Market Recap: WallStreet, US Dollar, Crude Oil, and Gold

Here’s a market recap on what’s been happening around the world financial market. US dollar, Dow Jones, S&P500, Crude Oil, and more.

On Wall Street, the Dow Jones, S&P 500 and Nasdaq Composite fell about 0.6%, 1% and 1.9% respectively. This is as the FTSE 100 and DAX 30 weakened 1.6% and 0.9% respectively. In Japan, the Nikkei 225 managed to hold a 0.2% gain.

The haven-linked US Dollar was a clear benefactor, outperforming most of its major counterparts except for the New Zealand Dollar and Japanese Yen. A hawkish RBNZ rate decision and higher New Zealand CPI data bolstered the Kiwi Dollar.

Growth-linked crude oil prices were also under pressure as a combination of OPEC+ output deal uncertainty woes and rising Covid cases amid the emerging Delta variant weighed on market mood. 

Gold prices were able to end the week slightly higher as still-dovish commentary from Fed Chair Jerome Powell poured cold water on another higher-than-anticipated inflation report.

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