Todays’ Market Summary
-
The Dollar weakening is intact currently.
-
Futures on US equity benchmarks are mixed
-
Brent is extending losses currently amid reports that President Biden’s administration might release oil from the US Strategic Petroleum Reserve to cool prices.
-
Gold prices are edging down
Top daily news
Global stocks are moving in different directions currently after Wall Street advance Friday despite surprise deterioration in consumer sentiment as evidenced by University of Michigan report. Tesla shares dropped 2.81% Friday underperforming market as Elon Musk sold another block of company shares worth about $700 million, Microsoft shares gained 1.29% as Kyndryl, the recent IBM spin-off of its managed infrastructure services, declared Microsoft its only “premier global alliance partner” to bring to market new Microsoft Cloud solutions.
Forex news
| Currency Pair | Change |
|---|---|
| EUR USD | +0.04% |
| GBP USD | +0.4% |
| USD JPY | -0.02% |
| AUD USD | -0.08% |
The Dollar weakening is intact 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, lost 0.08% on Friday after University of Michigan report showing Consumer Sentiment index fell to 66.8 for November from 71.7 in October when an increase to 72.5 was forecast.
GBP/USD reversed its sliding Friday while EUR/USD continued retreating despite the euro area statistics office Eurostat report euro zone’s industrial production decline slowed more than forecast in September. Both euro and Pound are higher against the Dollar currently. USD/JPY reversed its advancing while AUD/USD reversed its sliding Friday with both the Australian dollar lower against the Greenback currently and yen higher.
Stock Market news
| Indices | Change |
|---|---|
| Dow Jones Index | -0.13% |
| Nikkei Index | +0.22% |
| Hang Seng Index | -0.18% |
| Australian Stock Index | +0.03% |
Futures on US equity benchmarks are mixed ahead of Empire State Manufacturing Index report at 14:30 CET today. The Wall Street closed solidly higher Friday following unexpectedly weak University of Michigan preliminary report US consumer sentiment fell to a 10-year low amid concerns about growing inflation: the three main US stock benchmarks recorded daily gains ranging from 0.5% to 0.8%.
European stock indexes are mixed currently after ending marginally higher on Friday led by consumer goods shares. Asian indexes are mixed today with NIKKEI leading gains despite data showing Japan’s Gross Domestic Product shrank by more than expected in the third quarter.
Commodity Market news
| Commodities | Change |
|---|---|
| Brent Crude Oil | -0.41% |
| WTI Crude | -0.37% |
Brent is extending losses currently amid reports that President Biden’s administration might release oil from the US Strategic Petroleum Reserve to cool prices. Prices retreated on Friday. The decline was cushioned somewhat by Russia’s Rosneft warning on Friday of a potential “super cycle” in global energy markets which could lead to even higher prices as demand outstrips supply. West Texas Intermediate (WTI) futures lost 1% and is lower currently. Brent crude slid 0.8% to $82.17 a barrel on Friday.
Gold Market News
| Metals | Change |
|---|---|
| Gold | -0.34% |
Gold prices are edging down today. December gold advanced 0.3% settling at $1868.50 an ounce on Friday – logging the highest finish since May and a 2.9% gain for the week.
https://www.ifcmarkets.com/en/market-overview/market-overview-15-11-2021