Currencies Steady as Trading Week Begins: Markets Wrap - BNN

Currencies Steady as Trading Week Begins: Markets Wrap – BNN

An employee wearing protective gloves handles bundles of Indonesian 50,000 rupiah banknotes at a PT Ayu Masagung currency exchange in Jakarta, Indonesia, on Tuesday, Aug. 18, 2020. Rupiah, Asia’s worst-performing currency this quarter, is due for a turnaround and it may begin this week should Bank Indonesia leave interest rates on hold. Photographer: Dimas Ardian/Bloomberg
(Bloomberg) — Currencies began the week with muted moves and stocks in Asia were on course for modest gains as investors weighed further signs of recovery in China against more virus outbreaks in some parts of the world.

The dollar was steady against most G-10 peers early Monday. The S&P 500 rose on Friday, when equity-index futures in Japan and Australia edged higher.

Global equities are on course for the first month of losses since March amid mounting signs that the pace of economic recovery will slow with an uptick in global coronavirus cases and a stall in further government aid. Data over the weekend showed profits at China industrial companies grew for a fourth consecutive month in August.

Here are some key events coming up:

  • The final scheduled round of talks between the U.K. and EU on a post-Brexit trade deal takes place in Brussels on Monday.
  • On Tuesday, the first U.S. presidential debate will take place between President Donald Trump and Democratic opponent Joe Biden.
  • The EIA crude oil inventory report comes out Wednesday.
  • The September U.S. employment report on Friday will be the last before the November election.

These are the main moves in markets:

Stocks

  • The S&P 500 rose 1.6% on Friday.
  • Futures on Japan’s Nikkei 225 added 0.6% on Friday.
  • Hang Seng Index futures closed Friday little changed.
  • Futures on Australia’s S&P/ASX 200 Index gained 0.3%.

Currencies

  • The yen was at 105.53 per dollar.
  • The euro bought $1.1627.
  • The offshore yuan was at 6.8306 per dollar.

Bonds

  • The yield on 10-year Treasuries ended last week at 0.65%.

Commodities

  • West Texas Intermediate crude ended Friday at $40.25 a barrel.
  • Gold was at $1,861.58 an ounce.

©2020 Bloomberg L.P.

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