Trump to soften sanctions, while Trump has said he will discuss allegations of meddling in the 2016 election to the war in Syria.

Meanwhile earnings season continues in earnest on Monday, with Blackrock (NYSE:BLK) reporting higher than expected earnings results. Bank of America (NYSE:BAC) was up 0.53% after its financial results came in better than expected.

Netflix (NASDAQ:NFLX) is set to release its financial results after markets close. The streaming site rose 1.10% while Facebook (NASDAQ:FB) was up 0.24% and General Electric (NYSE:GE) inched up 0.36%. Microsoft (NASDAQ:MSFT) gained 0.47% and Cisco Systems (NASDAQ:CSCO) increased 0.34%.

Elsewhere Tesla (NASDAQ:TSLA) fell 0.90% as the luxury car maker announced its Model 3 is available for sale in all of North America, with expected delivery in one to three months.

In economic news, retail sales are set for 8:30 AM ET (12:30 GMT) while the New York Empire State Manufacturing Index comes out at the same time.

In Europe stocks were mostly down. Germany’s DAX rose 13 points or 0.10% while in France the CAC 40 decreased nine points or 0.18% and in London, the FTSE 100 fell 54 points or 0.71%. Meanwhile the pan-European Euro Stoxx 50 lost three points or 0.10% while Spain’s IBEX 35 inched down 18 points or 0.19%.

In commodities, gold futures rose 0.18% to $1,243.40 a troy ounce while crude oil futures decreased 1.83% to $68.67 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, was down 0.14% to 94.31.

Sri Lanka stocks lower at close of trade; CSE All-Share down 0.12%

Investing.com – Sri Lanka stocks were lower after the close on Monday, as losses in the Information Technology, Telecoms and Banking, Financials&Insurance sectors led shares lower.

At the close in Colombo, the CSE All-Share declined 0.12%.

The best performers of the session on the CSE All-Share were PCH Holdings PLC (CM:PCHH), which rose 40.00% or 0.200 points to trade at 0.700 at the close. Meanwhile, Amana Takaful PLC (CM:ATL) added 28.57% or 0.200 points to end at 0.900 and Associated Motor Finance Company PLC (CM:ASSO) was up 24.88% or 99.50 points to 499.50 in late trade.

The worst performers of the session were Blue Diamonds Jewellery Worldwide PLC (CM:BLUE), which fell 14.29% or 0.100 points to trade at 0.600 at the close. Shalimar Estates (CM:SHAL) declined 11.86% or 177.60 points to end at 1320.00 and Agstar PLC (CM:AGST) was down 10.26% or 0.40 points to 3.50.

Rising stocks outnumbered declining ones on the Colombo Stock Exchange by 85 to 70 and 58 ended unchanged.

Shares in Blue Diamonds Jewellery Worldwide PLC (CM:BLUE) fell to all time lows; losing 14.29% or 0.100 to 0.600. Shares in Associated Motor Finance Company PLC (CM:ASSO) rose to 52-week highs; up 24.88% or 99.50 to 499.50.

Crude oil for September delivery was down 1.83% or 1.28 to $68.67 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 1.99% or 1.50 to hit $73.83 a barrel, while the August Gold Futures contract rose 0.21% or 2.60 to trade at $1243.80 a troy ounce.

GBP/LKR was up 0.56% to 212.030, while USD/LKR rose 0.19% to 159.860.

The US Dollar Index Futures was down 0.17% at 94.28.

Dollar Slips Lower, Euro Pushes Up to Day’s Highs

Investing.com - The dollar slipped lower against a currency basket on Monday, having posted its largest weekly gain in a month last week as investors turned their attention to U.S. retail sales figures for June later in the session.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, slid 0.15% to 94.30 by 06:27 AM ET (10:27 AM GMT). The index rose 0.7% last week, its largest weekly percentage gain since mid-June.

Demand for the dollar continued to be underpinned as the risk of a further escalation in trade conflict and soft economic data out of China kept investors cautious.

Data overnight showed that China’s economy slowed in line with expectations in the second quarter, indicating that the trade dispute with the U.S. may be acting as a drag on growth.

Chinese GDP rose at an annual rate of 6.7% in the three months to June, down from 6.8% in the first quarter.

Also Monday, China said it had filed a complaint with the World Trade Organization over a U.S. threat to slap 10% tariffs on $200 billion of Chinese imports.

The move came after U.S. President Donald Trump alarmed European leaders over the weekend by declaring that the EU is a “foe” given how it trades with the U.S.

The euro rose to the day’s highs against the softer dollar, with EUR/USD adding on 0.2% to trade at 1.1709.

The dollar was little changed against the safe haven yen, with USD/JPY last at 112.38.

Investors were looking ahead to June retail sales figures from the U.S. later in the day.

The International Monetary Fund was also to release its latest World Economic Outlook later Monday.

Sterling pushed higher, with GBP/USD rising 0.21% to 1.3263 as investors continued to watch ongoing Brexit developments ahead of more crunch votes in the UK parliament this week, with Prime Minister Theresa May facing a rebellion from Brexit hardliners.

Economic Calendar: Top Things To Watch

Investing.com - On Monday, retail sales, business inventories and the New York Empire State Manufacturing Index are released.Earnings are due out from Netflix (NASDAQ:NFLX) (Monday), Goldman Sachs (NYSE:GS) (Tuesday), IBM (NYSE:IBM) (Wednesday) and Microsoft (NASDAQ:MSFT) (Thursday).On Tuesday, look for reports on capacity utilization, industrial production and the NAHB Housing Market Index. Fed Chairman Jerome Powell delivers his semi-annual monetary policy report to Congress on Tuesday and Wednesday.Housing starts and building permits are due out on Wednesday.

China stocks lower at close of trade; Shanghai Composite down 0.61%

Investing.com – China stocks were lower after the close on Monday, as losses in the Banking, Real Estate Investments&Services and Financials sectors led shares lower.

At the close in Shanghai, the Shanghai Composite fell 0.61%, while the SZSE Component index declined 0.10%.

The best performers of the session on the Shanghai Composite were Baotailong New Materials Co Ltd (SS:601011), which rose 10.07% or 0.550 points to trade at 6.010 at the close. Meanwhile, Fangxing Sci (SS:600552) added 10.07% or 0.460 points to end at 5.030 and Nanjing Xinjiekou Department Store Co Ltd (SS:600682) was up 10.04% or 1.38 points to 15.13 in late trade.

The worst performers of the session were Anji Foodstuff Co Ltd (SS:603696), which fell 10.02% or 2.060 points to trade at 18.500 at the close. Fujian Furi Electronics Co Ltd (SS:600203) declined 10.01% or 0.71 points to end at 6.38 and Ningxia Xinri Hengli Steel Wire Rope Co Ltd (SS:600165) was down 10.00% or 0.790 points to 7.110.

The top performers on the SZSE Component were Anhui Shengyun Environment-Protection Group Co Ltd (SZ:300090) which rose 10.05% to 4.05, Shenzhen Shenxin Taifeng Group Co Ltd (SZ:000034) which was up 10.03% to settle at 15.69 and ZTE Corp (SZ:000063) which gained 10.00% to close at 15.51.

