Stocks mixed following weak US data - 17.1.2022

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 0.4% higher on Friday after New York Fed President John Williams signaled coming rate increases to combat inflation.

Both GBP/USD and EUR/USD reversed their climbing Friday after the European Commission statistics office Eurostat report euro-zone’s trade surplus turned into deficit in November. Both euro and Pound are higher against the Dollar currently. AUD/USD continued sliding Friday while USD/JPY ended little changed with both yen and the Australian dollar lower against the Greenback currently.

Futures on US equity benchmarks are down currently with 10-year US treasury yields at 1.793%. US markets are closed for a holiday in the United States. US stocks ended mixed on Friday as US retail sales fell 1.9% in December and University of Michigan survey showed consumer sentiment fell sharply in January. The three main US stock benchmarks recorded daily returns ranging from -0.56% to +0.59%.

European stock indexes are mixed currently after ending down on Friday led by retail shares. Asian indexes are mostly higher today with Hong Kong’s Hang Seng index defying the regional trend while Chinese blue chips were buoyed by 10 basis point cut in key lending rates by China's central bank.

Brent is little changed currently. Prices advanced Friday despite oil services firm Baker Highs report US oil rigs rose 11 to 492 last week. West Texas Intermediate (WTI) futures rose 2.1% but is lower currently. Brent crude gained 1.9% to $86.06 a barrel on Friday, posting a 5.4% weekly gain.