Market Review, June 30, 2016

Yestrday we saw the dollar fall against its U.S. counterpart (CAD), despite positive data, as a rebound in risk sentiment and consequently in oil prices lent support to the commodity-related Canadian currency.

The dollar also moved lower against other major currencies eventhough the upbeat U.S. personal spending data as renewed optimism following Britain’s decision to leave the E.U. continued to boost sentiment.

GBP/USD climbed by 0.69%, off the 31-year low.
EUR/USD added 0.17% while EUR/GBP dropped 0.54%.
USD/JPY held steady at 102.74 after falling to lows of 99.15 on Friday.

As investors keep booking their gains from the sharp moves up, gold prices eased yesterday.

Crude oil prices, on the other hand, erased Brexit losses, amid a massive U.S. inventory draw.

U.S. stocks closed another day on a positive note, as gains in the Financials, Oil & Gas and Basic Materials sectors led shares higher.