Philippines stocks lower at close of trade; PSEi Composite down 0.15%

Investing.com – Philippines stocks were lower after the close on Tuesday, as losses in the Mining&Oil, Banking&Financials and Property sectors led shares lower.

At the close in Philippines, the PSEi Composite lost 0.15%.

The best performers of the session on the PSEi Composite were Manila Electric Co (PS:MER), which rose 2.31% or 7.40 points to trade at 328.40 at the close. Meanwhile, Megaworld Corp (PS:MEG) added 1.96% or 0.090 points to end at 4.680 and Ayala Corp (PS:AC) was up 1.49% or 14.00 points to 954.00 in late trade.

The worst performers of the session were Semirara Mining Corp (PS:SCC), which fell 3.04% or 0.90 points to trade at 28.75 at the close. Metro Pacific Investments Corp (PS:MPI) declined 2.06% or 0.100 points to end at 4.750 and GT Capital Holdings Inc (PS:GTCAP) was down 1.97% or 20.00 points to 995.00.

Falling stocks outnumbered advancing ones on the Philippines Stock Exchange by 109 to 79 and 44 ended unchanged.

Gold Futures for June delivery was up 0.19% or 2.40 to $1293.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 0.44% or 0.32 to hit $72.67 a barrel, while the July Brent oil contract rose 0.67% or 0.53 to trade at $79.75 a barrel.

CNY/PHP was up 0.16% to 8.2123, while USD/PHP fell 0.08% to 52.305.

The US Dollar Index Futures was down 0.19% at 93.28.

Gold Prices Edge Higher But Stay Near Yearly Lows

Investing.com - Gold prices were little changed in early dealings on Tuesday, hovering not far off a 2018 low struck in the previous session, as improved appetite for riskier assets sapped demand for the yellow metal.

Comex gold futures were up around 0.1% at $1,291.30 a troy ounce by 4:10AM ET (0810GMT). In the previous session, it slid to as low as $1,281.20, its weakest level since December 27.

Gold's losses on Monday came after a truce between the United States and China calmed fears that a trade war might be imminent.

Washington and Beijing both claimed victory on Monday as the world's two largest economies stepped back from the brink of a global trade war and agreed to hold further talks to boost U.S. exports to China.

That news boosted U.S. equities and Treasury yields, underpinning the dollar as a result and weighing on gold.

Looking ahead, the market is awaiting the minutes of the Federal Reserve's last policy meeting due to be released on Wednesday.

Expectations that the U.S. central bank will lift U.S. interest rates again next month have added to recent downward pressure on gold.

Higher U.S. rates tend to boost the dollar and push bond yields up, make non-yielding assets like bullion less attractive.

Among other precious metals, silver and palladium were both slightly higher at $16.59 an ounce and $991.30 an ounce, respectively.

Platinum rose 0.4% at $903.30 an ounce, after marking a fresh low for the year in the previous session at $873.50.

Meanwhile, copper rose 0.9% to $3.126 a pound on renewed optimism about global growth after the U.S./China agreement.

Oil Prices Hold Near 2014 Highs Amid Global Supply Jitters

Investing.com - Oil prices edged higher on Tuesday, staying near their strongest levels in three-and-a-half-years as investors fretted over the future output from Venezuela and Iran.

New York-traded WTI crude futures tacked on 35 cents, or roughly 0.5%, to $72.70 a barrel by 3:40AM ET (0740GMT), a level last seen in November 2014.

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., ticked up 53 cents, or about 0.7%, to $79.75 a barrel, not far from recent highs of $80.50 scaled last week.

Oil prices rallied on Monday over concerns that the U.S. will impose new sanctions on Venezuela after President Nicolas Maduro won a second six-year term in a weekend vote his critics denounced as a farce cementing autocracy in the crisis-stricken oil producer.

Venezuela's oil output has already dropped by a third in two years to its lowest level in decades.

Concerns that looming U.S. sanctions on Iran will curb that country's crude exports also boosted prices.

The White House laid out new demands for Iran on Monday, which said any new nuclear deal with the U.S. would require Iran to stop enriching uranium and to pull its support for militant groups in the Middle East.

Iran is a major Middle East oil producer and member of the Organization of the Petroleum Exporting Countries (OPEC).

Oil market participants now looked ahead to fresh weekly data on U.S. commercial crude inventories to gauge the strength of demand in the world’s largest oil consumer.

Industry group the American Petroleum Institute is due to release its weekly report at 4:30PM ET (2030GMT). Official data from the Energy Information Administration will be released Wednesday, amid forecasts for an oil-stock drop of around 2.8 million barrels.

China stocks higher at close of trade; Shanghai Composite up 0.02%

Investing.com – China stocks were higher after the close on Tuesday, as gains in the Oil Equipment Services&Distribution, Gas, Water&Multiutilities and Retailers sectors led shares higher.

At the close in Shanghai, the Shanghai Composite added 0.02% to hit a new 1-month high, while the SZSE Component index climbed 0.00%.

The best performers of the session on the Shanghai Composite were Suzhou Douson Drilling&Production Equipment Co Ltd (SS:603800), which rose 10.02% or 1.820 points to trade at 19.990 at the close. Meanwhile, Chahua Modern Housewares Co Ltd (SS:603615) added 10.01% or 1.32 points to end at 14.51 and GuangDong Super Telecom Co Ltd (SS:603322) was up 10.00% or 3.210 points to 35.320 in late trade.

The worst performers of the session were Qian Jiang Water Resources Development Co Ltd (SS:600283), which fell 5.63% or 0.770 points to trade at 12.900 at the close. Future Land Holdings Co Ltd (SS:601155) declined 4.78% or 1.530 points to end at 30.470 and Poly Real Estate Group Co Ltd (SS:600048) was down 3.93% or 0.540 points to 13.210.

The top performers on the SZSE Component were Harbin Gloria Pharmaceuticals (SZ:002437) which rose 10.02% to 6.26, Shaanxi J&R Fire Protection Co Ltd (SZ:300116) which was up 7.49% to settle at 4.02 and Fujian Sunner Development Co Ltd (SZ:002299) which gained 6.70% to close at 16.56.

The worst performers were Focused Photonics Hangzhou Inc (SZ:300203) which was down 4.44% to 26.26 in late trade, Goldleaf Jewelry Co Ltd (SZ:000587) which lost 3.57% to settle at 7.02 and Shenzhen Shenxin Taifeng Group Co Ltd (SZ:000034) which was down 3.48% to 22.22 at the close.

Rising stocks outnumbered declining ones on the Shanghai Stock Exchange by 714 to 583 and 83 ended unchanged.

The CBOE China Etf Volatility, which measures the implied volatility of Shanghai Composite options, was unchanged 0.00% to 20.68.

Gold Futures for June delivery was down 0.04% or 0.50 to $1290.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 0.51% or 0.37 to hit $72.72 a barrel, while the July Brent oil contract rose 0.74% or 0.59 to trade at $79.81 a barrel.

