Asia Morning Oct 6
The U.S. dollar sees weakness return as investors' risk appetite grows...
Share this:
On Monday, U.S. stocks rebounded. The Dow Jones Industrial Average jumped 465 points (+1.68%) to 28148, the S&P 500 rose 60 points (+1.80%) to 3408, and the Nasdaq 100 surged 253 points (+2.25%) to 11509.
S&P 500 Index: Daily Chart
Sources: GAIN Capital, TradingView
Market momentum picked up after President Donald Trump said that he would leave hospital in the evening of Monday.
Semiconductors & Semiconductor Equipment (+3.30%), Energy (+2.90%) and Technology Hardware & Equipment (+2.78%) sectors performed the best. Energy stocks, such as Halliburton (HAL +5.57%) and Occidental Petroleum (OXY +5.88%), jumped as oil prices surged over 6%. Vaccine-related stocks Regeneron Pharmaceuticals (REGN +7.18%) and Gilead Science (GILD +2.30%) also posted gains.
Approximately 63% (62% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average and 58% (50% in the prior session) were trading above their 20-day moving average.
Regarding U.S. economic data, the Markit U.S. Services Purchasing Managers' Index (PMI) posted at 54.6 for September (as expected). The Institute for Supply Management (ISM) Services Index rose to 57.8 (56.2 expected).
European stocks were broadly higher. The Stoxx Europe 600 Index rose 0.81%, Germany's DAX 30 jumped 1.10%, France's CAC 40 gained 0.97% and the U.K.'s FTSE 100 was up 0.69%.
U.S. Treasury prices sank further as trading volumes exceeded averages. The benchmark U.S. 10-year Treasury yield bounced to 0.765% from 0.690% Friday. The 30-year yield climbed to 1.581%, the highest level since June 10.
Upbeat market sentiment and a weaker dollar helped to lift commodity prices. Spot gold price increased $13 to $1,913 an ounce.
U.S. WTI crude oil futures (November) surged $2.31 (+6.23%) to $39.36 at the close.
On the forex front, the U.S. dollar saw weakness return as investors' risk appetite grew along with the rallying stock markets. The ICE Dollar Index slid 0.36% to 93.47.
The Japanese yen also softened. USD/JPY gained 0.39% to 105.76.
EUR/USD rose 0.57% to 1.1783. European Commission data showed that the Eurozone's retail sales rose 4.4% on month in August (+2.5% expected).
September Markit Services PMI was reported at 48.0 for the Eurozone (47.6 expected), 50.6 for Germany (49.1 expected), 47.5 for France (as expected) and 56.1 for the U.K. (55.1 expected).
GBP/USD climbed 0.37% to 1.2979. Meanwhile, latest data from the Commodity Futures Trading Commission showed that leveraged funds cut net long positions on the pound to the lowest level since August.
Commodity-related currencies had a positive day. AUD/USD added 0.27% to 0.7180, while USD/CAD fell 0.32% to 1.3264.
S&P 500 Index: Daily Chart
Sources: GAIN Capital, TradingView
Market momentum picked up after President Donald Trump said that he would leave hospital in the evening of Monday.
Semiconductors & Semiconductor Equipment (+3.30%), Energy (+2.90%) and Technology Hardware & Equipment (+2.78%) sectors performed the best. Energy stocks, such as Halliburton (HAL +5.57%) and Occidental Petroleum (OXY +5.88%), jumped as oil prices surged over 6%. Vaccine-related stocks Regeneron Pharmaceuticals (REGN +7.18%) and Gilead Science (GILD +2.30%) also posted gains.
Approximately 63% (62% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average and 58% (50% in the prior session) were trading above their 20-day moving average.
Regarding U.S. economic data, the Markit U.S. Services Purchasing Managers' Index (PMI) posted at 54.6 for September (as expected). The Institute for Supply Management (ISM) Services Index rose to 57.8 (56.2 expected).
European stocks were broadly higher. The Stoxx Europe 600 Index rose 0.81%, Germany's DAX 30 jumped 1.10%, France's CAC 40 gained 0.97% and the U.K.'s FTSE 100 was up 0.69%.
