*Equites moved higher as US and China are likely to return on the negotiation table by October. *The battle for safe havens eased off
Stocks
- The S&P 500 Index crossed above its 50-day SMA on a daily time frame ahead of the US NFP data. The index gained over 1.36% of 15:20 London time.
- The Stoxx Europe 600 Index jumped 0.63% despite a major slump in German factory order data: Act -2.7% forecast -1.5%.
- The UK FTSE continued to move higher as investors became less concerned about no-deal Brexit. The index increased by 0.01%
Currencies
- The Dollar Spot Index dropped 0.29% for the second consecutive day. Investors remain anxious ahead of US NFP data
- The Euro moved higher by 0.26% due to the weakness of the dollar and some hawkish monetary policy stance from the ECB policy makers.
- The British pound soared for the second day and gained another 0.94% today.
- The Japanese yen moved lower by 0.75% to 107.10.
Bonds
- The Yield on 10-year Treasuries soared by eleven basis points to 1.5772%.
- Britain’s 10-year yield jumped to 0.636%.
Commodities
- West Texas Intermediate crude moved back in green and continued its huge surge from yesterday on the back of more supporting inventory data. The price ranged from $57.05 to $55.75.
- Gold saw some serious sell off today and dropped over 1.69%.
