Investors cautious ahead of Wall Street reopening - 28.5.2024

The Dollar weakening 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, ended 0.1% lower on Monday.

Both EUR/USD and GBP/USD slowed their advancing on Monday while Ifo survey indicated business sentiment in Germany was stagnant for the month of May. Both Pound and euro are higher against the dollar currently. USD/JPY continued its sliding yesterday while AUD/USD accelerated its advancing with both the yen and Australian dollar higher against the Greenback currently still.

Futures on three main US stock indexes are up currently with the yield on benchmark 10-year Treasury down at 4.463% ahead of the Conference Board’s Consumer Confidence report at 16:00 CET today. US markets were closed on Monday after the three main stock benchmarks recorded daily gains in a range from 0.0% to 0.1% on Friday.

European stock indexes futures are mixed currently after indexes closed marginally higher on Monday with utilities stocks leading gains. Asian indexes futures are mixed today with Australia’s All Ordinaries ASX 200 Index leading losses as data showed retail sales in Australia grew less than expected in April.

Brent is edging higher currently. Oil prices ended higher yesterday while Goldman Sachs raised its global oil demand forecast for 2030. US West Texas Intermediate WTI ended 1.30% higher and is up currently. Brent rose 1.2% to $83.12 a barrel on Monday.