The worst performers were Inner Mongolia Hotision Monsod (SZ:300355) which was down 10.03% to 5.29 in late trade, Guangdong Eastone Century Technology Co Ltd (SZ:300310) which lost 10.00% to settle at 5.13 and BGI Genomics Co Ltd (SZ:300676) which was down 10.00% to 92.30 at the close.

Falling stocks outnumbered advancing ones on the Shanghai Stock Exchange by 753 to 599 and 67 ended unchanged.

Shares in Anji Foodstuff Co Ltd (SS:603696) fell to 52-week lows; down 10.02% or 2.060 to 18.500. Shares in Fujian Furi Electronics Co Ltd (SS:600203) fell to 3-years lows; falling 10.01% or 0.71 to 6.38. Shares in Ningxia Xinri Hengli Steel Wire Rope Co Ltd (SS:600165) fell to 52-week lows; losing 10.00% or 0.790 to 7.110. Shares in Inner Mongolia Hotision Monsod (SZ:300355) fell to 52-week lows; down 10.03% or 0.59 to 5.29. Shares in Guangdong Eastone Century Technology Co Ltd (SZ:300310) fell to 3-years lows; losing 10.00% or 0.57 to 5.13.

The CBOE China Etf Volatility, which measures the implied volatility of Shanghai Composite options, was unchanged 0.00% to 21.80.

Gold Futures for August delivery was up 0.10% or 1.30 to $1242.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.84% or 0.59 to hit $69.36 a barrel, while the September Brent oil contract fell 0.37% or 0.28 to trade at $75.05 a barrel.

USD/CNY was down 0.00% to 6.6899, while EUR/CNY rose 0.05% to 7.8231.

The US Dollar Index Futures was unchanged 0.00% at 94.44.

Taiwan stocks lower at close of trade; Taiwan Weighted down 0.43%

Investing.com – Taiwan stocks were lower after the close on Monday, as losses in the , Electricity and Electronic Parts/Components sectors led shares lower.

At the close in Taiwan, the Taiwan Weighted fell 0.43%.

The best performers of the session on the Taiwan Weighted were Rexon Industrial Corp Ltd (TW:1515), which rose 9.97% or 4.35 points to trade at 48.00 at the close. Meanwhile, Century Iron And Steel Industrial Co Ltd (TW:9958) added 9.97% or 6.40 points to end at 70.60 and Advanced Power Electronics Corp (TW:8261) was up 9.90% or 5.00 points to 55.50 in late trade.

The worst performers of the session were Walsin Technology Corp (TW:2492), which fell 6.89% or 30.00 points to trade at 405.50 at the close. Tai Twun Enterprise Co Ltd (TW:3432) declined 6.41% or 1.35 points to end at 19.70 and Holy Stone Enterprise Co Ltd (TW:3026) was down 5.84% or 14.50 points to 234.00.

Falling stocks outnumbered advancing ones on the Taiwan Stock Exchange by 422 to 371 and 120 ended unchanged.

Crude oil for September delivery was down 0.93% or 0.65 to $69.30 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 0.85% or 0.64 to hit $74.69 a barrel, while the August Gold Futures contract rose 0.30% or 3.70 to trade at $1244.90 a troy ounce.

USD/TWD was down 0.11% to 30.545, while TWD/CNY rose 0.09% to 0.2196.

The US Dollar Index Futures was down 0.12% at 94.33.

Australia stocks lower at close of trade; S&P/ASX 200 down 0.45%

Investing.com – Australia stocks were lower after the close on Monday, as losses in the Gold, Healthcare and A-REITs sectors led shares lower.

At the close in Sydney, the S&P/ASX 200 lost 0.45%.

The best performers of the session on the S&P/ASX 200 were G8 Education Ltd (AX:GEM), which rose 5.88% or 0.140 points to trade at 2.520 at the close. Meanwhile, Inghams Group Ltd (AX:ING) added 4.53% or 0.17 points to end at 3.92 and Sigma Pharmaceuticals Ltd (AX:SIG) was up 4.21% or 0.020 points to 0.495 in late trade.

The worst performers of the session were Orocobre Ltd (AX:ORE), which fell 4.44% or 0.250 points to trade at 5.380 at the close. Evolution Mining Ltd (AX:EVN) declined 4.53% or 0.150 points to end at 3.160 and Western Areas Ltd (AX:WSA) was down 3.99% or 0.145 points to 3.485.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 604 to 575 and 350 ended unchanged.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 5.27% to 12.619.

Gold Futures for August delivery was up 0.31% or 3.90 to $1245.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.73% or 0.51 to hit $69.44 a barrel, while the September Brent oil contract fell 0.62% or 0.47 to trade at $74.86 a barrel.

AUD/USD was up 0.15% to 0.7434, while AUD/JPY rose 0.18% to 83.56.

The US Dollar Index Futures was down 0.08% at 94.36.

Australian Dollar Falls after Weak China Data

Investing.com – The Australian Dollar depreciated against the dollar following the release of a slew of China data on Monday.

China’s economy expanded by 6.7% in the second quarter, its slowest pace since 2016, although the growth is still above the government’s target of “about 6.5%” growth for the year.

While the official GDP readings were largely in line with market expectations, the country’s industrial output grew 6% year-on-year in June, which was slower than the expected 6.5%. The weak industrial production was cited as the catalyst for the selling in the Aussie dollar, which is usually seen as a proxy for China.

The AUD/USD pair traded at 0.7412 by 12:30AM ET (04:30 GMT), after clocking a high of 0.7436 earlier today.

Retail sales on the other hand rose 9% year-on-year in June, beating the general consensus of a 8.8% increase, although its impact on the forex markets seemed to be limited.

Elsewhere, the USD/CNY pair slipped 0.03% to 6.6889. The People's Bank of China (PBOC) set the yuan reference rate at 6.6758 on Monday versus Friday's day's fix of 6.6727.

The U.S. Dollar Index, which tracks the greenback against a basket of other currencies, was down 0.03% at 94.41 on Monday.

The yen was little changed as the USD/JPY pair edged 0.03% higher to 112.45, hovering near a six-month high of 112.79 set on Friday.

U.S. President Donald Trump's summit with his Russian counterpart in Helsinki later in the day will also be closely watched, as Trump played down expectations over the weekend for the upcoming talks.

“No matter how well I do at the Summit, if I was given the great city of Moscow as retribution for all of the sins and evils committed by Russia over the years, I would return to criticism that it wasn’t good enough,” Trump said in a series of tweets.

Oil Prices Edge Lower; Trump-Putin Summit In Focus

Investing.com – Oil prices edged lower on Monday as traders awaited the outcome of the first offcial dialogue between U.S. President Donald Trump and Russian President Vladimir Putin summit in Helsinki later in the day.

Crude Oil WTI Futures for September delivery were trading at $69.53 a barrel at 12:05AM ET (04:05 GMT), down 0.6%. Brent Oil Futures for September delivery, traded in London, were also down 0.5% at $74.92 per barrel.

"A summit between U.S. President Trump and Russian President Putin is being watched in case they say something about oil," said Kim Kwang-rae, commodity analyst at Samsung (KS:005930) Futures in Seoul.

Trump has been vocal about his dissatisfaction with higher oil prices and has urged OPEC to lower prices earlier this month.

Reports that the U.S. is considering to rein in prices by tapping into its emergency crude supplies were also cited as headwind for oil prices.

