Global Shares Rise With Focus on Earnings Reports

Forex News

US futures pointed to a higher open, as concerns over trade tensions faded to the background and investors looked forward to the start of the second-quarter earnings season. Yesterday, tech stocks rally pushed the NASDAQ to new record levels. European shares were also higher and looked set for a second week of gains as fears of a full-blown trade war were kept in check and optimism about the next corporate earnings season grew.

The British pound fell against the US dollar after Donald Trump’s statement. The GBP/USD pair fell by 0.54% to 1.3133. US President said that the current Brexit strategy of Prime Minister Theresa May risks "killing" a bargain with the US.

The President said that May ignored his advice on the Brexit negotiations, and instead "perhaps did the opposite." The President also said that former Foreign Minister Boris Johnson "may become a great prime minister", although Trump added that he does not "confront the two politicians against each other".

Traders will focus on University of Michigan’s preliminary measure of July consumer sentiment. The US import and export prices for June are also scheduled to be released today.