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The big story this week was a weak US jobs report. The economy only added 57,000 jobs in June, well below the 110,000-115,000 economists expected. That miss changed the mood across markets, because investors now think the Fed is less likely to raise rates soon. Stocks and gold both got a lift from that.
Oil went lower, mostly because talks between the US and Iran seem to be going well, and shipping through the Strait of Hormuz is getting back to normal. On the tech side, Micron and AMD took a beating as investors started questioning whether AI stocks have gotten ahead of themselves. Meanwhile the Dow kept climbing to record highs, thanks to Apple, McDonald's and Disney.
Forex News
AUD/USD – Sitting around 0.693 to 0.694 this week, without much movement either way.
EUR/GBP – Basically flat around 0.8566 to 0.8567.
EUR/USD – Edged up to around 1.1427 to 1.1450 as the dollar softened a touch after the jobs data.
USD/JPY – Still hovering near 161.3 to 162.0, which is close to multi decade highs for this pair. There's a talk that Japan might step in to support the yen if it keeps sliding.
Stock Market News
S&P 500 – Closed near 7,483, up about 1.8% for the week.
Dow Jones – The star of the week, up around 2% and closing at a record 52,900, with gains led by Apple, McDonald's, and Disney.
Nasdaq – Also up on the week, about 2.1%, but it was a rockier ride thanks to chip stocks getting sold off hard on a couple of days.
GB 100 – Trading around 10,650 to 10,680, up modestly along with the rest of Europe.
ASX 200 – Around 8,844, up roughly 1.4% recently as the positive global mood carried over.
Nikkei 225 – Had a choppier week, swinging between about 69,400 and 70,700. Chip-related names like Sumco led the gains, though a stronger yen weighed on exporters at times.
Commodity Market News
Brent Crude is trading around $71 to $72 a barrel, down from earlier highs as Saudi and UAE exports climb back toward pre-conflict levels and supply fears ease.
WTI Crude is trading near $68 to $69 a barrel, moving lower for the same reasons as Brent.
Gold Market News
XAUUSD – Gold had a strong week, jumping from an eight-month low up to around $4,150 - 4,190 an ounce, even touching $4,200 at one point. The weak jobs report, a softer dollar, and steady central bank buying all helped push it higher.
Crypto
Bitcoin – Trading around $61,800 to $62,800, bouncing back after a rough June. It's still down about 50% from its all-time high of $126,200 last October, and big investors have been pulling money out of Bitcoin ETFs.
Ethereum is around $1,730 to $1,790, and it actually outperformed Bitcoin this week, jumping more than 5% in a single session at one point. Still, it's a long way from its 2025 peak near $4,950.
Source: https://www.ifcmarkets.com/en/market-overview/ethusd-market-overview-06-07-2026
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