![(01 October 2020)DAILY MARKET BRIEF 2:Markets in China are closed for the Mid-Autumn Festiva (01 October 2020)DAILY MARKET BRIEF 2:Markets in China are closed for the Mid-Autumn Festiva](https://c.mql5.com/6/874/splash-740115.png)
(01 October 2020)DAILY MARKET BRIEF 2:Markets in China are closed for the Mid-Autumn Festiva
![Jiming Huang Jiming Huang](https://c.mql5.com/avatar/2015/11/563C54E3-36DF.jpg)
In the commodity market, oil prices are mixed but steady on Thursday, as renewed hopes for US stimulus are supporting the market. However, the persistent worries about fuel demand are putting pressure. At the time of writing, WTI is down 0.15% to $40.45 but Brent is up 0.57% to $42.55. The market reacted positively after the Trump administration came with the counteroffer on new stimulus.
The stimulus talks have bolstered interest in gold as well, with the metal benefiting from a weakening US dollar. Gold is now up 0.37% and has just broken above the $1,900 mark again after doing so yesterday.
In FX, the US dollar fell to weekly lows as investors are selling fiat amid increased hopes for more stimulus. The USD Index is down 0.26% to 93.690. EUR/USD is up 0.28% to 1.1751. The greenback fell on upbeat economic data as well, as investors are interested in investing their cash in the economy.
The Australian dollar is the best performing currency among majors. The Aussie is supported by labor market data and the easing of coronavirus restrictions.
The euro is up against the USD, but it may suffer in the longer-term, as the European Central Bank said it might adopt a Fed-like average inflation targeting measure that would see interest rates close to zero for much longer.
The British pound is down against both the USD and the euro amid Brexit talks uncertainty and stricter lockdown.