Global equity markets closed higher in Europe last Friday but are still far from breaking out of the bearish zone.
Looking at the situation at the last close, the European STOXX 600 index ended higher at 1.3% with construction stocks gaining 2.4% and media stocks gaining 2.3%.
However, the European blue-chip index ended September trade down 7.8%, its worst performance since June and down 6% overall in the 3rd quarter of the year.
The same situation was also felt by Wall Street when the main indexes closed the curtain of the 3rd quarter on a negative note when the personal spending data of the United States (US) was strong, bringing back fears of a rate hike.
The Dow Jones Industrial Average was down 1.71% at 28,725.51, the Nasdaq Composite was down 1.51% at 10,575.62 and the S&P 500 was down 1.51% at 3,585.62.
On a monthly basis, the Dow Jones declined by 8.8% while the S&P 500 plunged 9.3% and the Nasdaq fell 10.5%.
Asia Pacific shares also retreated on Friday following an overnight fall in Chinese equities even though the 'Great Wall' country's manufacturing data was understood to have expanded in August.
Market analysts comment that equity conditions are expected to continue to move under pressure especially after the increase in interest rates by the Federal Reserve (Fed).
Meanwhile, the opening of the Asian trading session this morning saw Japan's Nikkei 225 fall 1.07% while the Topix lost 1% and Australia's S&P/ASX 200 slipped 0.65%.
Overall MSCI's broadest Asia Pacific index outside Japan fell 0.32%.
Among the focuses throughout the week that are expected to impact the movement of equities are the ISM manufacturing and services PMI data, job opening data and US ADP and NFP data.
In addition, the OPEC meeting and several speeches by Fed officials are also expected to have some influence on equity movements.
Meanwhile, oil commodity movements saw Brent futures up 3.3% at $87.97 while US crude oil futures jumped 3.21% at $82.04.
