Global stocks advance ahead of Fed meeting - 13.12.2022

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, added 0.1% on Monday while a survey by the Federal Reserve Bank of New York indicated that inflation expectations are coming down.

EUR/USD reversed its sliding on Monday while GBP/USD slowed its climbing as the Office for National Statistics data showed the UK economy grew by above expected 0.5% over month in October, after 0.6% contraction in September. Both pairs are up currently. USD/JPY reversed its retreating yesterday while AUD/USD reversed its climbing with the yen lower against the Greenback currently and the Australian dollar higher.

Futures on three main US stock indexes are up currently ahead of inflation report at 14:30 CET today with the yield on benchmark 10-year Treasury notes down at 3.606%. The three main benchmark indexes ended higher on Monday recording daily gains ranging from 1.3% to 1.6% as Treasury Secretary Yellen said overnight that while recession is a risk, it is not something that is necessary to bring inflation.

European stock indexes futures are down currently after closing lower Monday as mining shares led losses. Asian indexes futures are mostly rising today with Hong Kong’s Hang Seng index leading gains as Hong Kong eased COVID-19 restrictions for inbound travelers..

Brent is extending gains currently. Prices rose yesterday on supply concerns as the Keystone pipeline supplying the United States remained closed. US West Texas Intermediate WTI jumped 3% and is higher currently. Brent rose 2.5% to $77.99 a barrel on Monday.