Stocks trade mixed after Wall Street gains on strong data - 25.11.2021

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, gained 0.4% Wednesday as Bureau of Economic Analysis data showed the core personal consumption expenditures price index, the Federal Reserve's preferred inflation measure, accelerated last month.

EUR/USD joined GBP/USD’s continued sliding on Wednesday as Ifo institute reported Germany’s business climate index fell in November. Both pairs are higher currently. AUD/USD continued declining Wednesday while USD/JPY continued climbing joined with both the Australian dollar and yen higher against the Greenback currently.

The US stock index futures are rising currently after SP500, Nasdaq ended higher Wednesday despite Q3 GDP estimate downgrade and disappointing earnings reports from retailers Gap and Nordstrom. The three main US stock indexes booked returns ranging from -0.03% to +0.44%.

European stock indexes are mixed currently after ending marginally higher Wednesday led by telecoms shares. In Germany a new coalition government deal was announced and the country narrowly avoided another lockdown with the incoming coalition reportedly wanting to wait and see if tighter Covid passport rules help to alleviate rising cases there. Asian stock indexes are mixed today with Shanghai Composite leading losses.

Brent is down currently after reports United States will release 50 million barrels of crude oil from the US Strategic Petroleum Reserve, which will hit physical markets in December. Prices ended down Wednesday after the US Energy Information Administration report domestic crude stockpile rose unexpectedly by 1.017 million barrels last week while analysts expected a draw of 481,000 barrels. The US oil benchmark West Texas Intermediate (WTI) futures slid 0.14% and is lower currently. Brent crude slipped 0.07% to $82.25 a barrel on Wednesday.