Markets backtrack ahead of Wall Street reopening - 6.9.2022

The Dollar strengthening has halted 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, added 0.2% on Monday.

EUR/USD continued sliding while GBP/USD reversed its retreating Monday as Liz Truss was elected leader of the UK’s ruling Conservative Party and will succeed Boris Johnson as Britain’s prime minister. Both pairs are up currently. USD/JPY resumed its climbing yesterday while AUD/USD declined with both the yen and the Australian dollar lower against the Greenback currently.

Futures on three main US stock indexes are up currently ahead of the Institute for Supply Management's Services PMI report at 16:00 CET today with the yield on benchmark 10-year Treasury notes inching up to 3.214%.The three benchmark indexes ended lower on Friday recording daily losses ranging from 1.1% to 1.3%.

European stock indexes futures are retreating currently after closing lower Monday as auto shares led losses. Asian indexes futures are mixed today with Australia’s All Ordinaries ASX 200 Index leading losses while data showed Japanese household spending grew at a slower than expected pace in July.

Brent is edging down currently. Prices rose yesterday as OPEC+ members agreed to a small production cut of 100,000 barrels per day to support prices. US West Texas Intermediate WTI added 2.3% but is lower currently. Brent gained 2.9% to $95.74 a barrel on Monday.