The Trump’s administration is reportedly mulling the release of oil from the nation’s 660-million-barrel Strategic Petroleum Reserve to stabilize rallying gasoline prices.

The continued trade concerns between the U.S. and China remained in focus, as traders fear the development could threaten global demand.

Treasury Secretary Steven Mnuchin said on Thursday that he and the administration are “available” for discussion, but China must first agree to deeper economic reforms. 

“To the extent that China wants to make structural changes, I and the administration are available,” Mnuchin said on Thursday. “We are not advocating tariffs. We are advocating fair trade.” 

Meanwhile, Supply disruptions resulting from strike actions in Norway and Iraq eased on Monday, while reports that Libyan ports resumed export activities pushed oil prices lower.

"Crude oil prices fell as fears of supply disruptions eased. News that Libya's state oil producer had restarted output from a major oil field ignited the selloff earlier in the week," ANZ Bank said in a note.

Bitcoin Rises; South Korea’s Bithumb to Expand into Japan, Thailand

Investing.com – Bitcoin and other major cryptocurrencies rose on Monday, while reports that South Korea's second largest crypto exchange Bithumb is expanding into Japan and Thailand raised some eyebrows.

Bitcoin was trading at $6,370.8 by 11:40PM ET (03:40 GMT) on the Bitfinex exchange, up 1.6% in the last 24 hours.

Ethereum, the world’s second largest cryptocurrency by market cap, gained 3.2% to $448.8 on the Bitifinex exchange.

Ripple’s XRP token was also up 1.9% to $0.44643 on the Poloniex exchange.

Meanwhile, Litecoin climbed 1.9% and traded at $78.6.

Bithumb announced over the weekend that it is currently working on obtaining regulatory approval from the financial regulators of both Thailand and Japan.

The South Korea-based exchange said it has already established a Thai subsidiary with registered capital of 3 million baht, and that it expects services in Thailand to beginning at the end of October.

Meanwhile, the exchange is also applying for approval from Japan’s FSA in order to open an exchange in the country in February 2019. “It plans to set up an exchange that supports the largest number of coins in Japan,” a local publication revealed.

Bithumb said it was looking for partners for its global expansion earlier this year.

“Bithumb is preparing exchange platforms for countries under the global expansion plan and we are looking for great and potential partners (corporation, entity or group) worldwide…The exchange platforms under final development stages are USD / JYP / EUR / CNY / INR / GBP / AUD / CAD / PHP / RUB and [there] will be more soon when there are any service demands,” The exchange said earlier this year.

South Korea media outlet reported that Bithumb has also established a subsidiary in Singapore and Britain. “We are considering establishing overseas subsidiaries in various countries such as the U.S. and Europe, but the time has not yet been determined,” the exchange clarified.

Israel stocks lower at close of trade; TA 35 down 0.07%

Investing.com – Israel stocks were lower after the close on Sunday, as losses in the Banking, Biomed and Technology sectors led shares lower.

At the close in Tel Aviv, the TA 35 lost 0.07%.

The best performers of the session on the TA 35 were Partner (TA:PTNR), which rose 7.00% or 98 points to trade at 1498 at the close. Meanwhile, Paz Oil (TA:PZOL) added 2.53% or 1270 points to end at 51450 and Bazan Oil Refineries Ltd (TA:ORL) was up 2.48% or 4.0 points to 165.0 in late trade.

The worst performers of the session were OPKO Health Inc (TA:OPK), which fell 6.65% or 150 points to trade at 2105 at the close. Teva Pharmaceutical Industries Ltd (TA:TEVA) declined 2.15% or 187 points to end at 8509 and Tower Semiconductor Ltd (TA:TSEM) was down 1.29% or 102 points to 7819.

Rising stocks outnumbered declining ones on the Tel Aviv Stock Exchange by 193 to 178 and 35 ended unchanged.

Shares in Tower Semiconductor Ltd (TA:TSEM) fell to 52-week lows; down 1.29% or 102 to 7819.

Crude oil for September delivery was unchanged 0.00% or 0.00 to $69.95 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.55% or 0.41 to hit $74.86 a barrel, while the August Gold Futures contract fell 0.39% or 4.80 to trade at $1241.80 a troy ounce.

USD/ILS was down 0.03% to 3.6378, while EUR/ILS rose 0.10% to 4.2514.

The US Dollar Index Futures was down 0.14% at 94.44.

Israel stocks lower at close of trade; TA 35 down 0.07%

Investing.com – Israel stocks were lower after the close on Sunday, as losses in the Banking, Biomed and Technology sectors led shares lower.

At the close in Tel Aviv, the TA 35 lost 0.07%.

The best performers of the session on the TA 35 were Partner (TA:PTNR), which rose 7.00% or 98 points to trade at 1498 at the close. Meanwhile, Paz Oil (TA:PZOL) added 2.53% or 1270 points to end at 51450 and Bazan Oil Refineries Ltd (TA:ORL) was up 2.48% or 4.0 points to 165.0 in late trade.

The worst performers of the session were OPKO Health Inc (TA:OPK), which fell 6.65% or 150 points to trade at 2105 at the close. Teva Pharmaceutical Industries Ltd (TA:TEVA) declined 2.15% or 187 points to end at 8509 and Tower Semiconductor Ltd (TA:TSEM) was down 1.29% or 102 points to 7819.

Rising stocks outnumbered declining ones on the Tel Aviv Stock Exchange by 193 to 178 and 35 ended unchanged.

Shares in Tower Semiconductor Ltd (TA:TSEM) fell to 52-week lows; losing 1.29% or 102 to 7819.

Crude oil for September delivery was unchanged 0.00% or 0.00 to $69.95 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.55% or 0.41 to hit $74.86 a barrel, while the August Gold Futures contract fell 0.39% or 4.80 to trade at $1241.80 a troy ounce.

USD/ILS was down 0.03% to 3.6378, while EUR/ILS rose 0.10% to 4.2514.

The US Dollar Index Futures was down 0.14% at 94.44.

United Arab Emirates stocks higher at close of trade; DFM General up 0.55%

Investing.com – United Arab Emirates stocks were higher after the close on Sunday, as gains in the Insurance, Consumer Staples and Telecoms sectors led shares higher.

At the close in Dubai, the DFM General rose 0.55%, while the ADX General index gained 0.20%.

The best performers of the session on the DFM General were Takaful House (DU:DTKF), which rose 14.94% or 0.115 points to trade at 0.885 at the close. Meanwhile, Dubai Islamic Insurance Co. (DU:AMAN) added 8.58% or 0.060 points to end at 0.759 and Islamic Arab Insurance Company (DU:SALAMA) was up 5.46% or 0.022 points to 0.425 in late trade.

The worst performers of the session were Gulf General Investments Company (DU:GGIC), which fell 1.41% or 0.004 points to trade at 0.280 at the close. Amanat Holdings PJSC (DU:AMANT) declined 0.79% or 0.010 points to end at 1.260 and National Central Cooling Co. (DU:TABR) was down 0.57% or 0.010 points to 1.750.

The top performers on the ADX General were Methaq (AD:METH) which rose 6.49% to 0.820, Invest Bank AD (AD:INVB) which was up 3.33% to settle at 2.480 and Dana Gas (AD:DANA) which gained 2.88% to close at 1.070.

