Markets rise ahead of ADP report - 30.8.2023

The Dollar strengthening has resumed 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, fell 0.6% on Tuesday.

Both GBP/USD and EUR/USD accelerated their climbing yesterday despite GfK report consumer sentiment in Germany suffered another setback in August. Both euro and Pound are lower against the dollar currently. USD/JPY reversed its climbing Tuesday while AUD/USD accelerated its advancing with both the yen and Australian dollar lower against the Greenback currently.

Futures on three main US stock indexes are lower currently as the yield on benchmark 10-year US notes has edged up to 4.139% currently. Stock indexes ended higher on Tuesday with three main stock benchmarks recording daily gains in the range from 0.9% to 1.7% as Labor Department announced that the number of job openings edged down to 8.8 million on the last business day of July - way below expectations while last month got revised lower.

European stock indexes are rising currently after a bullish session on Tuesday with mining shares leading gains. Asian indexes futures are mostly advancing today with Australia’s All Ordinaries ASX 200 Index leading gains after data showed that consumer inflation in Australia eased more than expected in July.

Brent is up currently. Oil prices rose over $1 on Tuesday before American Petroleum Institute report late Tuesday US crude stocks jumped by about 11.5 million barrels last week. The Energy Information Administration will release its US inventory data at 16:30 CET today. The US oil benchmark West Texas Intermediate (WTI) rose 1.3% and is higher today. Brent gained 1.3% to $85.49 a barrel.