U.S. Treasury prices sank further as trading volumes exceeded averages. The benchmark U.S. 10-year Treasury yield bounced to 0.765% from 0.690% Friday. The 30-year yield climbed to 1.581%, the highest level since June 10.
Upbeat market sentiment and a weaker dollar helped to lift commodity prices. Spot gold price increased $13 to $1,913 an ounce.
U.S. WTI crude oil futures (November) surged $2.31 (+6.23%) to $39.36 at the close.
On the forex front, the U.S. dollar saw weakness return as investors' risk appetite grew along with the rallying stock markets. The ICE Dollar Index slid 0.36% to 93.47.
The Japanese yen also softened. USD/JPY gained 0.39% to 105.76.
EUR/USD rose 0.57% to 1.1783. European Commission data showed that the Eurozone's retail sales rose 4.4% on month in August (+2.5% expected).
September Markit Services PMI was reported at 48.0 for the Eurozone (47.6 expected), 50.6 for Germany (49.1 expected), 47.5 for France (as expected) and 56.1 for the U.K. (55.1 expected).
GBP/USD climbed 0.37% to 1.2979. Meanwhile, latest data from the Commodity Futures Trading Commission showed that leveraged funds cut net long positions on the pound to the lowest level since August.
Commodity-related currencies had a positive day. AUD/USD added 0.27% to 0.7180, while USD/CAD fell 0.32% to 1.3264.
On Monday, U.S. stocks rebounded. The Dow Jones Industrial Average jumped 465 points (+1.68%) to 28148, the S&P 500 rose 60 points (+1.80%) to 3408, and the Nasdaq 100 surged 253 points (+2.25%) to 11509.
S&P 500 Index: Daily Chart
Sources: GAIN Capital, TradingView
Market momentum picked up after President Donald Trump said that he would leave hospital in the evening of Monday.
Semiconductors & Semiconductor Equipment (+3.30%), Energy (+2.90%) and Technology Hardware & Equipment (+2.78%) sectors performed the best. Energy stocks, such as Halliburton (HAL +5.57%) and Occidental Petroleum (OXY +5.88%), jumped as oil prices surged over 6%. Vaccine-related stocks Regeneron Pharmaceuticals (REGN +7.18%) and Gilead Science (GILD +2.30%) also posted gains.
Approximately 63% (62% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average and 58% (50% in the prior session) were trading above their 20-day moving average.
Regarding U.S. economic data, the Markit U.S. Services Purchasing Managers' Index (PMI) posted at 54.6 for September (as expected). The Institute for Supply Management (ISM) Services Index rose to 57.8 (56.2 expected).
European stocks were broadly higher. The Stoxx Europe 600 Index rose 0.81%, Germany's DAX 30 jumped 1.10%, France's CAC 40 gained 0.97% and the U.K.'s FTSE 100 was up 0.69%.
U.S. Treasury prices sank further as trading volumes exceeded averages. The benchmark U.S. 10-year Treasury yield bounced to 0.765% from 0.690% Friday. The 30-year yield climbed to 1.581%, the highest level since June 10.
Upbeat market sentiment and a weaker dollar helped to lift commodity prices. Spot gold price increased $13 to $1,913 an ounce.
U.S. WTI crude oil futures (November) surged $2.31 (+6.23%) to $39.36 at the close.
On the forex front, the U.S. dollar saw weakness return as investors' risk appetite grew along with the rallying stock markets. The ICE Dollar Index slid 0.36% to 93.47.
The Japanese yen also softened. USD/JPY gained 0.39% to 105.76.
EUR/USD rose 0.57% to 1.1783. European Commission data showed that the Eurozone's retail sales rose 4.4% on month in August (+2.5% expected).
September Markit Services PMI was reported at 48.0 for the Eurozone (47.6 expected), 50.6 for Germany (49.1 expected), 47.5 for France (as expected) and 56.1 for the U.K. (55.1 expected).