The worst performers were Em Driving Co (AD:DRIV) which was down 8.11% to 6.80 in late trade, Sharjah Islami (AD:SIB) which lost 2.44% to settle at 1.200 and International Holding Company PJSC (AD:IHC) which was down 2.26% to 1.30 at the close.

Rising stocks outnumbered declining ones on the Dubai Stock Exchange by 24 to 7 and 3 ended unchanged; on the Abu Dhabi, 16 rose and 10 declined, while 6 ended unchanged.

Shares in Em Driving Co (AD:DRIV) fell to 52-week lows; falling 8.11% or 0.60 to 6.80.

Crude oil for August delivery was up 0.33% or 0.23 to $70.56 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.55% or 0.41 to hit $74.86 a barrel, while the August Gold Futures contract fell 0.39% or 4.80 to trade at $1241.80 a troy ounce.

USD/AED was up 0.01% to 3.6732, while EUR/AED rose 0.12% to 4.2919.

The US Dollar Index Futures was down 0.14% at 94.44.

United Arab Emirates stocks higher at close of trade; DFM General up 0.55%

Investing.com – United Arab Emirates stocks were higher after the close on Sunday, as gains in the Insurance, Consumer Staples and Telecoms sectors led shares higher.

At the close in Dubai, the DFM General gained 0.55%, while the ADX General index added 0.20%.

The best performers of the session on the DFM General were Takaful House (DU:DTKF), which rose 14.94% or 0.115 points to trade at 0.885 at the close. Meanwhile, Dubai Islamic Insurance Co. (DU:AMAN) added 8.58% or 0.060 points to end at 0.759 and Islamic Arab Insurance Company (DU:SALAMA) was up 5.46% or 0.022 points to 0.425 in late trade.

The worst performers of the session were Gulf General Investments Company (DU:GGIC), which fell 1.41% or 0.004 points to trade at 0.280 at the close. Amanat Holdings PJSC (DU:AMANT) declined 0.79% or 0.010 points to end at 1.260 and National Central Cooling Co. (DU:TABR) was down 0.57% or 0.010 points to 1.750.

The top performers on the ADX General were Methaq (AD:METH) which rose 6.49% to 0.820, Invest Bank AD (AD:INVB) which was up 3.33% to settle at 2.480 and Dana Gas (AD:DANA) which gained 2.88% to close at 1.070.

The worst performers were Em Driving Co (AD:DRIV) which was down 8.11% to 6.80 in late trade, Sharjah Islami (AD:SIB) which lost 2.44% to settle at 1.200 and International Holding Company PJSC (AD:IHC) which was down 2.26% to 1.30 at the close.

Rising stocks outnumbered declining ones on the Dubai Stock Exchange by 24 to 7 and 3 ended unchanged; on the Abu Dhabi, 16 rose and 10 declined, while 6 ended unchanged.

Shares in Em Driving Co (AD:DRIV) fell to 52-week lows; losing 8.11% or 0.60 to 6.80.

Crude oil for August delivery was up 0.33% or 0.23 to $70.56 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.55% or 0.41 to hit $74.86 a barrel, while the August Gold Futures contract fell 0.39% or 4.80 to trade at $1241.80 a troy ounce.

USD/AED was up 0.01% to 3.6732, while EUR/AED rose 0.12% to 4.2919.

The US Dollar Index Futures was down 0.14% at 94.44.

Gold / Silver / Copper Prices - Weekly Outlook: July 16 - 20

Investing.com - The strong dollar looks likely to remain a significant headwind for gold this week, with bearish price action in the precious metal looking set to continue despite growing risk aversion.

Metals traders will be looking ahead to Federal Reserve Chairman Jerome Powell’s testimony on the economy and monetary policy to a Senate committee on Tuesday.

Powell will likely face questions on a wide range of economic issues, including the potential effect of the Trump administration’s trade policy on the economy.

Markets will be eyeing the outcome of a meeting between U.S. President Donald Trump and his Russian counterpart Vladimir Putin on Monday amid heightened geopolitical tensions.

Investors will also get updates on U.S. retail sales, housing data and industrial production this week.

Gold prices slid on Friday to settle at their lowest level in nearly a year as the dollar posted solid gains for the week.

Gold futures for August delivery settled down 0.39% at $1,241.80 on the Comex division of the New York Mercantile Exchange. For the week, prices were down 1%, the fourth weekly loss in five weeks.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, ended the week with gains of 0.71%. A stronger U.S. currency makes gold and other dollar-denominated commodities more expensive for holders of other currencies.

Demand for the dollar has been underpinned as recent economic data indicated that the Federal Reserve is likely to remain on track to raise interest rates twice more this year.

The U.S. currency has also been boosted as rising trade tensions fueled safe haven demand for the dollar and acted as a drag on other currencies.

The Trump administration said last week that it plans to impose 10% tariffs on an additional $200 billion in Chinese imports.

Gold prices have failed to garner any support despite growing risk aversion, suggesting the yellow metal is losing its safe haven status.

Elsewhere in precious metals trading, silver settled down 0.89% at $15.83 a troy ounce, for a weekly loss of 0.91%.

Platinum settled at $831.70, 1.74% lower for the day to end the week with a loss of 1.81%. It was the fifth consecutive weekly loss.

Among base metals, copper for July delivery ended at $2.777, off 0.14% for the day, to end the week down 1.28%.

Ahead of the coming week, Investing.com has compiled a list of significant events likely to affect the markets.

Monday, July 16

Financial markets in Japan will be closed for a holiday.

China is to release data on second quarter growth, fixed asset investment and industrial production.

Canada is to report on foreign securities purchases.

The U.S. is to publish retail sales figures and a report on manufacturing activity in the New York region.

Tuesday, July 17

New Zealand is to release data on consumer price inflation.

The Reserve Bank of Australia is to publish the minutes of its latest policy setting meeting.

Bank of England Governor Mark Carney is to speak and the UK is to publish its latest employment report.

Canada is to report on manufacturing sales.

The U.S. is to publish data on industrial production.

Later in the day, Fed Chairman Jerome Powell is to testify on the monetary policy report before the Senate Banking Committee, in Washington.

Wednesday, July 18

The UK is to publish its latest inflation report.

The euro zone is to release revised inflation figures.

The U.S. is to publish report on building permits and housing starts. Meanwhile, Fed Chairman Jerome Powell is to testify on the monetary policy report for a second day Washington.

Thursday, July 19

Australia is to publish its latest employment report.

The UK is to release data on retail sales.

The U.S. is to publish reports on jobless claims and manufacturing activity in the Philadelphia region.

Friday, July 20

The UK is to report on public sector borrowing.

Finance ministers from the G20 group of nations are to hold the first day of a summit meeting in Buenos Aires.

Canada is to round up the week with data on retail sales and inflation.

Weekly Outlook: July 16 - 20

Investing.com - Investors will be looking ahead to Federal Reserve Chairman Jerome Powell’s testimony on the economy and monetary policy to a Senate committee on Tuesday.

Powell will likely face questions on a wide range of economic issues, including the potential effect of the Trump administration’s trade policy on the economy.

Markets will be eyeing the outcome of a meeting between U.S. President Donald Trump and his Russian counterpart Vladimir Putin on Monday amid heightened geopolitical tensions.

Investors will also get updates on U.S. retail sales, housing data and industrial production.

