Stocks rebound ahead of US consumption expenditure data - 28.4.2023

The Dollar strengthening continues 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, added 0.1% Thursday despite report showing US economic growth slowed more than expected in the first quarter.

EUR/USD reversed its climbing and GBP/USD slowed its advancing Thursday. Both euro and Pound are lower against the Dollar currently. Both USD/JPY and AUD/USD reversed their sliding yesterday with both the yen and the Australian dollar lower against the Greenback currently despite data showing inflation in Tokyo, Japan's capital, rose more than expected in April.

US stock indexes futures are down currently ahead of the US Personal Consumption Expenditures report for March at 14:30 CET today as the yield on benchmark 10-year Treasury notes ticked down to 3.526%. The three main stock benchmarks recorded solid gains Thursday in the range of 1.6% to 2.4% led by tech stocks as shares of regional banks bounced and Facebook parent Meta reported strong first quarter results.

European stock indexes are up currently after closing little changed on Thursday with banks shares edging higher. Asian stock indexes futures are mostly rising today with Japan's Nikkei leading gains after the Bank of Japan held interest rates at record lows and said it will continue with its quantitative easing and yield curve control measures.

Brent is extending gains today. Prices rebounded yesterday after Russian Deputy Prime Minister Alexander Novak said global oil markets were balanced and OPEC+ does not see the need for further oil output cuts. The US oil benchmark West Texas Intermediate (WTI) added 0.6% and is higher currently. Brent crude lost 0.87% to $78.37 a barrel on Thursday.