Global markets rebound ahead of Fed meeting

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, slid 0.2% Monday. GBP/USD joined EUR/USD’s continued climbing Monday as Eurostat reported euro-zone’s industrial production grew 4.1% over month in July when a 4% growth was expected. AUD/USD continued its climbing yesterday while USD/JPY’s sliding accelerated with both yen and Australian dollar higher against the greenback currently.

Futures on three main US stock indexes are rising currently ahead of the industrial production report at 17:15 CET today. US stocks ended higher Monday recording gains ranging from 1.2% to 1.9%. European stock indexes are higher currently after a mixed ending yesterday with UK Prime Minister Boris Johnson defending his plan to unilaterally rewrite Brexit withdrawal agreement as “an insurance policy” because the European Union might “go to extreme and unreasonable lengths” in the UK-European Union trade deal talks. Asian indexes are mostly higher today led by Shanghai Composite as China reported better than expected retail sales, industrial production and fixed asset investment data while Nikkei led losses.

Brent is extending losses today. Oil prices ended lower on Monday as the Organization of the Petroleum Exporting Countries further reduced its outlook for crude oil demand growth. The US oil benchmark West Texas Intermediate (WTI) for October fell 0.2% Monday and is down currently. November Brent crude lost 0.6% to $39.61 a barrel on Monday.

Gold prices are extending gains today. December gold advanced 0.8% to $1963.70 an ounce on Monday.