Markets waiver after Fed minutes release - 17.8.2023

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 0.3% Wednesday.

EUR/USD renewed its retreating on Wednesday while GBP/USD accelerated its climbing after Office for National Statistics data showed UK inflation slowed to above expected 6.8% in July. Both Pound and euro are little changed against the dollar currently. USD/JPY accelerated its advancing yesterday while AUD/USD continued its sliding with the yen flat against the Greenback currently and the Australian dollar lower still.

The US stock index futures are higher currently ahead of US i unemployment benefits report at 14:30 CET today. The three main US stock indexes ended solidly lower on Wednesday in the range from -1.15% to -0.52% after minutes from the Fed's July meeting showed policymakers deemed US economy faced significant risks that price increases would persist.

European stock indexes futures are falling currently after indexes closed marginally lower yesterday led by media stocks. Asian stock indexes futures are mixed today with Japan’s Nikkei index leading gains while Hong Kong’s Hang Seng Index paired earlier losses despite deepening property sector crisis in China as Zhongzhi Enterprise Group told investors it is facing a liquidity crisis and will conduct a debt restructuring.

Brent is retracing up presently. Prices ended lower yesterday despite a draw in US fuel stockpiles. Energy Information Administration reported US crude inventories fell by 6 million barrels last week while gasoline supplied - considered a measure of demand - fell by 451,000 barrels per day. The US oil benchmark West Texas Intermediate (WTI) futures fell 2% but is higher currently. Brent crude lost 1.7% to $83.45 a barrel on Wednesday.