Currencies

• EUR/USD continued to fall for the 3rd consecutive business day in a row. Uncertainty in the Greece situation and the uncertainty in rate adjustment by ECB put pressure on the EUR.


• USD/JPY jumped as a result of a stronger dollar boosted by a weak Euro. Uncertainty in Japan lead to a weaker Yen too.


• GBP/USD fell as well after a much lower than expected PPI. Manufacturing production fell by 1.5% and PPI input fell by 2% in May, much lower than expected. Stronger greenback also added to the downward pressure on the cable.

Commodities

• Gold fell Friday by almost 1% on the back of a stronger USD. Commodities remain soft amid economic uncertainties.

• Oil fell by 3 dollars Friday after renewed attempts from Saudi Arabia to raise production. Initially OPEC decided not increase production which lead to a boost in OIL prices, however, with the tension in middle east and expected increase in production.

Equities

• U.S. stocks closed negative on the back of lower commodities. DOW ended 1.42% down, Nasdaq 1.53% and S%P down by 1.4%


• European stock Friday, closed in red. FTSE was down by 1.55%, CAC40 down by -1.90% and DAX down by 1.25%.


• Asian stockstumbled lower on the back of the retreatment in commodity prices. Nikkei closed at 0.7% lower, Hang Send at 0.06% lower while shanghai lower -0.25%.

Sources: Bloomberg, FT