September 7, 2020
Top daily news
Equity markets are retreating currently after another bearish session last Friday following Thursday selloff. Retreat continued despite a better than expected US jobs report.
Forex news
| Currency Pair | Change |
| EUR USD | -0.12% |
| GBP USD | -0.24% |
| USD JPY | -0.05% |
The Dollar strengthening continues 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, edged up less than 0.1% Friday after Labor Department data showing US economy added 1.4 million jobs in August and the unemployment rate fell to 8.4% from 10.2%. GBP/USD halted its sliding Friday while EUR/USD continued falling with both pairs lower currently. AUD/USD joined USD/JPY’s continued climbing Friday with yen higher against the greenback currently while Australian dollar has given up much of its Friday gain.
Stock Market news
| Indices | Change |
| Dow Jones Index | +0.17% |
| GB 100 Index | +0.74% |
| Nikkei Index | -0.5% |
Futures on US equity benchmark are down currently with US markets closed in observance of Labor Day today. The three main US stock indexes recorded losses ranging from 1.3% to 3.3% last week led mainly by large capitalization technology shares. European stock indexes are rising currently after a pullback Friday following a weaker than expected German factory orders report for July. Asian indexes are mostly lower today despite report China’s August exports were stronger than expected, surging 11.6% in August.
Commodity Market news
| Commodities | Change |
| Brent Crude Oil | -0.6% |
| WTI Crude | -1.2% |
Brent is extending losses today after world’s top oil exporter Saudi Arabia cut the October official selling price for Arab Light crude it sells to Asia by the most since May. Oil prices ended lower last session. The US oil benchmark West Texas Intermediate (WTI) futures are lower currently after October WTI tumbled 3.9% Friday. November Brent crude lost 3.2% to $42.66 a barrel on Friday.
Gold Market News
| Metals | Change |
| Gold | +0.16% |
Gold prices are edging up today. December gold slipped 0.2% to $1934.30 an ounce on Friday.
Market Analysis provided by IFCMarkets.com
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