Oil prices reached their lowest point in two-months
The markets were closed for Labor Day Holiday.
Oil prices hit their lowest point since July as the market is oversupplied, and the pick-up in demand is still affected by the pandemic. Brent Oil fell 1.4% to $42.06 per barrel, while Oil lost 1.6% to $39.15.
Gold added 0.2% to $1,937.15 per ounce.
The Dollar Index traded at 93.
Asia and Australia
The markets were mixed on Monday. The economic data from China showed that the country’s imports fell 2.1% in August. However, the mainland’s benchmark, HongKong45 edged up 0.19%.
Japan225 lost 0.5% after SoftBank came under scrutiny amid buying call options on US-listed technology stocks worth $4 billion.
Australia200 inched down 0.02% despite the announcement made by its Prime Minister regarding the purchase of two potential #COVID-19 #vaccines.
USD/JPY traded at 106.28.
AUD/USD ended the day at 0.7280.
Despite the negative data received from Germany regarding the industrial output, the benchmarks closed higher. Moreover, they even didn’t budge over the new tensions between the EU and the UK about #Brexit. Germany30 gained 0.8%, while France40 went up 0.7%.
UK100 added 1.5%.
EUR/GBP traded 0.6% lower at 1.1138.
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Sources: investing.com, marketwatch.com
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