Top daily news
Stocks are advancing currently while 10-year US Treasury note yields edged up to 1.272% after SP500 closed down 0.6% for the week on Friday. Amazon shares added 0.38% amid reports the e-commerce giant has plans to open physical stores that resemble the concept it is helping to crush, Microsoft shares jumped 2.56% Friday outperforming market while the company invested $5 million in Indian budget hotel chain Oyo ahead of IPO.
Forex news
| Currency Pair | Change |
|---|---|
| EUR USD | +0.22% |
| GBP USD | +0.24% |
| USD JPY | +0.07% |
| AUD USD | +0.35% |
The Dollar weakening is intact currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, slipped 0.1% on Friday after Dallas Federal Reserve President Robert Kaplan, a well-known hawk, said he might reconsider the need for an early start to tapering if the virus harms the US economy.
EUR/USD reversed its sliding Friday while GBP/USD retreated further as federal statistics office Destatis reported German producer prices index growth accelerated in July. Both pairs are higher against the Dollar currently. USD/JPY reversed its sliding Friday while AUD/USD slipped further with the Australian dollar higher against the Greenback currently and yen lower still.
Stock Market news
| Indices | Change |
|---|---|
| Dow Jones Index | +0.21% |
| Nikkei Index | +0.98% |
| Hang Seng Index | +0.93% |
| Australian Stock Index | +0.45% |
Futures on US equity benchmarks are up currently after the Wall Street rebounded Friday on bargain hunting. The three main US stock benchmarks recorded daily gains ranging from 0.65% to 1.19%.
European stock indexes are rising currently after ending higher on Friday with retail shares leading the gains. Asian indexes are advancing today with NIKKEI leading gains on dip buying while Chinese stocks bounced back as authorities reported no new local COVID-19 cases for the first time since July and technology and healthcare stocks helped Hong Kong equities rise after a two-day fall.
Commodity Market news
| Commodities | Change |
|---|---|
| Brent Crude Oil | +2.12% |
| WTI Crude | +2.11% |
Brent is rebounding currently. Prices fell on Friday amid concerns expanding travel restrictions due to the rising coronavirus Delta variant infection rate weakens fuel demand worldwide. And US drilling firms added rigs for the third week in a row, according to oil services company Baker Hughes. West Texas Intermediate (WTI) futures fell 2.2% but is higher currently. September Brent crude lost 1.9% to $65.18 a barrel on Friday.
Gold Market News
| Metals | Change |
|---|---|
| Gold | +0.34% |
Gold prices are extending gains today. December gold inched up 0.05% settling at $1784 on Friday – gaining 0.3% for the week.
https://www.ifcmarkets.com/en/market-overview/market-overview-23-08-2021