Global equities down ahead of ECB decision - 9.9.2021

The Dollar strengthening has halted currently ahead of the US Labor Department report at 14:30 CET expected to show 343 thousand Americans sought unemployment benefits over the last week, little changed from 340 thousand the previous 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, gained 0.3% Wednesday.

Both EUR/USD and GBP/USD added to their losses on Wednesday after reports French trade deficit and Italian retail sales were both worse than expected in July. Both pairs are lower currently. USD/JPY ended little changed on Wednesday while AUD/USD continued sliding with the yen higher against the Greenback currently and Australian dollar lower still.

The US stock index futures are down currently ahead of speeches and remarks today by several Federal Open Market Committee members starting by Bank of San Francisco President Mary Daly’s virtual panel discussion scheduled for 17:05 CET. The three main US stock indexes booked losses Wednesday ranging from -0.13% to -0.57% as Federal Reserve’s Beige Book report said US economic growth "downshifted slightly" in July and August amid shortages of workers and materials.

European stock indexes are extending losses currently after ending down Wednesday with autos shares leading losses. The European Central Bank today is expected to announce at 13:45 CET a cut to the pace of its emergency bond purchases from next quarter. Asian stock indexes are mixed today with Shanghai Composite leading gains despite sharp drops in tech giants like Tencent and Netease after reports China’s government on Wednesday summoned gaming firms to ensure they implement new rules for the sector.