The euro exchange rate started to rise from the bottom. After seven months of nonstop decline of the euro / dollar, finally, closed with a surplus in July amid falling concerns about the crisis of European sovereign debt and the extent of its influence on the global recovery.
Lloyds Banking Group PLC (LON: LLOY) has completed a week on a positive note. Lloyds Banking Group managed to grow up 69.26 points on Friday. Support from the bulls was palpable and Lloyds shares gained +0.35 (0.51%).
Belgian financial group KBC and the Franco-Belgian banking group Dexia (DEXI) successfully passed the stress tests. Tests that are carried European analysts showed that KBC, Dexia, the National Bank of Greece (NBGr), Commerzbank (CBKG) and Credit Agricole (CAGR) look worse than their larger competitors, but do not fall to dangerous levels.
The growth of the Dow Jones Industrial Average along with the other leading U.S. indexes was expected during the first part of today’s session. The U.S. stock indexes future were trading in the green area all day, reaching their maximum levels in the first half of the day.
Currency exchange rates upset USD bulls today. Euro has risen in price to $ 1.256 from $ 1.251 on Thursday. The number of jobs outside agriculture in the USA in June fell by 125 thousand, while analysts believed that the decrease in amount of 110 thousand unemployment rate fell to 9,5%. USD goes weaker, as euro climbs. In the U.S., the volume of industrial orders in May of this year decreased by 1,4% compared with April.
Oil prices fell under pressure from published economic data. The August futures for delivery of petroleum of mark WTI have fallen by 1,1% to $ 72.14 per barrel. Last week, oil fell by 8,5%. Economic data from the U.S. proved to be controversial, but the expected market report on employment was a lot of negatives.
Gold prices rose on a background of low trading volumes in the run-up to long weekend in the U.S. in the last day of the trading week. At the same time, gold prices have fallen in India and in China today. As a result of the regular trading session on the New York Mercantile Exchange, NYMEX, the August futures for gold delivery have increased by 0,4% to $ 1,207.70 per troy ounce. Last week, gold has fallen in price by 4%.The July futures for the supply of silver fell $ 0.07 to $ 17.72 per ounce. September futures for delivery of copper have fallen in price on 1,4% to $ 2.92 per pound.
DJIA completed next week with losses. Dow Jones Industrial Average was unable to recover by the end of the trading session on Friday, losing -0.47% per day. Trading in U.S. stock indices ended lower. Players for a long time analyzing conflicting economic data, which led to volatility in the auction. Last week the indices suffered heavy losses, as the gold prices decreased.
Dow Jones Industrial Average fell to the background of negative reports and the European collapse. Statement by Nicolas Sarkozy rocked all markets and indexes, Dow Jones Industrial Average was no exception. Next week promises to be even more unstable and violent. Analysts and experts of the stock market are not taken to make predictions, as the short-term and long-term.