USD/CNY was down 0.13% to 6.3745, while EUR/CNY fell 0.13% to 7.5160.

The US Dollar Index Futures was down 0.09% at 93.38.

Australia stocks lower at close of trade; S&P/ASX 200 down 0.71%

Investing.com – Australia stocks were lower after the close on Tuesday, as losses in the IT, Telecoms Services and Gold sectors led shares lower.

At the close in Sydney, the S&P/ASX 200 declined 0.71%.

The best performers of the session on the S&P/ASX 200 were James Hardie Industries PLC (AX:JHX), which rose 4.01% or 0.900 points to trade at 23.350 at the close. Meanwhile, Blackmores Ltd (AX:BKL) added 2.10% or 2.62 points to end at 127.62 and Asaleo Care (AX:AHY) was up 2.22% or 0.030 points to 1.380 in late trade.

The worst performers of the session were Altium Ltd (AX:ALU), which fell 7.48% or 1.710 points to trade at 21.160 at the close. Technology One Ltd (AX:TNE) declined 6.06% or 0.300 points to end at 4.650 and G8 Education Ltd (AX:GEM) was down 4.32% or 0.115 points to 2.545.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 757 to 485 and 368 ended unchanged.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 13.18% to 13.466 a new 1-month high.

Gold Futures for June delivery was down 0.02% or 0.30 to $1290.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 0.36% or 0.26 to hit $72.61 a barrel, while the July Brent oil contract rose 0.32% or 0.25 to trade at $79.47 a barrel.

AUD/USD was up 0.12% to 0.7590, while AUD/JPY rose 0.01% to 84.20.

The US Dollar Index Futures was down 0.02% at 93.44.

U.S. stocks higher at close of trade; Dow Jones Industrial Average up 1.21%

Investing.com – U.S. stocks were higher after the close on Monday, as gains in the Telecoms, Industrials and Oil&Gas sectors led shares higher.

At the close in NYSE, the Dow Jones Industrial Average rose 1.21% to hit a new 1-month high, while the S&P 500 index gained 0.74%, and the NASDAQ Composite index added 0.54%.

The best performers of the session on the Dow Jones Industrial Average were Boeing Co (NYSE:BA), which rose 3.61% or 12.69 points to trade at 363.92 at the close. Meanwhile, United Technologies Corporation (NYSE:UTX) added 2.28% or 2.86 points to end at 128.05 and Caterpillar Inc (NYSE:CAT) was up 2.06% or 3.21 points to 158.92 in late trade.

The worst performers of the session were Merck&Company Inc (NYSE:MRK), which fell 0.96% or 0.57 points to trade at 58.57 at the close. Johnson&Johnson (NYSE:JNJ) declined 0.42% or 0.52 points to end at 123.72 and Nike Inc (NYSE:NKE) was up 0.08% or 0.06 points to 71.38.

The top performers on the S&P 500 were Chesapeake Energy Corporation (NYSE:CHK) which rose 13.55% to 4.610, Range Resources Corporation (NYSE:RRC) which was up 6.00% to settle at 16.08 and Kimco Realty Corporation (NYSE:KIM) which gained 4.20% to close at 14.64.

The worst performers were Fifth Third Bancorp (NASDAQ:FITB) which was down 7.93% to 30.90 in late trade, Celgene Corporation (NASDAQ:CELG) which lost 4.70% to settle at 74.69 and Symantec Corporation (NASDAQ:SYMC) which was down 2.70% to 21.59 at the close.

The top performers on the NASDAQ Composite were SenesTech Inc (NASDAQ:SNES) which rose 296.07% to 1.25, Alliance MMA Inc (NASDAQ:AMMA) which was up 65.63% to settle at 0.62 and Adomani Inc (NASDAQ:ADOM) which gained 51.79% to close at 1.70.

The worst performers were MabVax Therapeutics Holdings Inc (NASDAQ:MBVX) which was down 23.16% to 1.360 in late trade, Sesen Bio Inc (NASDAQ:SESN) which lost 23.00% to settle at 2.3100 and Carver Bancorp Inc (NASDAQ:CARV) which was down 18.51% to 6.780 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 2149 to 932 and 112 ended unchanged; on the Nasdaq Stock Exchange, 1498 rose and 1068 declined, while 104 ended unchanged.

Shares in Celgene Corporation (NASDAQ:CELG) fell to 3-years lows; down 4.70% or 3.68 to 74.69. Shares in Nike Inc (NYSE:NKE) rose to all time highs; gaining 0.08% or 0.06 to 71.38.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 2.38% to 13.10.

Gold Futures for June delivery was up 0.07% or 0.90 to $1292.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 1.70% or 1.21 to hit $72.58 a barrel, while the July Brent oil contract rose 1.18% or 0.93 to trade at $79.44 a barrel.

EUR/USD was up 0.17% to 1.1791, while USD/JPY rose 0.23% to 111.02.

The US Dollar Index Futures was down 0.15% at 93.44.

Canada stocks higher at close of trade; S&P/TSX Composite up 0.12%

Investing.com – Canada stocks were higher after the close on Monday, as gains in the Healthcare, IT and Clean Technology sectors led shares higher.

At the close in Toronto, the S&P/TSX Composite gained 0.12% to hit a new 3-months high.

The best performers of the session on the S&P/TSX Composite were Aurora Cannabis Inc (TO:ACB), which rose 9.72% or 0.700 points to trade at 7.900 at the close. Meanwhile, Canopy Growth Corp (TO:WEED) added 8.72% or 2.890 points to end at 36.030 and Torex Gold Resources Inc (TO:TXG) was up 3.90% or 0.500 points to 13.320 in late trade.

The worst performers of the session were Labrador Iron Ore Royalty Corp (TO:LIF), which fell 3.07% or 0.67 points to trade at 21.15 at the close. Element Fleet Management Corp (TO:EFN) declined 2.51% or 0.15 points to end at 5.82 and Trican Well Service Ltd . (TO:TCW) was down 2.31% or 0.080 points to 3.380.

Falling stocks outnumbered advancing ones on the Toronto Stock Exchange by 0 to 0.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was down 1.07% to 11.97 a new 1-month low.

Gold Futures for June delivery was up 0.08% or 1.00 to $1292.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 1.67% or 1.19 to hit $72.56 a barrel, while the July Brent oil contract rose 1.18% or 0.93 to trade at $79.44 a barrel.

CAD/USD was up 0.72% to 0.7818, while CAD/EUR rose 0.59% to 0.6632.

The US Dollar Index Futures was down 0.14% at 93.45.

Colombia stocks lower at close of trade; COLCAP down 0.25%

Investing.com – Colombia stocks were lower after the close on Monday, as losses in the Investment, Industrials and Financials sectors led shares lower.

At the close in Colombia, the COLCAP fell 0.25% to hit a new 1-month low.

The best performers of the session on the COLCAP were Cemargos (CN:CCB), which rose 2.07% or 180.0 points to trade at 8880.0 at the close. Meanwhile, Corporacion Financiera Colombiana SA (CN:CFV) added 2.24% or 520.0 points to end at 23780.0 and Etb (CN:ETB) was up 1.82% or 7.0 points to 392.0 in late trade.

