Stocks venture up ahead of US nonfarm payroll data - 6.10.2023

The Dollar weakening continues 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, lost 0.3% on Thursday while the Department of Labor data showed the number of Americans who sought unemployment benefits over the last week was lower than the forecast while their number rose.

Both EUR/USD and GBP/USD continued their advancing on Thursday while Germany’s federal statistics office Destatis reported the trade surplus rose in August when a decline was expected. Both euro and Pound are higher against the dollar currently. USD/JPY reversed its advancing while AUD/USD accelerated its climbing yesterday with the yen lower against the Greenback currently and the Australian dollar little changed.

US stock indexes futures are mixed currently as the yield on benchmark 10-year Treasury notes edged up to 4.719%. The three main stock benchmarks ended lower on Thursday in the range of -0.12% to -0.03% as investors anticipate key employment data today.

European stock indexes are higher currently after closing up on Thursday led by travel stocks. Asian stock indexes futures are mostly higher today with Hong Kong’s Hang Seng leading gains while government data showed Japan's real wages in August declined for a 17th month.

Brent is retracing higher currently. Prices extended losses yesterday. The US oil benchmark West Texas Intermediate (WTI) fell 2.3% but is higher currently. Brent futures lost 2.03% to $84.07 a barrel on Thursday.