September 10, 2020
Top daily news
Equity markets are mostly rising currently after a rebound on Wednesday led by large capitalization technology shares. Investors are awaiting the European Central Bank decision in light of US Federal Reserve adopting average inflation targeting policy.
Forex news
| Currency Pair | Change |
| EUR USD | +0.2% |
| GBP USD | +1.6% |
| USD JPY | -0.14% |
The Dollar weakening continues currently ahead of the US Labor Department report at 16:30 CET expected to show 838 thousand Americans likely sought unemployment benefits over the last week. 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% Wednesday despite Job Openings and Labor Turnover Survey data showing US employers posted more job openings in July. Both GBP/USD and EUR/USD reversed their sliding yesterday with both pairs higher currently. AUD/USD and USD/JPY also reversed their sliding yesterday with the dynamics reversed for both pairs currently.
Stock Market news
| Indices | Change |
| Dow Jones Index | -1.1% |
| Nikkei Index | +0.88% |
Futures on three main US stock indexes are mixed currently after a bullish run on Wednesday led by technology shares. The three main US stock indexes recorded gains ranging from 1.6% to 2.7% snapping a three-day selloff that a day earlier drove the Nasdaq Composite into a correction defined as a drop of at least 10%, but no more than 20%, from a recent peak. European stock indexes are mixed currently after a bearish session Wednesday as traders wait for the ECB press conference to see Europe’s central bank response to the dovish Federal Reserve policy shift to average inflation targeting. Asian indexes are mixed today too with Nikkei leading advancers after data showed Japan’s core machinery orders, a leading gauge of capital spending, rebounded 6.3% in July after a sharp fall in the previous month.
Commodity Market news
| Commodities | Change |
| Brent Crude Oil | -0.23% |
| WTI Crude | +0.45% |
Brent is edging lower today. The American Petroleum Institute reported late Wednesday that US crude supplies rose by 3 million barrels last week. US Energy Information Administration report on US crude inventory will be delayed to Thursday due to Monday’s Labor Day holiday. Prices rebounded Wednesday. The US oil benchmark West Texas Intermediate (WTI) futures surged: October WTI jumped 3.5% but is lower currently. November Brent crude closed 2.5% higher at $40.79 a barrel on Wednesday.
Gold Market News
| Metals | Change |
| Gold | -0.15% |
Gold prices are pulling back today. December gold added 0.6% to $1954.90 an ounce on Wednesday.
Market Analysis provided by IFCMarkets.com
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