Todays’ Market Summary
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The Dollar strengthening is intact currently.
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Futures on US equity benchmarks are up currently
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Brent is retreating currently ahead of OPEC meeting this week where the Organization of the Petroleum Exporting Countries, Russia and their allies, known as OPEC+, are expected to maintain production cuts.
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Gold prices are edging up
Top daily news
Global equities are mostly up currently after Wall Street closed at records Friday. Microsoft shares gained 2.24% outperforming market as its market capitalization hit $2.49 trillion making it the world’s most valuable publicly traded company, Amazon shares dipped 2.15% Friday as its profits almost halved to $3.2 billion from $6.3 billion in the third quarter though sales rose 15% to $110.8 billion
Forex news
| Currency Pair | Change |
|---|---|
| EUR USD | -0.35% |
| GBP USD | -0.6% |
| USD JPY | +0.2% |
| AUD USD | -0.3% |
The Dollar strengthening 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, jumped 0.8% on Friday after Commerce Department data showed US inflation rose 4.4% over year in September, its biggest jump since January 1991.
Both EUR/USD and GBP/USD reversed their climbing Friday after the German statistics department Destatis report the German gross domestic product (GDP) rose by 1.8% over quarter in the third quarter when a 2.2% growth was forecast. Both euro and Pound are lower against the Dollar currently. USD/JPY revered its sliding Friday while AUD/USD reversed its advancing with both the Australian dollar and yen lower against the Greenback currently.
Stock Market news
| Indices | Change |
|---|---|
| Dow Jones Index | +0.08% |
| Nikkei Index | +0.98% |
| Hang Seng Index | -0.6% |
| Australian Stock Index | +0.28% |
Futures on US equity benchmarks are up currently ahead of Institute for Supply Management’s Manufacturing PMI report due at 15:00 CET today. The Wall Street closed at records Friday despite disappointing results from Amazon and Apple which missed earnings expectations citing supply chain bottlenecks: the three main US stock benchmarks recorded daily gains ranging from 0.2% to 0.3%.
European stock indexes are up currently after ending mixed on Friday with utilities shares leading losses. Asian indexes are mostly advancing today with Chinese markets down after weekend data showed a sharper than expected contraction of Chinese factory activity. NIKKEI is lading gains after Prime Minister Fumio Kishida’s Liberal Democratic Party did better than expected at Sunday’s election, easily retaining a majority.
Commodity Market news
| Commodities | Change |
|---|---|
| Brent Crude Oil | -0.5% |
| WTI Crude | -0.3% |
Brent is retreating currently ahead of OPEC meeting this week where the Organization of the Petroleum Exporting Countries, Russia and their allies, known as OPEC+, are expected to maintain production cuts. Prices rose on Friday despite energy services firm Baker Hughes report the number of active US oil rigs rose for a 15th month in row in October. West Texas Intermediate (WTI) futures added 0.9% but is lower currently. Brent crude rose 6 cents to $84.38 a barrel on Friday.
Gold Market News
| Metals | Change |
|---|---|
| Gold | +0.14% |
Gold prices are edging up today. December gold fell 1% settling at $1783.90 an ounce on Friday – logging an 0.7% loss for the week but climbing by 1.5% for the month.
https://www.ifcmarkets.com/en/market-overview/market-overview-01-11-2021