In European Equity Markets stocks finished lower on Monday as the euro hit its highest level against the dollar in more than two years, while energy shares declined in the wake of refinery shutdowns prompted by then-Hurricane Harvey that pummeled Texas. The Stoxx Europe 600 index fell 0.5 percent to 372.29, near session lows. The Stoxx Europe 600 Oil & Gas Index shed 0.4 percent as energy companies and investors assessed the impact of Hurricane Harvey. Shares of French oil producer Total SA were down 0.4 percent. Germany’s DAX 30 index fell 0.4 percent at 12,123.47 and France’s CAC 30 index gave up 0.5 percent at 5,079.75. SGL Carbon SE shares rose 3.4 percent after J.P. Morgan raised its rating on the carbon-fiber producer to overweight from neutral.

In Currency Markets the U.S. dollar fell to its lowest in roughly 16 months against a basket of major currencies and a more than 2-1/2-year low against the euro on Monday, following comments from central bankers on Friday and worries over Tropical Storm Harvey. The greenback was last down slightly against the yen at 109.27 yen after touching an eight-day high on Friday of 109.84 yen. ECB President Mario Draghi’s decision to hold back from talking down the euro at the central bankers’ meeting in Jackson Hole, despite the currency’s double-digit gains this year, continued to weigh on the dollar and sent the euro to $1.1963 Monday, its strongest against the greenback since January 2015. The pound rose 0.29 percent to $1.2916.

In Commodities Markets U.S. crude oil futures fell more than 3 percent on Monday but gasoline prices rose to two-year highs as Tropical Storm Harvey kept hammering the U.S. Gulf Coast, knocking out several refineries which backed up crude supplies and disrupted fuel production.  U.S. West Texas Intermediate crude futures were down 3.4 percent to $46.23 per barrel. Brent crude futures were down 1.3 percent at $51.73 per barrel. The WTI discount versus Brent expanded to as much as $5.48 per barrel, its widest in two years. Spot gold rose 0.6 percent to $1,298.11 an ounce, having touched its highest since Aug. 18 at $1,299.56. Silver was up 0.9 percent at $17.21 an ounce, having touched its highest since Aug. 18 at $17.26.

In US Equity Markets  the Dow and the S&P were unchanged in late-morning trading on Monday with losses in insurance and oil stocks offset by gains in shares of health and home improvement retail chains as investors assessed the impact of Tropical Storm Harvey. The Dow Jones Industrial Average was down 0.04 percent, at 21,803.91, the S&P 500 was up 0.11 percent, at 2,445.79. The Nasdaq Composite was up 0.39 percent, at 6,290.23, helped by a rise in Apple and Facebook. Home Depot was up 1 percent, while Lowe’s rose 0.52 percent as investors expected the two largest U.S. home improvement chains to be among the biggest beneficiaries of post-Harvey recovery.

In Bond Markets U.S. Treasuries were steady on Monday as market participants waited on data that will culminate in Friday’s August employment report for further indications of the strength of the U.S. economy. Benchmark 10-year notes were last down 2/32 to yield 2.18 percent, up from 2.17 percent on Friday. German 10-year bond yields fell about a basis point to a two-month low at 0.367 percent. Other euro zone bond yields were also down around 1-2 bps.