Todays’ Market Summary
- The Dollar strengthening has reversed
- US stock indexes futures are down currently
- Brent is edging up presently ahead of G7 finance ministers virtual meeting today where they are expected to agree on plans to impose a price cap on Russian oil.
- Gold is edging up today.
Top daily news
Global stocks are subdued currently ahead of August US payrolls report today after SP500 snapped 4-session losing streak Thursday. Amazon shares gained 0.83% outperforming the market, Microsoft shares lost 0.44% Thursday while Britain’s antitrust regulator said Microsoft’s $69 billion acquisition of “Call of Duty” maker Activision Blizzard could harm competition in gaming sector and it needs to be investigated in depth.
Forex news
| Currency Pair | Change |
|---|---|
| EUR USD | -0.5% |
| GBP USD | -0.48% |
| USD JPY | +0.03% |
| AUD USD | +0.21% |
The Dollar strengthening has reversed 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, gained 0.7% Thursday while the US Bureau of Labor Statistics reported less Americans applied for initial jobless claims last week than expected while their number declined.
EUR/USD joined GBP/USD’s accelerated sliding Thursday while the flash manufacturing PMI for euro zone was downgraded to 49.6 in the final reading from 49.7 initial estimate. Both euro and Pound are lower against the Dollar currently. USD/JPY accelerated its climbing yesterday while AUD/USD accelerated its retreating with the Australian dollar higher against the Greenback currently and yen little changed.
Stock Market news
| Indices | Change |
|---|---|
| Dow Jones Index | -0.16% |
| Nikkei Index | -0.3% |
| Hang Seng Index | -0.88% |
| Australian Stock Index | -0.23% |
US stock indexes futures are down currently ahead of August US nonfarm payrolls report at 14:30 CET with the yield on benchmark 10-year Treasury notes down at 3.259%. The SP500 and Dow closed higher yesterday with the three main benchmarks recording returns in the range of -0.3% to 0.5% while data showed economic activity in the manufacturing sector grew in August at steady pace.
European stock market futures are lower today after ending down Thursday led by travel and leisure shares. Asian stock indexes futures are retreating currently with Chinese blue chips leading losses amid reports the southwestern Chinese metropolis of Chengdu announced a lockdown of its 21.2 million residents.
Commodity Market news
| Commodities | Change |
|---|---|
| Brent Crude Oil | +1.89% |
| WTI Crude | +2.51% |
Brent is edging up presently ahead of G7 finance ministers virtual meeting today where they are expected to agree on plans to impose a price cap on Russian oil. The price cap would deny London-brokered shipping insurance - which covers about 95% of the world’s tanker fleet - and finance to cargoes priced above the cap. Prices ended down Thursday on concerns over new COVID-19 lockdown measures in China. The US oil benchmark West Texas Intermediate (WTI) dropped 3.3% but is higher currently. Brent crude lost 3.4% to $92.36 a barrel on Thursday.