Global equities rebound after dovish Powell comments - 29.7.2021

The Dollar weakening is intact currently ahead of the US Labor Department report at 14:30 CET expected to show 382 thousand Americans sought unemployment benefits over the last week, down from 419 thousand the previous week. 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, lost 0.2% Wednesday.

Both EUR/USD and GBP/USD continued their climbing on Wednesday while GfK reported no change in German consumer sentiment for July. Both pairs are higher currently. Both AUD/USD and USD/JPY reversed their sliding on Wednesday with both the Australian dollar and yen higher against the Greenback currently.

The US stock index futures are up currently ahead of US GDP advance report due at 14:30 CET today with the 10-year US Treasuries yields down at 1.234%. The three main US stock indexes booked returns Wednesday ranging from -0.36% to +0.7%.

European stock indexes are up currently after ending higher Wednesday with technology shares leading gains. Asian stock indexes are rising today with Hong Kong’s Hang Seng Index leading gains amid reports Chinese regulators had called banks overnight to ease market fears about tighter rules on the education sector.