Markets down as rate worries persist - 3.10.2023

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, jumped 0.7% on Monday.

EUR/USD’s joined GBP/USD’s continuing sliding on Monday while SP Global reported German manufacturing activity continued to decline in September. Both euro and Pound are lower against the dollar currently. USD/JPY accelerated its climbing yesterday while AUD/USD reversed its advancing with both the yen higher against the Greenback currently and Australian dollar lower.

Futures on three main US stock indexes are down currently with the yield on benchmark 10-year Treasury steady at 4.683%. US markets closed mixed again on Monday with the three main stock benchmarks recording daily returns in the range from -0.2% to 0.67% as ISM data showed US factory activity declined at a slower than expected pace in September.

European stock indexes futures are mixed currently after closing lower on Monday with utility shares leading losses. Asian indexes futures are in red today with Japan’s Nikkei leading losses and Chinese markets closed for the week for the Golden Week Holiday while the Reserve Bank of Australia stood pat with rates at 4.1%.

Brent is falling currently. Prices ended solidly lower on Monday at a three-week low as Turkey's energy minister said the country will restart operations this week on a pipeline from Iraq that has been suspended for about six months. US West Texas Intermediate WTI fell 2.2% and is lower currently. Brent lost 1.6% to $90.71 a barrel on Monday.