The dollar dipped against a currency basket on Friday, pulling away from two week highs, but still notched up a weekly gain and prospects for a stronger dollar remain intact for now.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.14% at 92.44 in late trade, after hitting a high of 95.00, the most since June 29. For the week, the index rose 0.71%.

Demand for the dollar has been underpinned as recent economic data indicated that the Federal Reserve is likely to remain on track to raise interest rates twice more this year.

The U.S. currency has also been boosted as rising trade tensions fueled safe haven demand for the dollar and acted as a drag on other currencies.

The Trump administration said last week that it plans to impose 10% tariffs on an additional $200 billion in Chinese imports.

The dollar eased from six-month highs against the yen on Friday, with USD/JPY dipping 0.12% to 112.38, off an earlier high of 112.79. For the week the paid climbed 1.76%.

The euro edged higher against the dollar in late trade, with EUR/USD rising 0.13% to 1.1686, up from an earlier two-week low of 1.1613. For the week the euro lost 0.52% against the dollar.

Sterling also pushed higher late Friday, with GBP/USD gaining 0.23% to trade at 1.3235. Despite Friday’s modest gains the pound still end the week down 0.44%.

Ahead of the coming week, Investing.com has compiled a list of significant events likely to affect the markets.

Monday, July 16

Financial markets in Japan will be closed for a holiday.

China is to release data on second quarter growth, fixed asset investment and industrial production.

Canada is to report on foreign securities purchases.

The U.S. is to publish retail sales figures and a report on manufacturing activity in the New York region.

Tuesday, July 17

New Zealand is to release data on consumer price inflation.

The Reserve Bank of Australia is to publish the minutes of its latest policy setting meeting.

Bank of England Governor Mark Carney is to speak and the UK is to publish its latest employment report.

Canada is to report on manufacturing sales.

The U.S. is to publish data on industrial production.

Later in the day, Fed Chair Powell is to testify on the monetary policy report before the Senate Banking Committee, in Washington.

Wednesday, July 18

The UK is to publish its latest inflation report.

The euro zone is to release revised inflation figures.

The U.S. is to publish report on building permits and housing starts. Meanwhile, Fed Chairman Jerome Powell is to testify on the monetary policy report for a second day Washington.

Thursday, July 19

Australia is to publish its latest employment report.

The UK is to release data on retail sales.

The U.S. is to publish reports on jobless claims and manufacturing activity in the Philadelphia region.

Friday, July 20

The UK is to report on public sector borrowing.

Finance ministers from the G20 group of nations are to hold the first day of a summit meeting in Buenos Aires.

Canada is to round up the week with data on retail sales and inflation.

Economic Calendar - Top 5 Things To Watch This Week

Investing.com - Geopolitics could hang over the market in the coming week, as investors look ahead to an unprecedented meeting between U.S. President Donald Trump and Russian President Vladimir Putin on Monday.

The week ahead also marks the first big week of the second-quarter earnings season on Wall Street, with names like Netflix, Goldman Sachs, IBM and Microsoft set to report.

There will also be important testimony from Federal Reserve Chair Jerome Powell, who appears Tuesday and Wednesday before congressional panels on the economy and monetary policy.

Several important economic reports also expected, with retail sales on Monday topping the list.

Elsewhere, in Asia, China is slated to release what will be closely watched second-quarter growth data, amid warnings from analysts that the recent trade dispute with the U.S. could drag on economic activity.

Market focus is also largely attuned to the next potential steps of the U.S.-China trade conflict. The U.S. threatened 10% tariffs on an extra $200 billion worth of Chinese imports last week. However, a lack of response from China to these levies so far has assuaged some fears of conflict escalation.

Trade-war fears have been simmering for months, keeping market gains in check with investors jittery over the prospects of further escalation in tensions between the world's two largest economies having an impact on economic growth.

Ahead of the coming week, Investing.com has compiled a list of the five biggest events on the economic calendar that are most likely to affect the markets.

1. Trump-Putin Summit

U.S. President Donald Trump and Russian President Vladimir Putin hold their first summit in Helsinki, Finland on Monday.

Neither side expects the one-day summit to yield major policy breakthroughs given the battered state of U.S.-Russia relations, which are languishing at their lowest ebb since the Cold War.

Geopolitical analysts expect Putin to urge Trump to soften sanctions imposed over Ukraine, while Trump has said he will press Putin on everything from allegations of meddling in the 2016 U.S. election to the war in Syria.

On Friday, some lawmakers pressed Trump to cancel the summit after Special Counsel Robert Mueller indicted 12 Russians for interfering in the general election.

Meanwhile, European leaders will be watching the outcome closely, especially after Trump called Germany a "captive" of Russia at a testy NATO summit in Belgium last week, due to its plans for a major new gas pipeline.

2. U.S. Q2 Earnings Season Kicks Into High Gear

There are about 60 S&P 500 companies reporting earnings in the week ahead, including seven Dow stocks, in what will be the first big week of the second-quarter earnings season.

Bank of America (NYSE:BAC) and BlackRock (NYSE:BLK) report Monday, along with tech darling Netflix (NASDAQ:NFLX).

Tuesday sees Goldman Sachs (NYSE:GS), Johnson & Johnson (NYSE:JNJ) and UnitedHealth (NYSE:UNH) post results.

On Wednesday, Morgan Stanley (NYSE:MS), American Express (NYSE:AXP) and IBM (NYSE:IBM) report earnings.

Microsoft (NASDAQ:MSFT), Advanced Micro Devices (NASDAQ:AMD) and Blackstone (NYSE:BX) are on the docket Thursday.

Finally, corporate results from General Electric (NYSE:GE) and Honeywell (NYSE:HON) round up the week on Friday.

Analysts have said they are expecting another strong quarter, with earnings growth at around 21%, according to Thomson Reuters data. However, the season is being clouded by trade tensions and their impact on corporate profits, with analysts likely to scrutinize outlook statements to see if companies discuss the impact of Trump's trade policies on future spending plans, input costs and profitability.

3. Fed Chair Powell Testifies

Federal Reserve Chair Jerome Powell is set to deliver his semi-annual monetary policy testimony on the economy before Senate and House committees in Washington DC.

Powell is scheduled to testify on the economy before the Senate Banking Committee at 10:00AM ET Tuesday. On Wednesday, he will appear in front the House Financial Services Committee also at 10AM ET.

Text of the testimony will be released 90 minutes before he starts speaking.

Powell's comments will be monitored closely for further clues on when and how fast the Fed will raise interest rates.

The Fed's semi-annual report on monetary policy, sent to Congress last Friday, pointed to "solid" U.S. economic growth and reiterated its plans to continue raising interest rates gradually.

4. U.S. Retail Sales

The Commerce Department will publish data on retail sales for June at 8:30AM ET Monday.

The consensus forecast is that the report will show retail sales rose 0.4% last month, moderating from a gain of 0.8% in May.

Excluding the automobile sector, sales are expected to increase 0.4%, after a 0.9% rise a month earlier.

Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy. Consumer spending accounts for as much as 70% of U.S. economic growth.

Besides the retail sales report, this week's calendar also features U.S. data on building permits, housing starts, industrial production, as well as surveys on manufacturing conditions in the Philadelphia and New York regions.

On the central bank front, the Federal Reserve's Beige Book will be in focus.

The U.S. central bank hiked interest rates last month for the second time this year and has projected two more rate increases by year-end.

