Todays’ Market Summary
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The Dollar weakening is intact
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Futures on three main US stock indexes are advancing
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Brent is extending losses currently ahead of data from the American Petroleum Institute later today.
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Gold prices are rising currently
Top daily news
Global stocks are mostly advancing currently after Wall Street fell Monday third session in a row. Tesla lost 3.5% losing all gains from 35% rally triggered by Hertz deal news despite CEO Elon Musk telling Tesla’s valuation is high but has a good reason for why it’s justified, Microsoft shares fell 1.2% Monday.
Forex news
| Currency Pair | Change |
|---|---|
| EUR USD | +0.34% |
| GBP USD | +0.75% |
| USD JPY | +0.05% |
| AUD USD | +0.06% |
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 0.2% on Monday despite Conference Board report its Leading Economic Index for the US Increased in November .
EUR/USD reversed its retreating Monday while GBP/USD continued sliding as the European Central Bank reported euro zone’s current account surplus grew in October as an expansion in services sector outweighed the contraction in goods trade. Pound is higher against the Dollar currently while euro is little changed. USD/JPY joined AUD/USD’s sliding yesterday with both yen lower against the Greenback currently and the Australian dollar higher.
Stock Market news
| Indices | Change |
|---|---|
| Dow Jones Index | +0.22% |
| Nikkei Index | +2.01% |
| Hang Seng Index | +0.71% |
| Australian Stock Index | +0.61% |
Futures on three main US stock indexes are advancing currently. Wall Street stocks closed solidly lower on Monday after US Senator Joe Manchin said on Sunday that he would not support president Biden’s $1.75 trillion Build Back Better domestic investment Bill, potentially blocking its passage. After senator’s comments, Goldman Sachs trimmed its quarterly US GDP forecasts for 2022. The three main stock index benchmarks booked daily losses in the range of 1.1% to 1.2% led by financials and materials shares.
European stock indexes are mixed currently after ending lower Monday against the background of possibility of tighter restrictions being imposed over the Christmas holidays and into the new year in a number of European countries. Asian indexes are advancing today with Nikkei index leading gains buoyed by reports Beijing urged large private and state-owned property companies to acquire real estate projects from troubled developers.
Commodity Market news
| Commodities | Change |
|---|---|
| Brent Crude Oil | -0.06% |
| WTI Crude | -0.12% |
Brent is extending losses currently ahead of data from the American Petroleum Institute later today. US West Texas Intermediate WTI sank 3.7% and is lower currently. Brent fell 2.7% to $71.52 a barrel on Monday.
Gold Market News
| Metals | Change |
|---|---|
| Gold | +0.13% |
Gold prices are rising currently . February gold slid 0.6% to $1794,60 an ounce on Monday.
https://www.ifcmarkets.com/en/market-overview/market-overview-21-12-2021