Top daily news
Global stocks are trading mostly up currently after the vice chair for supervision of the Federal Reserve suggested stricter rules would “.. improve the resilience of the banking system.” Wall Street rebounded on Wednesday. Apple shares rose 1.98% outperforming the market after the iPhone maker launched its ‘buy now, pay later’ service in US the previous day, Alphabet’s shares added 0.36% on Wednesday.
Forex news
The Dollar strengthening has halted 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% Wednesday as pending home sales grew in February for the third consecutive month.
EUR/USD halted its advancing while GBP/USD reversed its climbing on Wednesday as GfK reported German consumer sentiment improvement momentum in March has noticeably weakened compared to previous months. Euro and Pound are higher against the Dollar currently. USD/JPY reversed its retreating and AUD/USD reversed its climbing yesterday with both the yen and the Australian dollar higher against the Greenback currently.
Stock Market news
The US stock index futures are higher currently ahead of Department of Labor report on unemployment claims scheduled for 14:30 CET today. The three main US stock indexes ended solidly higher on Wednesday recording daily gains in a range from 1.0% to 1.79% led by semiconductor firms following a forecast from Micron that pointed to improving demand in the second half of the year.
European stock indexes futures are higher currently ahead of German, Spanish and Italian inflation data due later today. Indexes closed higher yesterday with tech stocks leading gains. Asian stock indexes futures are mostly higher today with Hong Kong’s Hang Seng Index defying the regional trend.
Commodity Market news
Brent is edging up presently. Prices ended lower yesterday despite Energy Information Administration report US crude inventories fell unexpectedly by 6.076 million barrels in the last week. Meanwhile the Russian oil production fell by around 300,000 barrels per day in the first three weeks of March, less than the targeted cuts of 500,000 bpd. The US oil benchmark West Texas Intermediate (WTI) futures slid 0.3% but is higher currently. Brent crude lost 0.5% to $78.28 a barrel on Wednesday.
Gold Market News
Gold prices are edging higher today. Spot gold lost 0.52% to $1962.97 an ounce on Wednesday.