Traders are currently pricing in around an 85% chance of a rate hike in September, according to Investing.com’s Fed Rate Monitor Tool. Odds of a fourth rate hike by December was seen at about 55%.

5. China Q2 GDP

China will be the first major economy to report second-quarter growth data when it publishes its GDP numbers at around 0200GMT on Monday (10:00PM ET Sunday).

The report is expected to show the world's second-largest economy grew 6.7% in the April-June period, moderating slightly from growth of 6.8% in the first quarter.

The Asian nation will also publish data on June industrial production, fixed asset investment and retail sales along with the GDP report.

China, the world's largest exporter, has so far escaped any major blow to its foreign trade sector despite rising trade tensions with the U.S.

Washington and Beijing appeared increasingly headed toward open trade conflict after several rounds of negotiations failed to resolve U.S. complaints over Chinese industrial policies, lack of market access in China and a $375 billion U.S. trade deficit.

Stay up-to-date on all of this week's economic events by visiting: http://www.investing.com/economic-calendar/

Peru stocks higher at close of trade; S&P Lima General up 0.10%

Investing.com – Peru stocks were higher after the close on Friday, as gains in the Non-Metal Minerals, Industrials and Services sectors led shares higher.

At the close in Lima, the S&P Lima General rose 0.10%.

The best performers of the session on the S&P Lima General were Cerro Verde (LM:CVE), which rose 4.65% or 1.000 points to trade at 22.500 at the close. Meanwhile, Grana Y Monter (LM:GRA) added 3.90% or 0.090 points to end at 2.400 and Edegel (LM:EDE) was up 3.02% or 0.060 points to 2.050 in late trade.

The worst performers of the session were Candente Copper (LM:DNT), which fell 1.79% or 0.0010 points to trade at 0.0550 at the close. Aceros Arequip (LM:AREi) declined 1.33% or 0.010 points to end at 0.740 and Credicorp (LM:BAP) was down 0.87% or 2.00 points to 227.00.

Rising stocks outnumbered declining ones on the Lima Stock Exchange by 10 to 8 and 18 ended unchanged.

Crude oil for August delivery was up 0.33% or 0.23 to $70.56 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.55% or 0.41 to hit $74.86 a barrel, while the August Gold Futures contract fell 0.39% or 4.80 to trade at $1241.80 a troy ounce.

USD/PEN was down 0.13% to 3.2687, while EUR/PEN fell 0.18% to 3.8173.

The US Dollar Index Futures was down 0.14% at 94.44.

Top 5 Things That Moved Markets This Past Week

Investing.com – Top 5 things that rocked U.S. markets this week:

1. Amazon Jumps for the Week; Netflix Sees Earnings Jitters

Wall Street ended the week higher, with all the major indices closing in the green.

Tech stocks were winners for the week. The tech-heavy Nasdaq finished up more than 1% and the S&P Technology Index rose more than 2%.

Among the big winners in tech land was Amazon (NASDAQ:AMZN). The stock got a boost on a price target raise by Canaccord to $2,000 from $1,800 Thursday and again when S.G. Cowen raised its price target on the stock to $2,100 from $2,000 Friday.

In the rest of the FAANG stocks, Alphabet’s Google (NASDAQ:GOOGL), Apple (NASDAQ:AAPL) and Facebook (NASDAQ:FB) all closed up for the week.

But Netflix (NASDAQ:NFLX), which reports earnings after the bell Monday, ended in the red, hurt by Friday selloff. There are likely a few jitters about what numbers Netflix would have to report to spur more buying with the stock up around 100% year to date.

2. Inflation Data Lets Fed Stay Steady on Rates

Inflation data was paramount during the week, especially after last Friday’s employment report gave mixed signals of strong continued job creation but weaker-than-expected wage growth.

The numbers grabbing the headlines were the levels in wholesale and retail inflation not seen for a while.

The producer price index (PPI) was up 3.4% in June year over year, the highest level in 6-1/2 years. The June consumer price index (CPI) posted a year-over-year rise of 2.9%, the largest rise in six years.

But the stock market tends to focus more on the month-on-month numbers and those figures were mixed. CPI was in line with expectations month over month, while core CPI, which excludes volatile food and energy prices, was up less than expected. PPI and core PPI came in just a little hotter than expectations.

So, while prices are definitely rising, the economy is so far avoiding the spikes that would fuel fears over interest rates rising quickly.

More significant for those zoned in on the Fed’s rate-hike path than the inflation data was likely the shift of Chicago Fed President Charles Evans comments in a wide-ranging interview with The Wall Street Journal that the economy could handle a move to neutral rates. That was interpreted to mean he’d support two rate-hikes this year.

There is currently a more-than-80% of a rate hike in September and a more-than-55% chance of one in December, according to Investing.com’s Rate Monitor Tool.

3. Delta Results Steal the Spotlight From Banks

The bank earnings were supposed be the highlight of the week. But the mixed results from Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM) and Wells Fargo (NYSE:WFC) failed to spur anything but a muted reaction from the market Friday.

Instead, Delta Air Lines (NYSE:DAL) likely offered the most insight for investors. Shares climbed Thursday after the carrier beat second-quarter profit expectations thanks to fair increases.

But it also highlighted a jump in fuel costs of nearly 40% in the quarter, a $2 billion increase.

That’s trouble for the airline sector as whole, which is already struggling in 2018. The Dow Transports are off about 0.6% year to date. But there could be more weakness ahead if fuel costs remain high and companies like FedEx (NYSE:FDX) and UPS (NYSE:UPS) are hit by trade battles.

4. Trade War Jitters Abate (Somewhat)

Until earnings arrived in earnest Friday, the summer, low-volume market has been especially susceptible to the vagaries of trade tensions.

The week started off with more saber rattling between the U.S. and its trade partners. The U.S. released a list on Tuesday of $200 billion more in Chinese goods that it would assess for tariffs of 10%. China again promised retaliation.

That same day, ahead of his trip to Europe, President Donald Trump tweeted that the U.S. loses $151 billion on trade with the EU and that the single bloc charges the U.S. big tariffs and enacts trade barriers.

But worries were assuaged on Thursday when Treasury Secretary Steve Mnuchin said there was a possibility that the U.S. and China could restart trade talks. And the president, while hammering allies of NATO spending, has not made any remarks about specific trade action against Europe.

The rosier outlook on trade was reflected in the performance of Boeing (NYSE:BA), which is particularly sensitive to trade battles given the amount of its overseas business.

Boeing was one of the best Dow performers for the week.

5. Oil Holds Above $70

Oil prices fell for the week, but energy stock bulls will be heartened by crude oil’s ability to stay above $70 mark on Friday.

Crude oil futures for August delivery settled at $71.01 per barrel, up 1% on the day.

Oil did dip below $70 in morning trading, rose steadily through the rest of the day, then sold off late. The latest Baker Hughes rig count showing no change added some support to prices.

For the week, mixed signals on supplies scaled back investor expectations for a global supply shortage as Libya resumed exports, U.S. supplies fell more than expected, while bets on a significant loss of Iranian crude were trimmed.

Mexico stocks lower at close of trade; S&P/BMV IPC down 0.60%

Investing.com – Mexico stocks were lower after the close on Friday, as losses in the Materials, Telecoms Services and Consumer Goods&Services sectors led shares lower.

