Stocks’ retreat persists

September 22, 2020


Top daily news

Global equities are broadly in retreat currently after a selloff on Monday led by banking shares as Fed’s Powell told it’s up to Congress to provide aid to some troubled companies. Apple advanced 3.03%, outperforming market, while Google shares fell 1.44%.

Forex news

Currency Pair Change
EUR USD -0.33%
GBP USD -0.22%
USD JPY +0.04%
The Dollar strengthening 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, jumped 0.6% Monday despite a report the Chicago Fed’s national activity index, which reflects overall US economic activity, fell to 0.79 in August from 2.54 in the prior month, while the federal government debt soared 58.9% to $22.58 trillion in the second quarter, after 11.4% gain in the first quarter. EUR/USD joined GBP/USD’s continued sliding Monday with both pairs lower currently. AUD/USD continued its sliding yesterday while USD/JPY reversed its retreating with both yen and Australian dollar lower against the greenback currently.

Stock Market news

Indices Change
Dow Jones Index -0.36%
Hang Seng Index -1.01%
GB 100 Index +0.25%
Futures on three main US stock indexes are down currently ahead of Fed chair Powell’s testimony before the House Financial Services Committee at 18:30 CET today. US main stock benchmarks ended solidly lower Monday recording losses ranging from 0.1% to 1.8%. European stock indexes are edging higher currently after a sharp fall yesterday following reports a second national lockdown in UK was possible as new coronavirus cases rise 50,000 per day. Asian indexes are mostly lower today led by Shanghai Composite with Japanese markets closed for a holiday.

Commodity Market news

Commodities Change
Brent Crude Oil +0.15%
WTI Crude -0.11%
Brent is edging up today. Oil prices ended lower on Monday after reports Libya’s key oil fields are preparing for a restart as Libyan military commander Khalifa Haftar, who controls the eastern portion of the country, plans to lift an eight-month blockade on crude exports. The US oil benchmark West Texas Intermediate (WTI) for October fell 4.4% Monday and is down currently. November Brent crude lost 4% to $41.44 a barrel on Monday.

Gold Market News

Metals Change
Silver -0.66%
Gold prices are edging higher today. December gold lost 2% to $1910.60 an ounce on Monday.

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