The worst performers of the session were Cemex Latam Holdings SA (CN:CLH), which fell 3.50% or 300.0 points to trade at 8260.0 at the close. Canacol Energy Ltd (CN:CNE) declined 0.32% or 30.0 points to end at 9390.0 and Bancolombia Pf (CN:BIC_p1) was down 0.55% or 180.0 points to 32620.0.

Falling stocks outnumbered advancing ones on the Colombia Stock Exchange by 15 to 11 and 6 ended unchanged.

US coffee C for July delivery was up 1.66% or 1.96 to $120.08 . Elsewhere in commodities trading, US cocoa for delivery in July fell 2.08% or 55.50 to hit $2616.00 , while the June Gold Futures contract rose 0.05% or 0.60 to trade at $1291.90 a troy ounce.

USD/COP was down 1.50% to 2877.50, while BRL/COP fell 0.03% to 781.44.

The US Dollar Index Futures was down 0.12% at 93.47.

Crude Oil Prices Settle Higher Amid Rising Geopolitical Uncertainty

Investing.com – WTI crude oil prices settled higher on Monday as geopolitical uncertainty rose after weekend elections in Venezuela viewed as illegitimate raised the prospect of US sanctions on the country’s exports.

On the New York Mercantile Exchange crude futures for July delivery rose 1.4% to settle at $72.24 a barrel, while on London's Intercontinental Exchange, Brent gained 1.06% to trade at $79.36 a barrel.

Venezuela’s Nicolas Maduro risked further pressure from the International community as his re-election win on Sunday, raised the prospect of US sanctions on the Venezuela, which would further batter the country’s beleaguered energy industry.

Ahead of U.S. sanctions on Iran, meanwhile, U.S. Secretary of State Mike Pompeo threatened even tougher sanctions against the Islamic Republic. Pompeo claimed the sanctions would be the “strongest in history when complete.”

The prospect for a disruption to global oil supplies is expected to increase the pace of rebalancing in the oil market, prompting analysts to raise their forecast for oil prices.

Citigroup raised its base-case oil-price forecast by $10 a barrel in 2018, up to $75 barrel annual average and said oil prices would continue to trend higher through 2018.

"Our expectation for balancing, from a market currently in deficit, has been pushed to the second quarter of 2019 from the third quarter of 2018 period we expected previously," Citigroup said.

The bank sees Venezuelan production likely falling below 1 million barrels per day before the end of the year. Output in Venezuela has dropped by a third in two years to its lowest in decades, according to Reuters.

Traders, continued, however, to take profits on the recent rally in oil prices as data showed they cut their bullish bets on crude oil for the fourth straight week.

CFTC COT data showed money managers reduced their net long positions in crude futures to 644,400 lots from 679,900 lots for the week ended May 16.

Gold Prices Rise From Lows as Dollar Pares Gains

Investing.com – Gold prices rose from lows on Monday on dollar weakness but remained under pressure amid easing trade war fears and signs of waning demand for the yellow metal.

Gold futures for June delivery on the Comex division of the New York Mercantile Exchange fell by $1.20, or 0.10%, to $1,291.30 a troy ounce.

Gold prices recovered from lows of $1,281.20 as the dollar’s leap to a fresh five-month high was met with resistance, curbing downside momentum in the precious metal.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose to a fresh five-month high of 93.94 before paring most of its gains.

A stronger dollar makes gold more expensive for holders of foreign currency, reducing demand for the yellow metal.

After posting its worst weekly loss for the year on Friday, gold had started the week on the back foot as U.S. Treasury Secretary Steven Mnuchin’s comments of a pause on the U.S.-China trade war, weighed on safe-haven demand.

“We’re putting the trade war on hold,” Mnuchin said on Fox News Sunday.

Demand for gold appeared to be waning as data on Friday showed that traders were less optimistic on upside in the yellow metal, trimming their holdings of gold last week.

CFTC COT data showed money managers reduced their net long positions in gold futures to 92,400 lots from 107,400 lots for the week ended May 16.

In other precious metal trade, silver futures rose 0.27% to $16.50 a troy ounce, while platinum futures gained 0.96% to $895.00 an ounce.

Copper rose 1% to $3.094.

Nigeria stocks lower at close of trade; NSE 30 down 0.18%

Investing.com – Nigeria stocks were lower after the close on Monday, as losses in the Insurance, Banking and Food, Beverages&Tobacco sectors led shares lower.

At the close in Lagos, the NSE 30 fell 0.18% to hit a new 1-month low.

The best performers of the session on the NSE 30 were Union Bank LG (LAGOS:UBN), which rose 4.92% or 0.30 points to trade at 6.10 at the close. Meanwhile, Diamond Bank (LAGOS:DIAMONB) added 4.52% or 0.070 points to end at 1.620 and Fidelitybk (LAGOS:FIDELIT) was up 2.33% or 0.050 points to 2.200 in late trade.

The worst performers of the session were Pz Cussons LG (LAGOS:PZ), which fell 4.81% or 1.05 points to trade at 20.80 at the close. Guiness Nig (LAGOS:GUINNES) declined 2.84% or 2.95 points to end at 101.05 and Fbn Holdings (LAGOS:FBNH) was down 2.71% or 0.300 points to 10.750.

Falling stocks outnumbered advancing ones on the Lagos by 55 to 42 and 10 ended unchanged.

Crude oil for July delivery was up 1.16% or 0.83 to $72.20 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 0.71% or 0.56 to hit $79.07 a barrel, while the June Gold Futures contract rose 0.01% or 0.10 to trade at $1291.40 a troy ounce.

EUR/NGN was down 0.26% to 423.040, while USD/NGN rose 0.14% to 361.000.

The US Dollar Index Futures was down 0.02% at 93.56.

Morocco stocks lower at close of trade; Moroccan All Shares down 0.34%

Investing.com – Morocco stocks were lower after the close on Monday, as losses in the Oil&Gas, Real Estate and Distributors sectors led shares lower.

At the close in Casablanca, the Moroccan All Shares declined 0.34% to hit a new 3-months low.

The best performers of the session on the Moroccan All Shares were BMCI (CS:BMCI), which rose 5.82% or 55 points to trade at 1000 at the close. Meanwhile, Cartier Saada (CS:CRS) added 3.25% or 0.78 points to end at 24.78 and Atlanta (CS:ATL) was up 3.11% or 2.38 points to 79.00 in late trade.

The worst performers of the session were Stroc Industrie (CS:STR), which fell 7.62% or 3.30 points to trade at 40.00 at the close. Centrale Danone (CS:CDA) declined 5.64% or 42 points to end at 707 and Involys (CS:INV) was down 5.12% or 6.50 points to 120.50.

Falling stocks outnumbered advancing ones on the Casablanca Stock Exchange by 22 to 4 and 5 ended unchanged.

