Markets mixed after US stocks rebounded - 28.3.2024

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, added 0.2% on Wednesday.

Both GBP/USD and EUR/USD accelerated their sliding yesterday while Eurostat reported economic sentiment in the European Union was slightly higher in March. Both euro and Pound are lower against the dollar currently. USD/JPY reversed its advancing while AUD/USD accelerated its retreating on Wednesday with both the yen and the Australian dollar lower against the Greenback currently.

The US stock index futures are lower currently ahead of US Unemployment Claims report due at 13:30 CET today. The three main US stock indexes ended higher on Wednesday in the range from 0.5% to 1.2% with the SP 500 closing at a fresh record before Fed Board Governor Christopher Waller said later in the day there is no rush to ease interest rates.

European stock indexes futures are mixed currently after indexes closed marginally higher yesterday with retail shares leading gains. Asian stock indexes futures are mixed today with Hong Kong’s Hang Seng Index leading gains as the yuan was buoyed by a strong fix by the People's Bank of China.

Brent is edging higher presently. Prices ended lower for the second consecutive session yesterday after the US Energy Information Administration (EIA) report US crude stockpiles rose unexpectedly by 3.2 million barrels last week while gasoline demand fell for a second straight week to 8.7 million barrels per day (bpd), down from 8.8 million bpd in the prior week. The US oil benchmark West Texas Intermediate (WTI) futures lost 0.3% but is higher currently. Brent crude fell 0.25% to $85.41 a barrel on Wednesday.