Markets perk up after Wall Street rebound - 7.8.2024

The Dollar strengthening is intact 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, ended 0.1% higher on Tuesday.

EUR/USD joined GBP/USD’s accelerated sliding yesterday. Pound is higher against the dollar currently while euro is lower. Both USD/JPY and AUD/USD reversed their retreating on Tuesday with the yen lower against the Greenback currently and Australian dollar higher still after the Bank of Japan said it won't raise interest rates when financial markets are unstable.

Futures on three main US stock indexes are up currently with the yield on benchmark 10-year US notes up at 3.913%. Stock indexes ended higher on Tuesday as three main stock benchmarks recorded daily gains in a range from 0.8% to 1.0% amid bargain hunting.

European stock indexes are rising currently after closing higher on Tuesday with tech shares leading gains. Asian indexes futures are advancing today with Japan’s Nikkei leading gains following Tuesday's 10% rally.

Brent is advancing currently. Prices ended higher yesterday as Libya's National Oil Corp said on Tuesday it would start to gradually decrease production at Sharara oilfield due to protests. The Energy Information Administration (EIA) will release its US inventory data at 18:30 CET today. The US oil benchmark West Texas Intermediate (WTI) added 0.4% and is higher currently. Brent gained 0.2% to $76.48 a barrel on Tuesday.