Shares in Stroc Industrie (CS:STR) fell to 52-week lows; down 7.62% or 3.30 to 40.00.

Crude oil for July delivery was up 1.08% or 0.77 to $72.14 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 0.65% or 0.51 to hit $79.02 a barrel, while the June Gold Futures contract fell 0.14% or 1.80 to trade at $1289.50 a troy ounce.

EUR/MAD was up 0.03% to 11.1210, while USD/MAD rose 0.04% to 9.4511.

The US Dollar Index Futures was up 0.03% at 93.61.

Portugal stocks higher at close of trade; PSI 20 up 0.60%

Investing.com – Portugal stocks were higher after the close on Monday, as gains in the Technology, Basic Materials and Financials sectors led shares higher.

At the close in Lisbon, the PSI 20 rose 0.60%.

The best performers of the session on the PSI 20 were Banco Comercial Portugues (LS:BCP), which rose 1.82% or 0.0050 points to trade at 0.2790 at the close. Meanwhile, The Navigator Company SA (LS:NVGR) added 1.50% or 0.0800 points to end at 5.4150 and Altri SGPS (LS:ALSS) was up 1.44% or 0.1100 points to 7.7300 in late trade.

The worst performers of the session were Sonae (LS:YSO), which fell 1.38% or 0.0160 points to trade at 1.1440 at the close. Pharol SGPS SA (LS:PHRA) declined 1.28% or 0.0035 points to end at 0.2700 and REN (LS:RENE) was down 0.38% or 0.0100 points to 2.6140.

Rising stocks outnumbered declining ones on the Lisbon Stock Exchange by 18 to 12 and 6 ended unchanged.

Shares in The Navigator Company SA (LS:NVGR) rose to all time highs; gaining 1.50% or 0.0800 to 5.4150. Shares in Altri SGPS (LS:ALSS) rose to all time highs; rising 1.44% or 0.1100 to 7.7300.

Brent oil for July delivery was up 0.53% or 0.42 to $78.93 a barrel. Elsewhere in commodities trading, Crude oil for delivery in July rose 0.97% or 0.69 to hit $72.06 a barrel, while the June Gold Futures contract fell 0.18% or 2.30 to trade at $1289.00 a troy ounce.

EUR/USD was unchanged 0.00% to 1.1771, while EUR/GBP rose 0.45% to 0.8778.

The US Dollar Index Futures was up 0.01% at 93.59.

Dollar Retreats as EUR/USD Claws Back Losses

Investing.com – The dollar eased from fresh five month highs as gains on the back of abating trade war fears were offset by a recovery in the euro from multi-month lows.

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 93.59, easing from a five-month high of 93.97.

EUR/USD rose 0.03% to $1.1774, bouncing from a five-month low of $1.1717 but market participants said the rally would be temporary as ongoing political uncertainty in Italy would keep a lid on upside momentum.

“Political uncertainty in Italy, slowing growth in Europe, stronger growth in the US, and dollar friendly Treasury yields should continue to keep EUR/USD in sell-the-rally mode,” said Action Economics.

Prior to retreating, the dollar was up sharply as U.S. Treasury Secretary Steven Mnuchin’s comments of a pause on the U.S.-China trade war, triggered a wave of buys on the greenback against safe-haven currencies like the yen.

“We’re putting the trade war on hold,” Mnuchin said on Fox News Sunday.

USD/JPY rose 0.29% to Y11.09, after hitting a high of Y111.40.

A slump in GBP/USD to $1.3409, down 0.45%, added support for the greenback amid ongoing Brexit concerns and raft of recent weaker U.K. economic data.

USD/CAD fell 0.54% to C$1.2815 as a surge in oil prices supported the Canadian dollar, weighing on the pair.

The uptick in oil prices come as Venezuela’s Nicolas Maduro risked further pressure from the International community following his re-election win on Sunday, raising the prospect of further sanctions on the country, stifling its beleaguered energy industry.

Finland stocks higher at close of trade; OMX Helsinki 25 up 0.74%

Investing.com – Finland stocks were higher after the close on Monday, as gains in the Oil&Gas, Consumer Goods and Consumer Services sectors led shares higher.

At the close in Helsinki, the OMX Helsinki 25 added 0.74% to hit a new all time high.

The best performers of the session on the OMX Helsinki 25 were Neste Oil Oyj (HE:NESTE), which rose 2.86% or 1.96 points to trade at 70.40 at the close. Meanwhile, Nokian Renkaat Oyj (HE:NRE1V) added 1.97% or 0.65 points to end at 33.61 and Amer Sports Corporation (HE:AMEAS) was up 1.68% or 0.44 points to 26.68 in late trade.

The worst performers of the session were Orion Oyj B (HE:ORNBV), which fell 0.80% or 0.22 points to trade at 27.41 at the close. Valmt (HE:VALMT) declined 0.68% or 0.11 points to end at 16.10 and Tieto Oyj (HE:TIETO) was down 0.60% or 0.18 points to 29.82.

Rising stocks outnumbered declining ones on the Helsinki Stock Exchange by 98 to 48 and 17 ended unchanged.

Shares in Neste Oil Oyj (HE:NESTE) rose to all time highs; up 2.86% or 1.96 to 70.40. Shares in Amer Sports Corporation (HE:AMEAS) rose to 52-week highs; rising 1.68% or 0.44 to 26.68.

Brent oil for July delivery was up 0.41% or 0.32 to $78.83 a barrel. Elsewhere in commodities trading, Crude oil for delivery in July rose 0.85% or 0.61 to hit $71.98 a barrel, while the June Gold Futures contract fell 0.22% or 2.90 to trade at $1288.40 a troy ounce.

EUR/USD was down 0.01% to 1.1770, while EUR/GBP rose 0.43% to 0.8777.

The US Dollar Index Futures was up 0.03% at 93.61.

Italy stocks higher at close of trade; Investing.com Italy 40 up 0.17%

Investing.com – Italy stocks were higher after the close on Monday, as gains in the Travel&Leisure, Technology and Healthcare sectors led shares higher.

At the close in Milan, the Investing.com Italy 40 added 0.17%.

The best performers of the session on the Investing.com Italy 40 were Fiat Chrysler Automobiles NV (MI:FCHA), which rose 2.61% or 0.484 points to trade at 19.034 at the close. Meanwhile, Saipem SpA (MI:SPMI) added 2.16% or 0.0830 points to end at 3.9200 and CNH Industrial NV (MI:CNHI) was up 1.67% or 0.180 points to 10.975 in late trade.

The worst performers of the session were Intesa Sanpaolo (MI:ISP), which fell 7.33% or 0.220 points to trade at 2.780 at the close. UnipolSai Assicurazioni SpA (MI:US) declined 6.76% or 0.142 points to end at 1.960 and Banca Generali (MI:BGN) was down 5.16% or 1.28 points to 23.52.

Falling stocks outnumbered advancing ones on the Milan Stock Exchange by 187 to 161 and 27 ended unchanged.