At the close in Mexico, the S&P/BMV IPC lost 0.60%.

The best performers of the session on the S&P/BMV IPC were El Puerto De Liverpool Sab De CV (MX:LIVEPOLC1), which rose 2.43% or 3.28 points to trade at 138.14 at the close. Meanwhile, VOLARIS A (MX:VOLARA) added 2.08% or 0.25 points to end at 12.25 and Alfa, S.A.B. De C.V. (MX:ALFAA) was up 2.05% or 0.460 points to 22.930 in late trade.

The worst performers of the session were GMexico Transportes SA de CV (MX:GMXT), which fell 4.02% or 1.180 points to trade at 28.440 at the close. Grupo Aeroportuario Del CentroNorte (MX:OMAB) declined 2.32% or 2.540 points to end at 107.120 and Grupo Elektra , S.A.B. De C.V. (MX:ELEKTRA) was down 2.14% or 13.23 points to 606.34.

Falling stocks outnumbered advancing ones on the Mexico Stock Exchange by 153 to 137 and 5 ended unchanged.

Gold Futures for August delivery was down 0.43% or 5.40 to $1241.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.36% or 0.25 to hit $70.58 a barrel, while the September Brent oil contract rose 0.54% or 0.40 to trade at $74.85 a barrel.

USD/MXN was down 0.42% to 18.8970, while EUR/MXN fell 0.32% to 22.0821.

The US Dollar Index Futures was down 0.13% at 94.45.

Canada stocks lower at close of trade; S&P/TSX Composite down 0.14%

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

At the close in Toronto, the S&P/TSX Composite lost 0.14%.

The best performers of the session on the S&P/TSX Composite were CES Energy Solutions Corp (TO:CEU), which rose 3.24% or 0.150 points to trade at 4.780 at the close. Meanwhile, PrairieSky Royalty Ltd (TO:PSK) added 2.85% or 0.70 points to end at 25.22 and Birchcliff Energy Ltd . (TO:BIR) was up 2.81% or 0.14 points to 5.13 in late trade.

The worst performers of the session were Alaris Royalty Corp . (TO:AD), which fell 3.68% or 0.600 points to trade at 15.710 at the close. Cascades Inc . (TO:CAS) declined 3.68% or 0.44 points to end at 11.52 and Aurora Cannabis Inc (TO:ACB) was down 3.47% or 0.310 points to 8.620.

Rising stocks outnumbered declining ones on the Toronto Stock Exchange by 566 to 506 and 131 ended unchanged.

Shares in Cascades Inc. (TO:CAS) fell to 52-week lows; falling 3.68% or 0.44 to 11.52.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was up 6.07% to 13.46.

Gold Futures for August delivery was down 0.42% or 5.20 to $1241.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.47% or 0.33 to hit $70.66 a barrel, while the September Brent oil contract rose 0.60% or 0.45 to trade at $74.90 a barrel.

CAD/USD was down 0.03% to 0.7600, while CAD/EUR fell 0.14% to 0.6505.

The US Dollar Index Futures was down 0.12% at 94.46.

Brazil stocks higher at close of trade; Bovespa up 0.98%

Investing.com – Brazil stocks were higher after the close on Friday, as gains in the Financials, Real Estate and Consumption sectors led shares higher.

At the close in Sao Paulo, the Bovespa rose 0.98% to hit a new 1-month high.

The best performers of the session on the Bovespa were Raia Drogasil SA (SA:RADL3), which rose 5.13% or 3.65 points to trade at 74.75 at the close. Meanwhile, Multiplan SA (SA:MULT3) added 4.50% or 2.55 points to end at 59.24 and Cvc Brasil ON (SA:CVCB3) was up 4.37% or 1.81 points to 43.25 in late trade.

The worst performers of the session were Ultrapar Participacoes SA (SA:UGPA3), which fell 4.94% or 2.24 points to trade at 43.10 at the close. Embraer SA (SA:EMBR3) declined 4.62% or 1.00 points to end at 20.66 and Cia Paranaense de Energia (SA:CPLE6) was down 1.89% or 0.41 points to 21.32.

Rising stocks outnumbered declining ones on the BM&FBovespa Stock Exchange by 252 to 183 and 27 ended unchanged.

Shares in Ultrapar Participacoes SA (SA:UGPA3) fell to 5-year lows; falling 4.94% or 2.24 to 43.10.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was up 1.29% to 32.96.

Gold Futures for August delivery was down 0.40% or 5.00 to $1241.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.44% or 0.31 to hit $70.64 a barrel, while the September US coffee C contract fell 1.57% or 1.75 to trade at $109.97 .

USD/BRL was down 0.72% to 3.8544, while EUR/BRL fell 0.60% to 4.5037.

The US Dollar Index Futures was down 0.13% at 94.45.

Colombia stocks higher at close of trade; COLCAP up 0.08%

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

At the close in Colombia, the COLCAP gained 0.08%.

The best performers of the session on the COLCAP were Conconcret (CN:CIC), which rose 3.81% or 29.0 points to trade at 790.0 at the close. Meanwhile, Avianca Holdings Pf (CN:AVT_p) added 0.86% or 20.0 points to end at 2350.0 and Interconnection Electric SA ESP (CN:ISA) was up 0.57% or 80.0 points to 14020.0 in late trade.

The worst performers of the session were Bancolombia Pf (CN:BIC_p1), which fell 0.85% or 300.0 points to trade at 35100.0 at the close. Cementos Argos Pf (CN:CCB_p) added 0.12% or 10.0 points to end at 8380.0 and Grupoaval (CN:GAA) was down 0.83% or 10.0 points to 1190.0.

Rising stocks outnumbered declining ones on the Colombia Stock Exchange by 16 to 11 and 6 ended unchanged.

US coffee C for September delivery was down 1.57% or 1.75 to $109.97 . Elsewhere in commodities trading, US cocoa for delivery in September rose 0.99% or 24.50 to hit $2506.00 , while the August Gold Futures contract fell 0.42% or 5.20 to trade at $1241.40 a troy ounce.

USD/COP was down 0.57% to 2859.00, while BRL/COP rose 0.26% to 743.00.

The US Dollar Index Futures was down 0.12% at 94.46.

Crude Oil Prices Settle Higher, But Can't Avoid Weekly Slump Amid Rising Supply

Investing.com – WTI crude oil prices settled higher Friday, but posted steep losses for the week, as traders eased bets on a global supply shortage in the wake of resuming crude flows from Libya and expectations the decline in Iranian exports would be less severe than anticipated.

On the New York Mercantile Exchange crude futures for August delivery rose 1.00% to settle at $71.01 a barrel, while on London's Intercontinental Exchange, Brent rose 1.5% to trade at $75.56 a barrel.

Crude oil prices fell nearly 4% for the week as mixed signals on supplies scaled back investor expectations for a global supply shortage. Libya resumed exports, U.S. supplies fell more than expected, while bets on a significant loss of Iranian crude were trimmed.

Data showing inventories of U.S. crude fell by 12.633 million barrels for the week ended July 6 were overshadowed by Libya's announcement that it would reopen four oil export terminals, which some analysts said could see as much as 0.7 million barrels per day return to the market.

That came as investors were mulling the prospect of a less severe loss of Iran crude after U.S. Secretary of State Mike Pompeo said the White House would consider extending sanctions relief to some oil buyers of Iranian crude beyond the previously announced November deadline.

