Markets rebound after third straight Wall Street loss - 21.12.2021

The Dollar weakening 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, lost 0.2% on Monday despite Conference Board report its Leading Economic Index for the US Increased in November .

EUR/USD reversed its retreating Monday while GBP/USD continued sliding as the European Central Bank reported euro zone’s current account surplus grew in October as an expansion in services sector outweighed the contraction in goods trade. Pound is higher against the Dollar currently while euro is little changed. USD/JPY joined AUD/USD’s sliding yesterday with both yen lower against the Greenback currently and the Australian dollar higher.

Futures on three main US stock indexes are advancing currently. Wall Street stocks closed solidly lower on Monday after US Senator Joe Manchin said on Sunday that he would not support president Biden's $1.75 trillion Build Back Better domestic investment Bill, potentially blocking its passage. After senator’s comments, Goldman Sachs trimmed its quarterly US GDP forecasts for 2022. The three main stock index benchmarks booked daily losses in the range of 1.1% to 1.2% led by financials and materials shares.

European stock indexes are mixed currently after ending lower Monday against the background of possibility of tighter restrictions being imposed over the Christmas holidays and into the new year in a number of European countries. Asian indexes are advancing today with Nikkei index leading gains buoyed by reports Beijing urged large private and state-owned property companies to acquire real estate projects from troubled developers.

Brent is extending losses currently ahead of data from the American Petroleum Institute later today. US West Texas Intermediate WTI sank 3.7% and is lower currently. Brent fell 2.7% to $71.52 a barrel on Monday.