Global equities mixed after strong US jobs report - 8.11.2021

The Dollar strengthening has resumed 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 0.8% on Friday despite Bureau of Labor Statistics data showing the US added 531,000 non-farm jobs to the economy in October after creation of 312,000 new jobs in September when addition of 455,000 new jobs was forecast.

EUR/USD reversed its sliding Friday while GBP/USD continued retreating despite the German statistics department Destatis report the German industrial production dropped unexpectedly in September. Both euro and Pound are lower against the Dollar currently. Both USD/JPY and AUD/USD continued sliding Friday with both the Australian dollar and yen lower against the Greenback currently.

Futures on US equity benchmarks are down currently ahead of Fed Vice Chair Richard Clarida's talk on Fed and European Central Bank policy at 15:00 CET today. The Wall Street closed at records Friday following strong US payrolls report showing the unemployment rate ticked down to 4.6%: the three main US stock benchmarks recorded daily gains ranging from 0.2% to 0.6%.

European stock indexes are up currently after ending marginally higher on Friday with tech shares leading gains. Asian indexes are mixed today with Shanghai Composite Index after after weekend data showed China’s exports beat forecasts in October to deliver a record trade surplus.

Brent is advancing currently after Saudi Arabia’s state owned Saudi Aramco raised its official selling price of crude to all buyers across the globe. Prices rose on Friday after Organization of the Petroleum Exporting Countries and allies including Russia, known as OPEC+, agreed on Thursday to stick to their plan to raise oil output by 400,000 barrels per day from December despite a US call to accelerate output increases. West Texas Intermediate (WTI) futures jumped 3.1% and is higher currently. Brent crude rose 2.7% to $82.74 a barrel on Friday.