Shares in Banca Generali (MI:BGN) fell to 52-week lows; losing 5.16% or 1.28 to 23.52.

Crude oil for July delivery was up 0.84% or 0.60 to $71.97 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 0.39% or 0.31 to hit $78.82 a barrel, while the June Gold Futures contract fell 0.23% or 3.00 to trade at $1288.30 a troy ounce.

EUR/USD was down 0.02% to 1.1769, while EUR/GBP rose 0.43% to 0.8777.

The US Dollar Index Futures was up 0.03% at 93.61.

Spain stocks lower at close of trade; IBEX 35 down 0.45%

Investing.com – Spain stocks were lower after the close on Monday, as losses in the Financial Services&Real Estate, Chemical, Petroleum&Plastic and Consumer Goods sectors led shares lower.

At the close in Madrid, the IBEX 35 lost 0.45%.

The best performers of the session on the IBEX 35 were Acciona (MC:ANA), which rose 1.43% or 0.960 points to trade at 68.160 at the close. Meanwhile, Ferrovial (MC:FER) added 0.95% or 0.165 points to end at 17.540 and International Consolidated Airlines Group SA (MC:ICAG) was up 0.87% or 0.068 points to 7.900 in late trade.

The worst performers of the session were ArcelorMittal SA (MC:MTS), which fell 2.09% or 0.630 points to trade at 29.570 at the close. Mapfre (MC:MAP) declined 1.41% or 0.041 points to end at 2.858 and Acerinox (MC:ACX) was down 1.39% or 0.165 points to 11.690.

Falling stocks outnumbered advancing ones on the Madrid Stock Exchange by 96 to 73 and 28 ended unchanged.

Gold Futures for June delivery was down 0.22% or 2.90 to $1288.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 0.85% or 0.61 to hit $71.98 a barrel, while the July Brent oil contract rose 0.42% or 0.33 to trade at $78.84 a barrel.

EUR/USD was down 0.03% to 1.1768, while EUR/GBP rose 0.43% to 0.8777.

The US Dollar Index Futures was up 0.04% at 93.62.

Poland stocks higher at close of trade; WIG30 up 1.34%

Investing.com – Poland stocks were higher after the close on Monday, as gains in the Telecoms, Oil&Gas and Banking sectors led shares higher.

At the close in Warsaw, the WIG30 gained 1.34%.

The best performers of the session on the WIG30 were CD Projekt SA (WA:CDR), which rose 5.00% or 7.00 points to trade at 147.00 at the close. Meanwhile, Cyfrowy Polsat SA (WA:CPS) added 3.74% or 0.92 points to end at 25.54 and LPP SA (WA:LPPP) was up 3.45% or 310.00 points to 9300.00 in late trade.

The worst performers of the session were Grupa Azoty SA (WA:ATTP), which fell 2.43% or 1.16 points to trade at 46.60 at the close. Asseco Poland SA (WA:ACPP) declined 2.39% or 1.00 points to end at 40.90 and Kruk SA (WA:KRU) was down 0.70% or 1.60 points to 227.40.

Falling stocks outnumbered advancing ones on the Warsaw Stock Exchange by 267 to 226 and 163 ended unchanged.

Shares in CD Projekt SA (WA:CDR) rose to all time highs; rising 5.00% or 7.00 to 147.00. Shares in Grupa Azoty SA (WA:ATTP) fell to 5-year lows; down 2.43% or 1.16 to 46.60. Shares in Asseco Poland SA (WA:ACPP) fell to 3-years lows; falling 2.39% or 1.00 to 40.90.

Crude oil for July delivery was up 0.97% or 0.69 to $72.06 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 0.53% or 0.42 to hit $78.93 a barrel, while the June Gold Futures contract fell 0.14% or 1.80 to trade at $1289.50 a troy ounce.

EUR/PLN was down 0.15% to 4.2932, while USD/PLN fell 0.19% to 3.6463.

The US Dollar Index Futures was unchanged 0.00% at 93.58.

Sweden stocks higher at close of trade; OMX Stockholm 30 up 0.29%

Investing.com – Sweden stocks were higher after the close on Monday, as gains in the Oil&Gas, Consumer Services and Consumer Goods sectors led shares higher.

At the close in Stockholm, the OMX Stockholm 30 added 0.29% to hit a new 3-months high.

The best performers of the session on the OMX Stockholm 30 were AstraZeneca PLC (ST:AZN), which rose 2.42% or 15.1 points to trade at 640.0 at the close. Meanwhile, Autoliv Inc . SDB (ST:ALIVsdb) added 2.05% or 26.5 points to end at 1318.0 and Boliden AB (ST:BOL) was up 1.79% or 5.75 points to 327.45 in late trade.

The worst performers of the session were Fingerprint Cards AB ser. B (ST:FINGb), which fell 3.57% or 0.23 points to trade at 6.15 at the close. Essity AB B (ST:ESSITYb) declined 1.01% or 2.40 points to end at 235.00 and Svenska Handelsbanken AB A (ST:SHBa) was down 0.77% or 0.77 points to 98.81.

Rising stocks outnumbered declining ones on the Stockholm Stock Exchange by 335 to 243 and 57 ended unchanged.

Shares in AstraZeneca PLC (ST:AZN) rose to all time highs; gaining 2.42% or 15.1 to 640.0. Shares in Autoliv Inc. SDB (ST:ALIVsdb) rose to all time highs; gaining 2.05% or 26.5 to 1318.0. Shares in Boliden AB (ST:BOL) rose to 5-year highs; gaining 1.79% or 5.75 to 327.45.

Crude oil for July delivery was up 1.04% or 0.74 to $72.11 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 0.53% or 0.42 to hit $78.93 a barrel, while the June Gold Futures contract fell 0.13% or 1.70 to trade at $1289.60 a troy ounce.

EUR/SEK was down 0.61% to 10.2411, while USD/SEK fell 0.64% to 8.6984.

The US Dollar Index Futures was up 0.01% at 93.59.

Greece stocks lower at close of trade; Athens General Composite unchanged

Investing.com – Greece stocks were lower after the close on Monday, as in the sectors led shares .

At the close in Athens, the Athens General Composite unchanged 0.00% to hit a new 1-month low.

The best performers of the session on the Athens General Composite were Iaso (AT:IASr), which rose 6.00% or 0.050 points to trade at 0.884 at the close. Meanwhile, Marfin Invest (AT:MRFr) added 5.38% or 0.007 points to end at 0.137 and Hygeia (AT:HYGr) was up 4.64% or 0.039 points to 0.880 in late trade.

The worst performers of the session were J.&P. Avax (AT:AVAr), which fell 7.37% or 0.049 points to trade at 0.616 at the close. Attica Bank SA (AT:BOAr) declined 6.22% or 0.018 points to end at 0.279 and AS Company SA (AT:ASCr) was down 5.83% or 0.140 points to 2.260.

Falling stocks outnumbered advancing ones on the Athens Stock Exchange by 60 to 54 and 15 ended unchanged.

