Global stocks mixed ahead of Fed meeting - 25.7.2023

The Dollar strengthening has reversed 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, rose 0.3% on Monday.

Both EUR/USD and GBP/USD accelerated their sliding on Monday while SP Global’s PMI data showed euro zone business output fell at the fastest rate for eight months in July. Both euro and Pound are higher against the dollar currently. USD/JPY reversed its climbing while AUD/USD reversed its retreating with the yen lower against the Greenback currently and Australian dollar higher still.

Futures on three main US stock indexes are mixed currently with the yield on benchmark 10-year Treasury notes up at 3.869%. US stocks rose on Monday, with three main stock benchmarks recording daily gains in the range from 0.2% to 0.5% while SP Global reported the rate of US business activity expansion eased to the slowest for five months in July as service providers registered a softer upturn in output and manufacturers reported broadly unchanged levels of production.

European stock indexes futures are mixed currently after closing mixed on Monday with oil and gas shares leading gains. Asian indexes futures are mixed today with Hong Kong’s Hang Seng index leading gains as property stocks rebounded after China's top leaders pledged on Monday to step up help for the economy.

Brent is edging lower currently. Prices ended sharply higher on Monday while analysts at Deutsche Bank said demand for oil in China "is now surpassing expectations." US West Texas Intermediate WTI rose 2.1% and is higher currently. Brent gained 2.1% to $82.74 a barrel on Monday.