Global stocks mixed after Wall Street pullback following midterm elections - 10.11.2022

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% Wednesday.

Both GBP/USD and EUR/USD reversed their climbing on Wednesday. Euro and Pound are higher against the Dollar currently. USD/JPY reversed its retreating while AUD/USD reversed its climbing yesterday with the Australian dollar lower against the Greenback currently and the yen higher.

The US stock index futures are up currently ahead of US October inflation data and Bureau of Labor Statistics report on unemployment claims due at 14:30 CET today. The three main US stock indexes booked losses ranging from 1.95% to 2.48% Wednesday ending a three-day rally with the election outcome still uncertain.

European stock indexes futures are retreating currently after closing down yesterday led by travel and leisure shares. Asian stock indexes futures are mostly falling today with Australia’s S&P/ASX 200 All Ordinaries index defying the general trend while the southern metropolis of Guangzhou in China reported thousands of COVID cases.

Brent is extending losses currently. Prices retreated yesterday after the Energy Information Administration report showing US domestic crude oil inventories rose by bigger than forecast 3.9 million barrels last week. At the same time domestic US oil production increased to about 12.1 million barrels a day. The US oil benchmark West Texas Intermediate (WTI) futures dropped 3.08% and is lower currently. Brent crude fell 2.7% to $92.65 a barrel on Wednesday.