Equities moves muted despite China GDP beat - 18.4.2023

The Dollar strengthening has stalled 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 0.8% on Monday.

Both GBP/USD and EUR/USD continued their sliding on Monday. Both Pound and euro are higher against the dollar currently. USD/JPY slowed its advancing yesterday while AUD/USD slowed its retreating with both the yen and Australian dollar higher against the Greenback currently.

Futures on three main US stock indexes are up currently with the yield on benchmark 10-year Treasury notes up at 3.593%. US stocks closed higher on Monday, with three main stock benchmarks recording daily gains in the range from 0.28% to 0.33% after the gauge of manufacturing activity in New York State increased for the first time in five months in April, supporting bets the US central bank will raise rates at its meeting next month.

European stock indexes futures are mixed currently after closing mixed on Monday with financial services shares leading losses. Asian indexes futures are mixed today with Australia’s All Ordinaries ASX 200 Index futures leading losses despite data showing China's economy grew above expected 4.5% year on year in the first quarter.

Brent is gaining currently. Prices ended lower on Monday amid reports the federal government in Iraq and the Kurdistan Regional Government (KRG) have agreed on issues essential to resuming 450,000 barrels per day northern oil exports from the Turkish port of Ceyhan. US West Texas Intermediate WTI edged down 2.1% but is higher currently. Brent lost 1.8% to $84.76 a barrel on Monday.