Stocks falter as Evergrande uncertainty remains a drag - 27.9.2021

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 0.3% on Friday after US Census Bureau report new home sales beat market expectations for August.

Both EUR/USD and GBP/USD reversed their climbing Friday as the IFO Institute reported German business sentiment declined for the third consecutive month in September. Euro is lower against the Dollar currently while Pound is higher. USD/JPY continued its climbing Friday while AUD/USD reversed its advancing with the Australian dollar higher against the Greenback currently and yen lower.

Futures on US equity benchmarks are up currently ahead of durable goods orders report due at 14:30 CET today. The Wall Street ended mixed Friday as investors watched for progress on President Joe Biden's spending and budget bills: the three main US stock benchmarks recorded daily returns ranging from --0.3% to +0.15%.

European stock indexes are up currently after ending lower on Friday ahead of German federal elections on Sunday. Germany's center-left Social Democrats narrowly won their first national election since 2005 and are expected to start the process of trying to form a government after they ended 16 years of conservative-led rule under Angela Merkel. Asian indexes are mixed today with Shanghai Composite leading losses while China’s central bank added more liquidity to the financial system.

Brent is extending gains currently. Prices rose on Friday amid concerns over supply tightness in the United States amid reports some members of the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, face difficulties in raising output due to under-investment or maintenance delays during the pandemic. West Texas Intermediate (WTI) futures added 0.9% and is higher currently. Brent crude rose 1.1% to $78.09 a barrel on Friday.