U.S. Dollar Holds while Crude Oil Rebounds

Japanese index futures rose as the dollar held gains against most major peers while crude oil rebounded. U.S. stocks fell a fourth day on concern lawmakers won’t reach a budget deal to avoid a government shutdown.

Nikkei 225 Stock Average futures were bid at 14,690 in the Osaka pre-market, from 14,680 in Chicago and Japan yesterday. Contracts on Australia’s S&P/ASX 200 Index (XPA) lost 0.1 percent. Standard & Poor’s 500 Index futures slipped 0.1 percent after the gauge fell 0.3 percent to cap the longest stretch of declines in a month. The dollar traded near a one-week high versus the yen and gained against New Zealand’s currency. Oil in New York snapped a four-day drop as gold advanced.

A private survey showed China’s economy slowed this quarter, while investor Jim Chanos told a conference in New York he isn’t convinced by the nation’s improving fundamentals. The Philippines publishes trade data, Japan issues its corporate services price index and Taiwan posts export orders. While the U.S. will release data on durable goods orders and new home sales today, investors are looking to the Oct. 4 payrolls report for clues on the timeline for reductions in monetary stimulus.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.