Markets up ahead of US CPI data - 12.3.2024

The Dollar is steady 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, ended 0.1% higher on Monday.

GBP/USD joined EUR/USD’s continued sliding on Monday. Both Pound and euro are higher against the dollar currently. AUD/USD joined USD/JPY’s slowed retreating yesterday with the yen lower against the Greenback currently and Australian dollar higher.

Futures on three main US stock indexes are higher currently ahead with the yield on benchmark 10-year Treasury down at 4.092%. US markets closed mixed on Monday with the three main stock benchmarks recording daily returns in the range from -0.4% to 0.1% ahead of February inflation report today which is expected to have significant impact on the likely timing of the first Fed rate cut this year.

European stock indexes futures are up currently after closing lower on Monday led by tech shares. Asian indexes futures are mostly higher today with Hong Kong’s Hang Seng index leading gains while Japanese data showed producer price index inflation was slightly higher than expected.

Brent is extending gains currently. Oil prices ended mixed yesterday. US West Texas Intermediate WTI slipped 0.1% but is higher currently. Brent added 0.15% to $82.21 a barrel on Monday.