Shares in Attica Bank SA (AT:BOAr) fell to 52-week lows; losing 6.22% or 0.018 to 0.279.

Gold Futures for June delivery was down 0.25% or 3.20 to $1288.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 0.91% or 0.65 to hit $72.02 a barrel, while the July Brent oil contract rose 0.34% or 0.27 to trade at $78.78 a barrel.

EUR/USD was down 0.09% to 1.1760, while EUR/GBP rose 0.27% to 0.8763.

The US Dollar Index Futures was up 0.10% at 93.67.

Israel stocks higher at close of trade; TA 35 up 0.78%

Investing.com – Israel stocks were higher after the close on Monday, as gains in the Banking, Financials and Insurance sectors led shares higher.

At the close in Tel Aviv, the TA 35 added 0.78% to hit a new 3-months high.

The best performers of the session on the TA 35 were Israel Discount Bank Ltd (TA:DSCT), which rose 3.93% or 41.0 points to trade at 1085.0 at the close. Meanwhile, Amot Investments Ltd (TA:AMOT) added 3.09% or 58 points to end at 1932 and Azrieli Group Ltd (TA:AZRG) was up 3.02% or 520 points to 17720 in late trade.

The worst performers of the session were OPKO Health Inc (TA:OPK), which fell 16.63% or 291 points to trade at 1459 at the close. Bezeq Israeli Telecommunication Corp Ltd (TA:BEZQ) declined 1.46% or 6.3 points to end at 424.7 and Tower Semiconductor Ltd (TA:TSEM) was down 1.44% or 130 points to 8870.

Rising stocks outnumbered declining ones on the Tel Aviv Stock Exchange by 267 to 116 and 34 ended unchanged.

Shares in Israel Discount Bank Ltd (TA:DSCT) rose to all time highs; gaining 3.93% or 41.0 to 1085.0.

Crude oil for July delivery was up 0.46% or 0.33 to $71.70 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 0.01% or 0.01 to hit $78.52 a barrel, while the June Gold Futures contract fell 0.28% or 3.60 to trade at $1287.70 a troy ounce.

USD/ILS was down 0.23% to 3.5844, while EUR/ILS fell 0.34% to 4.2138.

The US Dollar Index Futures was up 0.14% at 93.71.

Gold Prices Drift Lower as Global Trade Remains in Focus

Investing.com - Gold prices were paring losses in midmorning trade on Monday as investors evaluated mixed messages with regard to U.S. trade.

At 10:33AM ET (14:33GMT), gold futures for June delivery on the Comex division of the New York Mercantile Exchange was down $3.70, or around 0.3%, to $1,287.60 a troy ounce, well off an intraday low of $1281.20.

China and the U.S. agreed to halt imposing punitive import tariffs as negotiators set up a framework to address trade imbalances.

According to U.S. Treasury Secretary Steven Mnuchin, the trade war with China is now put on hold, reducing the demand for safe haven assets. "We are putting the trade war on hold. Right now, we have agreed to put the tariffs on hold while we try to execute the framework," Mnuchin said .

Mnuchin told CNBC on Monday that the talks so far already have already yielded tangible benefits. “"I think we've made very meaningful progress," he stated. "Now it's up to both of us to make sure that we can implement it."

While the agreement means that both sides will avoid billions of dollars in tit-for-tat tariffs, China has yet to agree to cut the trade deficit despite President Donald Trump’s demand that the world’s second largest economy reduce its trade surplus by $200 billion.

However, Trump proclaimed that China had agreed to buy “massive amounts of additional farm/agricultural products”.

While the threat of tariffs between the U.S. and China were put on pause, other trade issues seemed far from resolved, pulling gold off intraday lows.

U.S. Secretary of State Mike Pompeo threatened on Monday to impose the "strongest sanctions in history" against Iran if the country's leadership did not change the course of its foreign and domestic policy.

Meanwhile, Mnuchin admitted on Monday that major issues remained in talks between the United States, Mexico and Canada to renegotiate the North American Free Trade Agreement (NAFTA).

In a session with no major economic reports stateside, market participants will focus their attention on appearances from Federal Reserve policymakers as they seek to gauge plans for policy tightening.

Atlanta Fed president Raphael Bostic, Philadelphia Fed chief Patrick Harker and the head of the Minneapolis Fed, Neel Kashkari, will be giving speeches on Monday afternoon.

That said, the focus this week will undoubtedly be on Fed chairman Jerome Powell who will participate in a panel discussion of "Financial Stability and Central Bank Transparency" at the Sveriges Riskbank Conference in Stockholm, Sweden on Friday.

Markets are currently pricing in a rate hike at the next Fed meeting on June 12-13, in what would be the second move this year. The uncertainty lies on whether there will be a fourth increase in December with the odds currently hovering just above the 50% threshold.

Higher interest rates tend to weigh on demand for gold, which doesn’t bear interest, in favor of yield-bearing investments.

In other metals trading, silver futures was trading flat at $16.455 a troy ounce by 10:34AM ET (14:34GMT).

Palladium futures traded up 1.1% to $970.40 an ounce. Sister metal platinum slipped 0.1% at $885.80.

In base metals, copper gained 0.9% to $3.091 a pound.

Saudi Arabia stocks lower at close of trade; Tadawul All Share down 0.27%

Investing.com – Saudi Arabia stocks were lower after the close on Monday, as losses in the Media&Publishing, Real Estate Development and Building&Construction sectors led shares lower.

At the close in Saudi Arabia, the Tadawul All Share declined 0.27%.

The best performers of the session on the Tadawul All Share were Al Baha Investment and Development Company SJSC (SE:4130), which rose 9.70% or 1.94 points to trade at 21.94 at the close. Meanwhile, Takween Advanced Industries (SE:1201) added 7.54% or 0.76 points to end at 10.84 and Red Sea Housing Services Company (SE:4230) was up 4.77% or 0.86 points to 18.90 in late trade.

The worst performers of the session were Anaam International Holding Group (SE:4061), which fell 5.67% or 0.77 points to trade at 12.80 at the close. Amana Cooperative Insurance Co (SE:8310) declined 5.52% or 0.83 points to end at 14.20 and Al Sorayai Trading&Industrial Group (SE:1213) was down 5.31% or 1.19 points to 21.20.

Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 104 to 75 and 7 ended unchanged.

Shares in Amana Cooperative Insurance Co (SE:8310) fell to 52-week lows; losing 5.52% or 0.83 to 14.20.

Crude oil for July delivery was up 0.34% or 0.24 to $71.61 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 0.17% or 0.13 to hit $78.38 a barrel, while the June Gold Futures contract fell 0.34% or 4.40 to trade at $1286.90 a troy ounce.

EUR/SAR was up 0.01% to 4.4138, while USD/SAR rose 0.01% to 3.7504.

The US Dollar Index Futures was up 0.07% at 93.65.

