Global equities mixed after Wall Street sets more records - 2.11.2021

The Dollar weakening has not ceased currently. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, lost 0.24% on Monday as Institute for Supply Management reported US manufacturing activity slowed in October.

EUR/USD reversed its retreating Monday while GBP/USD continued sliding despite statistics office Destatis report German retail sales declined in September. Euro is higher against the Dollar currently while Pound is lower still. AUD/USD continued retreating while USD/JPY continued advancing Monday. The Australian dollar is lower against the Greenback currently and yen higher as the Reserve Bank of Australia’s step toward unwinding extraordinary pandemic stimulus policies by abandoning an ultra-low target for bond yields was deemed less hawkish than expected.

Futures on three main US stock indexes are down while US 10-year Treasury yields inched down to 1.559% currently. Stocks edged higher Monday ahead of Federal Reserve meeting starting today. The Federal Reserve is expected to approve on Wednesday plans to scale back its $120 billion monthly bond-buying program. The three major Wall Street stock benchmarks notched fresh records, booking daily gains in the range of 0.2% to 0.6% led by energy shares.

European stock indexes are up currently after ending higher Monday with all sectors finishing in positive territory. Asian indexes are mostly down today led by Shanghai Composite despite Beijing’s pledge of more support for the consumer services sector.