Global equities rebound after Wall Street closes the week down - 23.8.2021

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, slipped 0.1% on Friday after Dallas Federal Reserve President Robert Kaplan, a well-known hawk, said he might reconsider the need for an early start to tapering if the virus harms the US economy.

EUR/USD reversed its sliding Friday while GBP/USD retreated further as federal statistics office Destatis reported German producer prices index growth accelerated in July. Both pairs are higher against the Dollar currently. USD/JPY reversed its sliding Friday while AUD/USD slipped further with the Australian dollar higher against the Greenback currently and yen lower still.

Futures on US equity benchmarks are up currently after the Wall Street rebounded Friday on bargain hunting. The three main US stock benchmarks recorded daily gains ranging from 0.65% to 1.19%.

European stock indexes are rising currently after ending higher on Friday with retail shares leading the gains. Asian indexes are advancing today with NIKKEI leading gains on dip buying while Chinese stocks bounced back as authorities reported no new local COVID-19 cases for the first time since July and technology and healthcare stocks helped Hong Kong equities rise after a two-day fall.