GBP/USD climbed 0.37% to 1.2979. Meanwhile, latest data from the Commodity Futures Trading Commission showed that leveraged funds cut net long positions on the pound to the lowest level since August.
Commodity-related currencies had a positive day. AUD/USD added 0.27% to 0.7180, while USD/CAD fell 0.32% to 1.3264.
S&P 500 Index: Daily Chart
Sources: GAIN Capital, TradingView
Market momentum picked up after President Donald Trump said that he would leave hospital in the evening of Monday.
Semiconductors & Semiconductor Equipment (+3.30%), Energy (+2.90%) and Technology Hardware & Equipment (+2.78%) sectors performed the best. Energy stocks, such as Halliburton (HAL +5.57%) and Occidental Petroleum (OXY +5.88%), jumped as oil prices surged over 6%. Vaccine-related stocks Regeneron Pharmaceuticals (REGN +7.18%) and Gilead Science (GILD +2.30%) also posted gains.
Approximately 63% (62% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average and 58% (50% in the prior session) were trading above their 20-day moving average.
Regarding U.S. economic data, the Markit U.S. Services Purchasing Managers' Index (PMI) posted at 54.6 for September (as expected). The Institute for Supply Management (ISM) Services Index rose to 57.8 (56.2 expected).
European stocks were broadly higher. The Stoxx Europe 600 Index rose 0.81%, Germany's DAX 30 jumped 1.10%, France's CAC 40 gained 0.97% and the U.K.'s FTSE 100 was up 0.69%.
U.S. Treasury prices sank further as trading volumes exceeded averages. The benchmark U.S. 10-year Treasury yield bounced to 0.765% from 0.690% Friday. The 30-year yield climbed to 1.581%, the highest level since June 10.
Upbeat market sentiment and a weaker dollar helped to lift commodity prices. Spot gold price increased $13 to $1,913 an ounce.
U.S. WTI crude oil futures (November) surged $2.31 (+6.23%) to $39.36 at the close.
On the forex front, the U.S. dollar saw weakness return as investors' risk appetite grew along with the rallying stock markets. The ICE Dollar Index slid 0.36% to 93.47.
The Japanese yen also softened. USD/JPY gained 0.39% to 105.76.
EUR/USD rose 0.57% to 1.1783. European Commission data showed that the Eurozone's retail sales rose 4.4% on month in August (+2.5% expected).
September Markit Services PMI was reported at 48.0 for the Eurozone (47.6 expected), 50.6 for Germany (49.1 expected), 47.5 for France (as expected) and 56.1 for the U.K. (55.1 expected).
GBP/USD climbed 0.37% to 1.2979. Meanwhile, latest data from the Commodity Futures Trading Commission showed that leveraged funds cut net long positions on the pound to the lowest level since August.
Commodity-related currencies had a positive day. AUD/USD added 0.27% to 0.7180, while USD/CAD fell 0.32% to 1.3264.
Related tags:
Latest market news
Open an account in minutes
Experience award-winning platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 0.3 pts on indices.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
GBP/USD forecast: US dollar surges as bonds implode
The US dollar continued to press higher deep into the European session, supported by the slump in the bond markets as yields broke out across the curve. Following the recent hawkish Fed rate hike, yield spreads between the US and the rest of the world has continually increased, and that motion continued today, helped in part by some forecast-beating US macro data and hawkish Fed commentary.
Australian Dollar Technical Outlook: AUD/USD Breakdown Threatens Deeper Correction 9 23 2026
AUD/USD remains under pressure after breaking key trend support, with the latest decline putting the focus on the next major downside pivot.
USD/JPY forecast: US dollar strengths amid hawkish Fed despite recent oil weakness
The US dollar has extended its gains this morning, even if oil prices finished lower for the fifth consecutive day yesterday. Oil prices have bounced back in this first half of today’s session, causing a bit of pressure on currencies that rely on energy imports such as the euro, pound, Swiss franc, and Japanese yen. But it was the dollar that was exerting the most pressure, amid hawkish FedSpeak. Meanwhile, European indices and precious metals were also under a bit of pressure amid the strength of the dollar.
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.