Equities venture up after US jobs data - 9.9.2024

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, ended 0.1% higher on Friday.

Both EUR/USD and GBP/USD reversed their climbing on Friday while federal statistics office Destatis reported German industrial production fell in July. Both Pound and euro are lower against the Dollar currently. USD/JPY accelerated its sliding on Friday while AUD/USD reversed its climbing with both the yen and Australian dollar lower against the Greenback currently.

US stock indexes futures are up currently after ending solidly lower on Friday. The three main US stock benchmarks recorded daily losses in the range from -2.55% to -1.0% after the nonfarm payrolls data showed US economy added below-expected 142,000 jobs in August while unemployment rate declined slightly from 4.3 per cent to 4.2 per cent.

European stock futures are rising after closing down on Friday led by technology, basic materials and energy shares. Asian stock indexes futures are mixed today with Hong Kong’s Hang Seng index leading losses while data on consumer prices from China showed producer prices disinflation accelerated in August.

Brent is edging up currently. Prices ended 2% lower on Friday while Bank of America lowered its Brent price forecast for the second half of 2024 to $75 a barrel from almost $90 previously. US West Texas Intermediate WTI fell 2.14% but is higher currently. Brent lost 2.24% to $71.06 a barrel on Friday. For the week Brent dropped 10%, while WTI lost around 8%.