Stocks mixed ahead of US consumer inflation report - 10.10.2024

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, rose 0.5% on Wednesday.

Both GBP/USD and EUR/USD resumed their sliding yesterday while federal statistics office Destatis data showed German foreign trade surplus rose more than forecast in August. Both Pound and euro are higher against the dollar currently. USD/JPY accelerated its advancing while AUD/USD accelerated its sliding on Wednesday with both the yen and the Australian dollar higher against the Greenback currently.

The US stock index futures are mixed currently ahead of inflation data and unemployment claims report due at 16:30 CET today. US stocks closed higher on Wednesday with the three main US stock benchmarks recording daily gains in a range from 0.6% to 1.0% after the Federal Reserve minutes showed a “substantial majority” of central bank officials supported an outsized half-percentage point rate cut.

European stock indexes futures are retreating currently after closing up on Wednesday as tech shares led gains. Asian stock indexes futures are mixed today with Hong Kong’s Hang Seng Index leading gains as the People’s Bank of China provided 500 billion yuan ($70.69 billion) in liquidity support for capital markets.

Brent is retracing higher presently. Prices ended lower yesterday after the Energy Information Administration report of above-expected buikd in US crude oil inventory of 5.8 million barrels last week while gasoline and distillate inventories fell. The US oil benchmark West Texas Intermediate (WTI) futures slid 0.5% but are higher currently. Brent crude slipped 0.8% to $76.58 a barrel on Wednesday.