The S&P500 and Nasdaq futures are lower by 0.5% and the EURSXX50 is trading at lower 0.65% this morning after the disappointing PMI readings in the Eurozone. The German DAX is lower by 0.42% as well as investors worry the second wave of the coronavirus at the end of the summer and the gradual return to school, a major issue for EU and US economies. Asian markets closed the trading week positive, the NIKKEI gained 0.55% and the CSI 300 closed higher by 0.85%. The dollar index is higher across the board versus majors this morning, trading at 93.4, up 0.6%. Most other FX markets are trading near the flat line. Gold and Silver are trading sharply lower on the stronger dollar, Gold trades at $1,928 per ounce, down 1% while Silver trades at $24.44 per ounce, down 2.58%. Oil is trading lower as well, trading at $42.41 per barrel, down 0.94% this morning as investors fear the second coronavirus wave and the slow pace of the EU recovery, as well as sluggish global demand, as Indian Crude Oil imports fell to 2010 levels amid lockdowns and weak demand.
CAD Retail Sales at 8:30 am and US Flash Manufacturing PMI at 9:45 am are the important news on the agenda Friday, (all times EST).
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The Euro is trading sharply lower versus the US dollar this morning after a weaker than expected Eurozone PMI reading.
Oil prices continue to chop as investors fear the second coronavirus wave and weak Indian and Eurozone crude demand.
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