Higher Gasoline Prices Eat Into Tax Cut Gain For Consumers

Investing.com - As gasoline prices continue to rise on the back of surging oil prices, the impact on the economy deepens, undercutting disposable income and the benefits of the individual tax cuts.
With a national average of almost $3 a gallon, prices are up 24% in the past year and closing in on a four-year high.
Economist estimate that each penny a gallon increase absorbs $1 billion in economic consumption a year from elsewhere in the economy.
Gas prices averaged $2.49 a gallon in 2018. If prices average $3 a gallon this year, that's $51 billion in spending.
The tax cut package is supposed to save individuals $122 billion in 2018.
The key to the equation going forward is whether prices retreat, remain at this level or move higher.
Deutsche Bank (DE:DBKGn) estimates that a sustained $1 increase in gasoline prices would completely offset the disposable income games from the tax cut.

Stocks- Dow Futures Surge as Trade War Put on Hold

Investing.com – U.S. futures were higher on Monday, as the U.S. and China agreed to put tariffs on hold as they negotiate a trade agreement.

The S&P 500 futures was up 16 points or 0.60% to 2,729.25 as of 6:44 AM ET (10:44 GMT) while Dow futures increased 231 points or 0.93% to 24,952.0. Meanwhile tech heavy Nasdaq 100 futures rose 49 points or 0.71% to 6,923.00.

The trade war between the U.S. and China is “on hold” as the two work on a trade agreement, U.S. Treasury Secretary Steven Mnuchin said on Sunday. The two countries had been engaged in a tit-for-tat over tariff disagreements over the last few months. However, China has yet to agree to cut the trade deficit despite President Donald Trump’s demand that the world’s second largest economy reduce its trade surplus by $200 billion.

Tesla (NASDAQ:TSLA) was among the top gainers in pre-market trading, rising 1.72% after CEO Elon Musk doubled the price of the new Tesla Model 3. Meanwhile Apple (NASDAQ:AAPL) rose 0.76% while Advanced Micro Devices Inc (NASDAQ:AMD) increased 2.00% and General Electric (NYSE:GE) gained 2.20%.

Elsewhere British American Tobacco (LON:BATS) was down 0.53% while infrastructure company Aegion Corp (NASDAQ:AEGN) dipped 2.26% and mining firm Vedanta Ltd (NYSE:VEDL) slipped 1.68%.

On the central banking front, Atlanta Fed president Raphael Bostic, Philadelphia Fed chief Patrick Harker and the head of the Minneapolis Fed, Neel Kashkari, will be giving speeches on Monday afternoon.

In Europe stocks were mixed. Germany’s DAX fell 36 points or 0.28% while in France the CAC 40 increased 37 points or 0.67% and in London, the FTSE 100 was up 61 points or 0.79%. Meanwhile the pan-European Euro Stoxx 50 lost 19 points or 0.55% while Spain’s IBEX 35 inched up six points or 0.07%.

In commodities, gold futures fell 0.57% to $1,284.00 a troy ounce while crude oil futures increased 0.34% to $71.61 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, was up 0.21% to 93.78.

Indonesia stocks lower at close of trade; IDX Composite Index down 0.86%

Investing.com – Indonesia stocks were lower after the close on Monday, as losses in the Financials, Infrastructure and Consumer Industry sectors led shares lower.

At the close in Jakarta, the IDX Composite Index fell 0.86% to hit a new 6-months low.

The best performers of the session on the IDX Composite Index were Forza Land Indonesia Tbk PT (JK:FORZ), which rose 24.55% or 82 points to trade at 416 at the close. Meanwhile, Mitra Investindo Tbk (JK:MITI) added 20.24% or 17 points to end at 101 and Integra Indocabinet Tbk PT (JK:WOOD) was up 17.97% or 83 points to 545 in late trade.

The worst performers of the session were Perdana Bangun Pusaka Tbk PT (JK:KONI), which fell 18.18% or 56 points to trade at 252 at the close. Eterindo Wahanatama Tbk (JK:ETWA) declined 15.91% or 14 points to end at 74 and Nusantara Inti Corpora Tbk (JK:UNIT) was down 15.63% or 50.00 points to 270.00.

Falling stocks outnumbered advancing ones on the Jakarta Stock Exchange by 216 to 149 and 126 ended unchanged.

Shares in Mitra Investindo Tbk (JK:MITI) rose to 52-week highs; gaining 20.24% or 17 to 101. Shares in Integra Indocabinet Tbk PT (JK:WOOD) rose to all time highs; up 17.97% or 83 to 545.

Crude oil for July delivery was up 0.27% or 0.19 to $71.56 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 0.14% or 0.11 to hit $78.62 a barrel, while the June Gold Futures contract fell 0.60% or 7.70 to trade at $1283.60 a troy ounce.

USD/IDR was up 0.33% to 14186.8, while AUD/IDR rose 0.35% to 10678.50.

The US Dollar Index Futures was up 0.25% at 93.81.

Top 5 Things to Know in the Market on Monday

Investing.com - Here are the top five things you need to know in financial markets on Monday, May 21:

1. U.S. and China put trade war on hold

China and the U.S. agreed over the weekend to halt imposing punitive import tariffs as negotiators set up a framework to address trade imbalances.

U.S. Treasury Secretary Steven Mnuchin said on Sunday that the trade war with China is now put on hold. "We are putting the trade war on hold. Right now, we have agreed to put the tariffs on hold while we try to execute the framework," Mnuchin said.

While the agreement means that both sides will avoid billions of dollars in tit-for-tat tariffs, China has yet to agree to cut the trade deficit despite President Donald Trump’s demand that the world’s second largest economy reduce its trade surplus by $200 billion.

2. Fed speakers in focus

With no major U.S. economic reports set for release on Monday, market participants will focus their attention on appearances from Federal Reserve policymakers as they seek to gauge plans for policy tightening.

Atlanta Fed president Raphael Bostic, Philadelphia Fed chief Patrick Harker and the head of the Minneapolis Fed, Neel Kashkari, will be giving speeches on Monday afternoon.

That said, the focus this week will undoubtedly be on Fed chairman Jerome Powell who will participate in a panel discussion of "Financial Stability and Central Bank Transparency" at the Sveriges Riskbank Conference in Stockholm, Sweden on Friday.

Markets are currently pricing in a rate hike at the next Fed meeting on June 12-13, in what would be the second move this year. The uncertainty lies on whether there will be a fourth increase in December with the odds currently hovering just above the 50% threshold.

3. Global stocks breathe sigh of relief over trade war pause

U.S. futures pointed to a higher open on Monday as global investors continued the rally with a celebration of the pause in the U.S.-China trade war. At 5:53AM ET (9:53GMT), the blue-chip Dow futures jumped 222 points, or 0.90%, S&P 500 futures rose 16 points, or 0.57%, while the Nasdaq 100 futures traded up 45 points, or 0.65%.

Elsewhere, European stocks traded higher on Monday, buoyed by the easing tension. Notably, London’s FTSE 100 hit a record high. However, Italian stocks bucked the general trend as worries continued over the prospect of two populist parties taking power. Germany’s stock market was closed for a holiday.

