Markets waiver ahead of Wall Street reopening - 24.11.2023

The Dollar weakening has halted 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 0.1% lower on Thursday.

Both EUR/USD and GBP/USD reversed their sliding on Thursday while SP Global reported business activity continued to decline in euro zone in November. Both euro and Pound are lower against the dollar currently. USD/JPY reversed its climbing yesterday and AUD/USD reversed its sliding with both the yen and the Australian dollar higher against the Greenback currently.

US stock indexes futures are mixed currently as the yield on benchmark 10-year Treasury notes edged up to 4.461%. The three main stock benchmarks ended mixed in a narrow range of - 0.4% to 0.5% on Wednesday as data showed US durable goods orders fell more than expected in October while the number of Americans who sought unemployment benefits over the last week was lower than the forecast as their number fell.

European stock indexes are lower currently after closing marginally higher on Thursday led by oil and gas shares. Asian stock indexes futures are mixed today with Hong Kong’s Hang Seng index leading losses dragged by a 11% slump in shares of luxury goods retailer Chow Tai Fook Jewellery Group Ltd.

Brent is edging lower currently. The international oil benchmark retreated about 1% yesterday after the Organization of the Petroleum Exporting Countries and allies including Russia delayed on Wednesday a ministerial meeting at which they were expected to discuss oil output cuts to November 30. There was no settlement for the US oil benchmark West Texas Intermediate (WTI) on Thursday as it was a US public holiday but it is lower currently. Brent futures tumbled 0.8% to $81.28 a barrel on Thursday.