Equities down after Wall Street rebound - 26.9.2023

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 GBP/USD and EUR/USD continued their sliding on Monday while the Ifo reported sentiment in the German economy declined slightly in September. Both euro and Pound are lower against the dollar currently. USD/JPY slowed its climbing yesterday while AUD/USD reversed its advancing with both the yen and Australian dollar lower against the Greenback currently.

Futures on three main US stock indexes are down currently with the yield on benchmark 10-year Treasury notes down at 4.548%. US markets closed moderatly higher on Monday with the three main stock benchmarks recording daily gains in the range from 0.1% to 0.45% as Minneapolis Fed President Neel Kashkari said that he saw one more rate hike this year.

European stock indexes futures are mixed currently after closing lower on Monday with travel and leisure shares leading losses as Germany’s 10-year bond yield hit its highest level since July 2011 at 2.783%. Asian indexes futures are mixed today with Japan’s Nikkei leading losses while Chinese real estate stocks remained under pressure as China Evergrande Group sank 5%.

Brent is falling currently. Prices ended little changed on Monday as Russia approved changes to its fuel export ban, lifting restrictions for fuel used for some vessels and diesel with high sulphur content. The export ban on all types of gasoline and high-quality diesel remained in place. US West Texas Intermediate WTI slid 0.4% and is lower currently. Brent added 2 cents to $93.29 a barrel on Monday.