Earlier, Asian shares closed higher as traders celebrated Mnuchin’s announcement. China’s Shanghai Composite ended with gains of 0.6% while Japan’s Nikkei 225 closed 0.3% higher.

4. Dollar hits 5-month highs but balks at 94

The dollar hit a five-month high on Monday after U.S. Treasury Secretary Steven Mnuchin declared the U.S.-China trade war "on hold" following their agreement to suspend threatened tariffs.

At 5:454M ET (9:54GMT), the U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, gained 0.28% at 93.84, just off an intraday high of 93.97, its highest level since December 18.

Currency markets were taken by surprise as the dollar rallied in recent weeks, rising 5.4% in just over a month. It was the currency's biggest gain since the last quarter of 2015, when the Federal Reserve was preparing for its first rate increase since the financial crisis of 2008.

5. Musk doubles price on new Tesla Model 3

Tesla CEO Elon Musk revealed details over the weekend of a more powerful version of the Model 3 that will cost around $78,000, compared to the original $35,000 price tag on the base-model.

Musk tweeted on Saturday that the new version would be faster and more powerful, with a dual motor and all-wheel drive.

Shares of Tesla (NASDAQ:TSLA) were up around 2% in pre-market trade Monday.

Oil Rises as Trade War Put on Hold

Investing.com - Oil prices were higher on Monday as the U.S. and China has put their trade war “on hold” to discuss a trade agreement.

The trade war between the U.S. and China is “on hold” as the two work on a trade agreement, U.S. Treasury Secretary Steven Mnuchin said on Sunday. The two countries had been engaged in a tit-for-tat over tariff disagreements over the last few months, but met last week in Washington to discuss their trade differences.

Oil prices were higher after the news as trade tensions wore off, with both Brent and WTI were near their highest levels since November 2014.

Crude oil futures rose 0.45% to $71.69 a barrel by 4:44 AM ET (8:44 GMT), while Brent crude futures, the benchmark for oil prices outside the U.S., was up 0.53% to $78.93 a barrel.

Oil prices have jumped over 70% in the last year due to a rise in demand and restricted supply by the Organization of the Petroleum Exporting Countries (OPEC).

OPEC has been cutting crude output by 1.8 million barrels per day (bpd) to prop up oil prices. The pact began in January 2017 and is set to expire at the end of 2018. While the groups efforts to end a global supply glut have been successful, Saudi Arabia is pushing for the cuts to extend into 2019.

Despite the cuts, analysts say supply is meeting demand, as U.S. production increases. The U.S. oil rig count was unchanged at 844, its highest level since March 2015, according to the latest data from Baker Hughes.

In other energy trading, Gasoline RBOB Futures increased 0.31% at $2.2430 a gallon, while heating oil rose 0.43% to $2.2752 a gallon. Natural gas futures slumped 1.09% to $2.816 per million British thermal units as cooler than normal temperatures across Europe decreased demand.

Gold Prices Drop as U.S.-China Trade War Put On Hold

Investing.com - Gold prices moved lower in early morning European trade on Monday as U.S. Treasury Secretary Steven Mnuchin said a day earlier that a trade war between China and the U.S. is now on hold, reducing the demand for safe haven assets.

Gold futures for June delivery on the Comex division of the New York Mercantile Exchange was down $8.60, or around 0.7%, to $1,282.70 a troy ounce by 4:33AM ET (8:33GMT).

Meanwhile, the dollar opened the week rising against the other major rivals, climbing to a fresh new high this year. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, gained 0.26% to 93.82, its highest level since mid-December.

The dollar picked up as China and the U.S. agreed to halt imposing punitive import tariffs. Chinese and American negotiators set up a framework to address the trade imbalances.

U.S. Treasury Secretary Steven Mnuchin said on Sunday that the trade war with China is now put on hold. "We are putting the trade war on hold. Right now, we have agreed to put the tariffs on hold while we try to execute the framework," Mnuchin said.

Dollar-denominated assets such as gold are sensitive to moves in the dollar – a gain in the dollar makes gold more expensive for holders of foreign currency and thus decreases demand for the precious metal.

While the agreement means that both sides will avoid billions of dollars in tit-for-tat tariffs, China has yet to agree to cut the trade deficit despite President Donald Trump’s demand that the world’s second largest economy reduce its trade surplus by $200 billion.

In a session with no major economic reports stateside, market participants will focus their attention on appearances from Federal Reserve policymakers as they seek to gauge plans for policy tightening.

Atlanta Fed president Raphael Bostic, Philadelphia Fed chief Patrick Harker and the head of the Minneapolis Fed, Neel Kashkari, will be giving speeches on Monday afternoon.

That said, the focus this week will undoubtedly be on Fed chairman Jerome Powell who will participate in a panel discussion of "Financial Stability and Central Bank Transparency" at the Sveriges Riskbank Conference in Stockholm, Sweden on Friday.

Markets are currently pricing in a rate hike at the next Fed meeting on June 12-13, in what would be the second move this year. The uncertainty lies on whether there will be a fourth increase in December with the odds currently hovering just above the 50% threshold.

Higher interest rates tend to weigh on demand for gold, which doesn’t bear interest, in favor of yield-bearing investments.

In other metals trading, silver futures lost 14 cents, or 0.8%, at $16.320 a troy ounce by 4:34AM ET (8:34GMT).

Palladium futures traded up 0.5% to $964.90 an ounce. Sister metal platinum slid 0.6% at $880.80.

In base metals, copper gained 0.8% to $3.089 a pound.

Taiwan stocks higher at close of trade; Taiwan Weighted up 1.25%

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

At the close in Taiwan, the Taiwan Weighted added 1.25% to hit a new 1-month high.

The best performers of the session on the Taiwan Weighted were Genius Electronic Optical Co Ltd (TW:3406), which rose 10.00% or 36.00 points to trade at 396.00 at the close. Meanwhile, Walsin Technology Corp (TW:2492) added 9.95% or 28.00 points to end at 309.50 and Yageo Corp (TW:2327) was up 9.93% or 88.00 points to 974.00 in late trade.

The worst performers of the session were Abocom Systems Inc (TW:2444), which fell 9.83% or 2.65 points to trade at 24.30 at the close. Mospec Semiconductor Corp (TW:2434) declined 6.44% or 1.05 points to end at 15.25 and Chuwa Wool Industry Co Taiwan Ltd (TW:1439) was down 6.00% or 2.70 points to 42.30.

Rising stocks outnumbered declining ones on the Taiwan Stock Exchange by 583 to 220 and 112 ended unchanged.

Crude oil for July delivery was up 0.69% or 0.49 to $71.86 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 0.79% or 0.62 to hit $79.13 a barrel, while the June Gold Futures contract fell 0.60% or 7.80 to trade at $1283.50 a troy ounce.

USD/TWD was up 0.19% to 30.003, while TWD/CNY fell 0.14% to 0.2124.

The US Dollar Index Futures was up 0.31% at 93.87.

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