Rising OPEC output also weighed on sentiment as the oil-cartel revealed earlier this week its members had increased output last month, led by a rise in Saudi output to levels not seen since the output-cut agreement in 2016.

The International Energy Agency's warning of a potential capacity crunch had a limited impact on markets.

"In June, Iran's crude exports fell back by about 230,000 barrels a day, albeit from a relatively high level in May, as European purchases dropped by nearly 50%," the agency said.

Sentiment on oil prices on Friday were also helped by data pointing to signs of a pause in the pace of U.S. output, which remains unchanged at 10.9 million barrels a day.

Oilfield services firm Baker Hughes reported its weekly U.S. rig count was unchanged at 863.

Gold Prices On-Track for Lowest Settlement in 2-Weeks; Metal Prices Steady

Investing.com – Gold prices hovered above fresh seven-month lows Friday, as a weaker dollar failed to lift sentiment, while other metals steadied as trade war concerns eased.

Gold futures for August delivery on the Comex division of the New York Mercantile Exchange fell by $5.30, or 0.43%, to $1,241.30 a troy ounce.

Gold prices resumed their decline and remained on track for their lowest settlement in nearly two weeks as easing trade-war concerns offset the dollar's retreat against its rivals from a two-week high.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.01% to 94.58, but remained well below its intraday of high of 95.00.

Dollar-denominated commodities such as gold are sensitive to moves in the dollar. A rise in the dollar makes gold more expensive for holders of foreign currency, reducing demand for the precious metal.

Downside momentum in other metals was somewhat limited by easing trade-war concerns as traders brushed off the possibility of an uptick in China-U.S. trade tensions, despite data showing China's surplus with the U.S. rose to record $29 billion.

The sharp uptick in exports, which significantly boosted the surplus, was said to be unsustainable, and likely the result of Chinese exporters rushing shipments before U.S. tariffs went into effect in the first week of July.

Copper prices, fell 0.07% to $2.78, while zinc prices settled 0.08% lower at 2,581.25

Aluminium prices fell 0.17% to 2,039.75, while Nickel futures settled nearly 2% lower at 13,955.00.

Silver futures fell 0.98% to $15.82 a troy ounce, while platinum futures fell 1.89% to $830.40 to near 10-year lows on expectations of lower demand from the automotive sector amid potential tariffs that could hurt carmakers.

Nigeria stocks higher at close of trade; NSE 30 up 0.59%

Investing.com – Nigeria stocks were higher after the close on Friday, as gains in the Oil&Gas, Food, Beverages&Tobacco and Banking sectors led shares higher.

At the close in Lagos, the NSE 30 gained 0.59%.

The best performers of the session on the NSE 30 were Wapco (LAGOS:WAPCO), which rose 8.70% or 3.00 points to trade at 35.55 at the close. Meanwhile, Union Bank LG (LAGOS:UBN) added 3.45% or 0.20 points to end at 5.80 and Dangsugar (LAGOS:DANGSUG) was up 2.94% or 0.50 points to 17.50 in late trade.

The worst performers of the session were Pz Cussons LG (LAGOS:PZ), which fell 9.74% or 1.85 points to trade at 17.15 at the close. Skye Bank (LAGOS:SKYEBAN) declined 3.08% or 0.020 points to end at 0.650 and Uacn Prop (LAGOS:UACN) was down 1.48% or 0.20 points to 13.30.

Falling stocks outnumbered advancing ones on the Lagos by 61 to 29 and 17 ended unchanged.

Shares in Pz Cussons LG (LAGOS:PZ) fell to 52-week lows; down 9.74% or 1.85 to 17.15.

Crude oil for August delivery was up 1.00% or 0.70 to $71.03 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.10% or 0.82 to hit $75.27 a barrel, while the August Gold Futures contract fell 0.38% or 4.70 to trade at $1241.90 a troy ounce.

EUR/NGN was down 0.07% to 355.640, while USD/NGN unchanged 0.00% to 361.000.

The US Dollar Index Futures was up 0.01% at 94.58.

Dollar Retreats From 2-Week Highs as GBP/USD Rebounds

Investing.com – The dollar retreated from a two-week high against its rivals Friday, pressured by a rebound in the pound from an 11-day low.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell by 0.01% to 94.56, after hitting a two-week high of 95.00.

GBP/USD rebounded from an 11-day low of $1.3103 to $1.3213, after U.S. President Donald Trump walked back his criticism of British Prime Minister Theresa May, and claimed a U.K.-U.S. trade deal was still possible.

That eased investor fears that Britain would struggle to secure a trade deal with the United States as Trump had reportedly told the Sun newspaper on Thursday that May's Brexit plan may "kill" Britain's chances of such a deal.

Elsewhere, China's trade surplus with the U.S. hit a record of nearly $29 billion, raising the risk of deepening its trade-related rift with the United States.

That, however, failed to trigger significant demand for safe-haven yen and Swiss franc as the latter fell modestly against the greenback.

USD/JPY fell 0.07% to Y112.44, while USD/CHF rose 0.03% to 1.0027.

The Federal Reserve's release of a monetary policy report to Congress in advance of Fed chairman Powell's testimony before the Senate due Tuesday, also had a muted impact on the dollar.

The Fed gave a positive assessment of the U.S. economy, insisting that strong labor markets and inflation would support the central bank's plan to continue with gradual rate hikes.

EUR/USD fell 0.02% to $1.1669, while the USD/CAD rose 0.11% to C$1.3169, as gains in the latter pair were limited by rising oil prices – a boon for the loonie.

Portugal stocks lower at close of trade; PSI 20 down 0.26%

Investing.com – Portugal stocks were lower after the close on Friday, as losses in the Utilities, Technology and Consumer Goods sectors led shares lower.

At the close in Lisbon, the PSI 20 lost 0.26%.

The best performers of the session on the PSI 20 were F.Rama (LS:RAMA), which rose 6.32% or 0.600 points to trade at 10.100 at the close. Meanwhile, J. Martins SGPS (LS:JMT) added 0.72% or 0.0900 points to end at 12.6700 and CTT Correios de Portugal SA (LS:CTT) was up 0.55% or 0.0160 points to 2.9060 in late trade.

The worst performers of the session were Pharol SGPS SA (LS:PHRA), which fell 2.20% or 0.0055 points to trade at 0.2440 at the close. EDP (LS:EDP) declined 1.17% or 0.0410 points to end at 3.4600 and The Navigator Company SA (LS:NVGR) was down 1.07% or 0.0550 points to 5.0750.

Falling stocks outnumbered advancing ones on the Lisbon Stock Exchange by 22 to 9 and 6 ended unchanged.

Brent oil for September delivery was up 1.22% or 0.91 to $75.36 a barrel. Elsewhere in commodities trading, Crude oil for delivery in August rose 1.00% or 0.70 to hit $71.03 a barrel, while the August Gold Futures contract fell 0.35% or 4.40 to trade at $1242.20 a troy ounce.

EUR/USD was up 0.01% to 1.1672, while EUR/GBP fell 0.07% to 0.8831.

The US Dollar Index Futures was down 0.01% at 94.56.

CFDs and FX are leveraged products. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, CFDs may not be suitable for all investors because you may lose all your invested capital. Please refer to the full Risk Disclaimer.