Stocks mixed ahead of Fed minutes release - 21.11.2023

The Dollar weakening persists 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, ended 0.2% lower on Monday.

Both GBP/USD and EUR/USD continued their climbing on Monday despite federal statistics office Destatis report German producer prices continued declining in October. Both Pound and euro are higher against the dollar currently. USD/JPY accelerated its sliding while AUD/USD accelerated its advancing yesterday with both the yen and Australian dollar higher against the Greenback currently.

Futures on three main US stock indexes are mixed currently with the yield on benchmark 10-year Treasury down at 4.439%. US markets closed higher on Monday with the three main stock benchmarks recording daily gains in the range from 0.6% to 1.1% led by technology shares.

European stock indexes futures are mixed currently after closing marginally up on Monday led by oil and gas shares. Asian indexes futures are mixed today with Hong Kong’s Hang Seng index leading losses while Chinese property stocks rebounded led by gains in Longfor Properties and Country Garden Services amid reports Chinese government was planning on rolling out more supportive measures for the sector.

Brent is retracing lower currently. Prices ended over 2% higher on Monday amid speculation the Organization of the Petroleum Exporting Countries and allies including Russia, may make additional supply cuts when they meet on November 26. US West Texas Intermediate WTI added 2.3% but is lower currently. Brent gained 2.1% to $82.52 a barrel on Monday.