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Markets bounce ahead of Powell’s Jackson Hole speech - 23.8.2024
Todays’ Market Summary
- The Dollar strengthening has reversed
- US stock index futures are higher
- Gold is retracing up presently.
Top daily news
Global equity indexes futures are trading mostly up currently ahead of Powell’s speech at the Jackson Hole Symposium due at 18:00 CET today after Wall Street dipped on Thursday. Microsoft shares lost 2.0% underperforming market despite Citi reiterating its Buy rating and a price target of $500.00 for the IT giant’s share, Apple shares fell 2.21% on Thursday .
Forex news
The Dollar strengthening has reversed today. 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 0.3% higher on Thursday.
EUR/USD reversed is climbing yesterday while GBP/USD ended flat despite the S&P Global report the euro zone business activity rose in August. Both euro and Pound are higher against the dollar currently. USD/JPY advanced on Thursday while AUD/USD retreated with both the yen and Australian dollar higher against the Greenback currently.
Stock Market news
US stock index futures are higher currently with the yield on benchmark 10-year Treasury notes down at 3.846%. The three main stock benchmarks retreated on Thursday recording daily losses in a range from -1.7% to -0.4%.
European indexes futures are rising today after stock indexes closed higher on Thursday while retail shares led gainers. Asian stock indexes futures are mostly rising today with Hong Kong’s Hang Seng leading gains recovering from earlier losses in major Chinese internet stocks.
Commodity Market news
| Brent Crude Oil | --- | --- | --- |
| Cotton | --- | --- | --- |
Brent is extending gains currently. Prices ended $1 higher on Thursday after four days of price declines. West Texas Intermediate (WTI) futures rose 1.5% and are higher currently. Brent futures gained 1.54% to $77.22 a barrel on Thursday.
Gold Market News
| Gold USD | --- | --- | --- |
Gold is retracing up presently. Spot gold extended losses on Thursday: it fell 1.1% to $2484.72 an ounce.
Crypto
| Bitcoin | --- | --- | --- |
| Ethereum - Dollar USA | --- | --- | --- |
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