By IFCMarkets
Dollar weakening continues despite solid jobs report
US stocks rebound broadened on Friday after solid September jobs report. The S&P 500 rose 1.4% to 2952.01, falling 0.3% for the week. Dow Jones industrial advanced 1.4% to 26573.72. The Nasdaq gained 1.4% to 7982.47. The dollar weakening continued at steady pace as US economy added below expected 136,000 new jobs in September while unemployment rate dropped to 3.5%: 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, slipped 0.1% to 98.78 but is higher currently. Stock index futures point to lower openings today.
FTSE 100 leads European indexes movements
European stocks rebounded on Friday led by defensive shares. The EUR/USD continued its climb Friday while GBP/USD slid with both pairs lower currently. The Stoxx Europe 600 Index gained 0.7%. The DAX 30 rose 0.7% Friday to 12012.81. France’s CAC 40 advanced 0.9% and UK’s FTSE 100 rallied 1.1% to 7155.38.
Australia’s All Ordinaries Index extends gains
Asian stock indices are mostly higher today. Nikkei gave up earlier gains ending 0.2% lower at 21375.25 with yen resuming its slide against the dollar. Markets in Hong Kong and mainland China remained closed for a holiday. Australia’s All Ordinaries Index extended gains 0.7% as the Australian dollar renewed its slide against the greenback.
Brent up
Brent futures prices are extending gains today. Prices rose on Friday buoyed by Baker Hughes report the number of active US oil rigs fell by 3 to 710 last week: Brent for December settlement ended 1.1% higher at $58.37 a barrel Friday, posting 4.4% loss for the week.
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