Markets mixed after Wall Street advance - 24.1.2025

The Dollar weakening is intact 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 GBP/USD and EUR/USD reversed their sliding yesterday while Eurostat reported euro area consumer confidence indicator edged up in January. Both euro and Pound are higher against the dollar currently. USD/JPY reversed its advancing while AUD/USD resumed its climbing on Thursday with both the yen and Australian dollar higher against the Greenback currently.

US stock index futures are lower currently with the yield on benchmark 10-year Treasury notes down at 4.629%. The three main stock benchmarks ended higher on Thursday with the three main US stock benchmarks recording daily gains in a range from 0.2% to 0.9% as president Trump said he would “demand that interest rates drop immediately” while renewed the threat of tariffs on companies that plan to import items and pledged to cut corporate taxes further in his remarks to the World Economic Forum in Davos.

European indexes futures are up today after stock indexes closed higher yesterday. Asian stock indexes futures are mostly rising today with Hong Kong’s Hang Seng leading gains while the Bank of Japan hiked rates as purchasing managers index data showed Japan's manufacturing sector shrank for a seventh consecutive month in January but growth in services picked up sharply.

Brent is advancing currently. Prices ended lower on Thursday after president Trump urged Saudi Arabia and OPEC to bring down its price during his address at the World Economic Forum. The Energy Information Administration (EIA) reported yesterday that US crude oil stockpiles slipped to their lowest level since March 2022 last week even as refining activity slowed. West Texas Intermediate (WTI) futures fell 1.1% but are higher currently. Brent futures lost 0.9% to $78.29 a barrel on Thursday.