In the New York market digest, the Dow updated its all-time high, gold surged and oil fell. Against a backdrop of dollar weakness, the euro rose, while the yen remained broadly flat.
In the US stock market, the Dow Jones Industrial Average updated its all-time high, closing at $54,349.12, up $263.24 from the previous day. The Nasdaq Composite, meanwhile, declined for the first time in 5 sessions. Easing concerns over the situation in the Middle East encouraged buying, while earnings reactions varied by stock.
In the foreign exchange market, USD/JPY remained broadly flat. Falling oil prices and weaker US data prompted dollar selling, sending the pair down to around ¥157.31, near its intraday low, during the 11 p.m. hour. Buying back the dollar then prevailed, and the pair recovered to around ¥157.80.
European currencies firmed, led by EUR/JPY. Against a backdrop of a modest rise in EUR/USD and movements in USD/JPY, the euro strengthened against the yen and updated its intraday high to ¥182.29 at around 5:30 a.m.
In the commodities market, crude oil fell for a third straight session. Expectations that risks in the Middle East would ease and that shipping through the Strait of Hormuz would resume weighed on prices, while the decline was limited as an announcement from Iran reduced optimism over the prospects for negotiations. Gold futures extended their sharp advance, rising to around $4,328.