Todays’ Market Summary
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The Dollar weakening has halted currently.
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Futures on US equity benchmarks are down currently
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Brent is retreating currently ahead of the meeting of the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, where it is expected the cartel will continue unwinding output cuts.
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Gold prices are edging down
Top daily news
Global equities are mostly in red currently after trading in China Evergrande was suspended last week as it missed a key interest payment on its offshore debt obligation for the second time. Wall Street closed higher Friday. Facebook shares gained 1.07% underperforming market, Tesla shares slipped 0.1% Friday before the electric vehicle maker reported a 64% increase over year in third quarter production on Saturday.
Forex news
| Currency Pair | Change |
|---|---|
| EUR USD | +0.11% |
| GBP USD | -0.21% |
| USD JPY | +0.41% |
| AUD USD | +0.05% |
The Dollar weakening has halted 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, slid 0.3% on Friday despite US Bureau of Economic Analysis report showing inflation continued to inch higher in August.
EUR/USD joined GBP/USD continuing climbing Friday as the European Central Bank reported the euro zone inflation in September rose 3.4% on an annual basis, up from 3% in August. Euro is higher against the Dollar currently while Pound is lower. USD/JPY continued its sliding Friday while AUD/USD continued its advancing with the Australian dollar higher against the Greenback currently and yen lower.
Stock Market news
| Indices | Change |
|---|---|
| ow Jones Index | -0.63% |
| Nikkei Index | -1.13% |
| Hang Seng Index | -2.03% |
| Australian Stock Index | +0.64% |
Futures on US equity benchmarks are down currently ahead of factory orders report due at 14:30 CET today. The Wall Street rebounded Friday as US economic data showed higher inflation, along with increased consumer spending and accelerating factory activity: the three main US stock benchmarks recorded daily gains ranging from 0.82% to 1.43%.
European stock indexes are down currently after ending lower on Friday led by mining shares. Asian indexes are mostly retreating today with markets in the Chinese mainland closed until Thursday. Hong Kong’s Hang Seng Index is leading losses amid concerns over growing risk that Evergrande’s default crisis may spread to the entire Chinese property sector.
Commodity Market news
| Commodities | Change |
|---|---|
| Brent Crude Oil | -0.04% |
| WTI Crude | -0.03% |
Brent is retreating currently ahead of the meeting of the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, where it is expected the cartel will continue unwinding output cuts. OPEC+ is facing pressure from consumers including the United States and India to produce more as demand has recovered faster than anticipated. Prices rose on Friday despite energy services firm Baker Hughes report the number of active US oil rigs rose for a fourth week in a row. West Texas Intermediate (WTI) futures added 1.1% but is lower currently. Brent crude rose 1.2% to $79.28 a barrel on Friday.
Gold Market News
| Metals | Change |
|---|---|
| Gold | -0.5% |
Gold prices are edging down today. December gold added 0.1% settling at $1758.40 an ounce on Friday – logging an 0.02% gain for the week.
https://www.ifcmarkets.com/en/market-overview/market-overview-04-10-2021