Equities rebound intact after Wall Street bounce - 12.9.2022

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, dropped 0.6% on Friday.

Both EUR/USD and GBP/USD reversed their sliding Friday after record European Central Bank rate hike Thursday while Bank of England said on Friday it would postpone its September Monetary Policy Committee meeting by a week as the country enters a period of national mourning. Both Pound and euro are higher against the Dollar currently. USD/JPY reversed its advancing Friday while AUD/USD reversed its sliding with the yen lower against the Greenback currently and Australian dollar higher still.

Futures on US equity benchmarks are up currently after US stocks closed up on Friday despite Fed Governor Christopher Waller’s statement he supports another "significant increase" in the benchmark lending rate at the September 20-21 policy meeting. The three main US stock benchmarks recorded daily gains ranging from 1.2% to 2.1% - registering gains for the week too.

European stock indexes futures are gaining currently after ending higher on Friday with mining shares leading gains. Asian indexes futures are mostly higher today with Australia’s ASX 200 index leading gains with markets closed in China due to a holiday.

Brent is extending gains today. Prices rebounded Friday as energy services firm Baker Hughes reported active US oil rigs count fell five to 591 last week, the lowest since mid-June. West Texas Intermediate (WTI) futures gained 3.9% and is higher currently. Brent crude rallied 4.1% to $92.84 a barrel on Friday. The benchmarks lost 0.1% and 0.2% on the week respectively.