Equities advance intact ahead of first presidential debate - 29.9.2020

The Dollar weakening 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, lost 0.4% Monday as Cleveland Federal Reserve Bank President Loretta Mester warned that the US economy remained “fragile”. Both EUR/USD and GBP/USD reversed their sliding Monday with both pairs higher currently. Both AUD/USD and USD/JPY reversed their retreating yesterday with Australian dollar higher against the greenback currently while yen retracing lower.

Futures on three main US stock indexes are up currently ahead of Federal Open Market Committee members Clarida’s, Quarle’s and William’s speeches starting at 19:40 CET today. US main stock benchmarks ended solidly higher Monday recording gains ranging from 1.5% to 1.9%. European stock indexes are edging higher currently after a rally yesterday led by banking shares. Asian indexes are mixed today with Hong Kong’s Heng Seng Index leading the losses.

Brent is edging down today. Oil prices ended higher on Monday after reports oil firms in Norway plan to close down 22% of the country’s oil-and-gas output, or 900,000 barrels of oil equivalent per day, if oil workers go on strike Wednesday. The US oil benchmark West Texas Intermediate (WTI) for October climbed 0.9% Monday but is down currently. November Brent crude rose 1.2% to $42.43 a barrel on Monday.