Stocks mixed ahead of US inflation data - 26.4.2024

The Dollar strengthening has resumed today. 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 0.2% lower on Thursday as GDP data showed US economy grew 1.6 per cent in the first quarter, much slower than expected as consumer spending and exports decelerated.

EUR/USD joined GBP/USD’s accelerated advancing on Thursday as GfK reported German consumer sentiment recovery continued in April. Both euro and Pound are lower against the dollar currently. USD/JPY continued its advancing yesterday while AUD/USD accelerated its climbing with the yen lower against the Greenback currently and the Australian dollar higher still.

US stock index futures are higher currently with the yield on benchmark 10-year Treasury notes down at 4.698%. The three main stock benchmarks ended down on Thursday with daily returns in the range of -1% to -0.5% following weak US gross domestic product data.

European indexes futures are mixed today after stock indexes closed lower on Thursday with industrial shares leading losses. Asian stock indexes futures are mostly rising today with  Hong Kong’s Hang Seng  hitting a five-month high buoyed by gains in oil and gas giant CNOOC after the company reported stronger than expected quarterly earnings.

Brent is steady currently. Prices advanced on Thursday while data showed US gasoline stockpiles fell by less than forecast last week. West Texas Intermediate (WTI) futures ended flat and are steady currently. Brent futures added 0.2% to $88.22 a barrel on Thursday.