October 2, 2020
Top daily news
Global markets are retracing lower currently after President Trump tweeted “tonight, @FLOTUS and I tested positive for COVID-19. We will begin our quarantine and recovery process immediately.” Wall Street extended gains Thursday led by technology shares on hopes lawmakers will agree on new stimulus measures following reports Democrats in the US House of Representatives were working on a $2.2 trillion package. Shares of Google rose 1.52% outperforming market, with Amazon gaining 2.3%.
Forex news
| Currency Pair | Change |
| EUR USD | -0.2% |
| GBP USD | -0.22% |
| USD JPY | -0.39% |
The Dollar weakening has halted currently ahead of the US non-farm payrolls report at 16:30 CET today. 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% Thursday despite Labor Department report below expected 837 thousand Americans filed for first-time benefits instead of forecast of 850,000. At the same time the Institute of Supply Management’s manufacturing index slipped to 54.6 in September from a 21-month high of 56. A reading of 50 or above indicates improving conditions. EUR/USD while GBP/USD moved lower yesterday. Pound is higher against the Dollar currently while euro is down. USD/JPY joined AUD/USD’s continued rising yesterday with yen rising against the greenback currently while Australian dollar is lower.
Stock Market news
| Indices | Change |
| Dow Jones Index | -1.09% |
| Australian Stock Index | -1.39% |
| Nikkei Index | -0.24% |
| GB 100 Index | -0.6% |
Futures on three main US stock indexes are lower currently after extending gains Thursday. The three main US stock benchmarks recorded gains ranging from 0.1% to 1.4% as House Democrats approved a $2.2 trillion economic stimulus plan awhile talks drag on between House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin. European stock indexes are down today after ending mostly higher Thursday. Asian indexes are mixed currently with Australia’s All Ordinaries ASX 200 Index leading retreaters after the release of disappointing Australian retail sales data.
Commodity Market news
| Commodities | Change |
| Brent Crude Oil | -2.19% |
| WTI Crude | -2.31% |
Brent is extending losses today. Oil prices fell yesterday despite the Energy Information Administration report Wednesday that US crude inventories fell for a third straight week, contracting by 2 million barrels. The US oil benchmark West Texas Intermediate (WTI) futures ended sharply lower yesterday: November WTI tumbled 3.7% and is lower currently. December Brent crude closed 3.2% lower at $40.93 a barrel on Thursday.
Gold Market News
| Metals | Change |
| Gold | +0.17% |
Gold prices are extending gains today . December gold rose Thursday settling 1.1% higher at $1908.40 an ounce.
Market Analysis provided by IFCMarkets.com
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