Equities up ahead of US markets reopening - 8.9.2020

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, rose 0.3% Monday. EUR/USD and GBP/USD continued sliding Monday as Germany reported a 1.2% over month rise in industrial production for July, which was slower than expected, and Prime Minister Boris Johnson threatened to walk away from the Brexit talks if no deal is struck with European Union by October 15. Both pairs are lower currently. AUD/USD reversed its climbing yesterday while USD/JPY’s advancing continued with both yen and Australian dollar higher against the greenback currently.

Futures on three main US stock indexes are rising currently ahead of the reopening of US markets after Labor Day national holiday Monday. US stocks ended down Friday after the August jobs report showed US economy added back jobs at a slowing pace in August. European stock indexes are pulling back currently after a rebound yesterday with UK-European Union trade deal talks due to restart today. Asian indexes are mostly higher today with Nikkei joining Chinese indexes despite government report Japan's economy contracted slightly more than initially estimated in the April-June quarter.

Brent is extending losses today. Oil prices ended lower on Monday after Saudi Arabia’s Aramco, the world’s top oil exporter, cut the October official selling prices for its Arab light crude oil. The US oil benchmark West Texas Intermediate (WTI) for October fell Monday and are down currently. November Brent crude lost 1.5% to $42.01 a barrel on Monday.