On Friday S&P 500 futures price movement was even more active than the analysts expected. The Globex session was weak, and ESZ cash session opened with a 2149.75 while sold down to 2143.25 after 10.00 a.m. (CST). From that point S&P 500 rating started to rally and this process stopped with the essential information about ECB’s Constancio weakening still unconfirmed. As a result, the ES made it higher, reaching 2157.25.
The market was quiet almost for the whole day. One of the reasons for this situation was the news about Deutsche Bank (DE: DBKGn) and European companies injection preparations. This process makes them able to retain their solvent status despite still conducted negotiations with the U.S. Department of Justice on $12 billion dollar fine.
Night before this, S&P had an opening rating at 2155.25, traded at a maximum of 2156.25 and then returning to its previous position. In time of European session open it went low to 2148.00 than rating started to rise back to 2152.25. In general, the S&P remained relatively stable ahead of following NFP report, while equities in Asia and Europe dipped.
Matthew hurricane went through Haiti and struck the Bahamas. This hurricane made its landfall in Sothern Florida shores and moved to Jacksonville. As a result, the crude oil indicators demonstrated a spike awhile the natural gas futures had a rally indicator as well as U.S. dollar. Also, the hurricane can take the S&P rating down in any or even each one index.
Asia markets and GBP: the lowest for now
Nikkei index completed its fall by 0.23% since the major part of markets in Asia closed low. The biggest part of European markets also was trading low on Friday. DAX went down by by 0.44%.
The main event in currency sector that night was the GBP fall. GBP/USD went down in more than 700 pip loss in minutes and then mostly recovered after sold off. However, the pair position now is low – even lower than the previous rating formed by a Brexit economic impact.
NFP report can have uncertain consequences for the S&P – numbers were weak, but not too weak to wait for Federal Reserve decision. The ESZ operation may lead to 2170 rating. However, some of them already made it to 2140 and lower. A chance to December rate hike analysts describe as 50/50.