The Stoxx Europe 600 Index gained 1.6%, DAX 30 climbed 2.0%, CAC 40 jumped 1.8% and FTSE 100 climbed 2.4%
On Monday, U.S. stock markets were closed to observe the Labor Day. Later today, the National Federation of Independent Business will post its Small Business Optimism Index for August.
European stocks were broadly higher. The Stoxx Europe 600 Index rose 1.6%, Germany’s DAX 30 surged 2.0%, France’s CAC 40 climbed 1.8% and U.K.’s FTSE 100 jumped 2.4%.
WTI crude oil futures (October) slid 1.4% to $39.21 a barrel. Government data showed that China’s crude imports dropped to 47.48 million tons in August from 51.29 million tons in July, down for a second straight month.
Spot gold was flat at $1,933 an ounce.
On the forex front, the ICE U.S. Dollar Index gained 0.2% on day to 93.06 in thin holiday trading.
EUR/USD fell 0.2% to 1.1818. Official data showed that German industrial production grew 1.2% on month in July.
GBP/USD plunged 1.0% to 1.3166. European Commission President Ursula von der Leyen warned the U.K. that implementing the Withdrawal Agreement was “an obligation under international law and a prerequisite for any future partnership”. Her comments came after British Prime Minister Boris Johnson said the country is ready to walk away if no agreement is struck by October 15.
USD/JPY edged up 0.1% to 106.30. Government data showed that Japan’s final readings of 2Q annualized GDP was confirmed at -28.1% on quarter, while household spending declined 7.6% on year in July.
Commodity-linked currencies were mixed against the greenback, AUD/USD was little changed at 0.7282, NZD/USD dropped 0.4% to 0.6696, while USD/CAD rose 0.2% to 1.3091. Official data showed that China’s exports rose 9.5% on year in August while imports fell 2.1%.
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