Markets mixed ahead of US Institute for Supply Management data - 1.8.2023

The Dollar strengthening is intact 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 revered its advancing on Monday while Eurostat’s data showed euro zone inflation continued to ease in July. Both euro and Pound are lower against the dollar currently. USD/JPY slowed its climbing while AUD/USD reversed its retreating with both the yen and Australian dollar lower against the Greenback currently.

Futures on three main US stock indexes are mixed currently with the yield on benchmark 10-year Treasury notes up at 3.965%. US stocks notched back to back gains on Monday, with three main stock benchmarks recording daily gains in the range from 0.15% to 0.28% while Chicago PMI data showed Chicago area private sector business activity contraction slowed in July.

European stock indexes futures are mixed currently after closing up on Monday with oil and gas shares leading gains. Asian indexes futures are mixed today with Hong Kong’s Hang Seng index leading losses as property stocks reversed earlier gains while the Reserve Bank of Australia kept rates unchanged.

Brent is edging lower currently. Prices extended gains on Monday hitting their highest values since late April for a third consecutive session. US West Texas Intermediate WTI rose 0.7% and is higher currently. Brent gained 1.2% to $85.43 a barrel on Monday.