Market uncertainty lingers on inflation concerns - 15.3.2024

Senior Analytical Expert

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Todays’ Market Summary

The Dollar strengthening is intact
US stock indexes futures are down currently
Brent is retracing down currently.
Gold is retracing up presently.

Top daily news

Global equity indexes futures are pointing in different directions currently ahead of University of Michigan Consumer Sentiment report at 15:00 CET today after Wall Street retreated on Thursday following hot producer prices report. Nvidia shares lost 3.24%, Microsoft shares rose 2.44% outperforming market on Thursday as the software giant announced the launch of its latest generative artificial-intelligence assistant Security Copilot.

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Forex news

Měnový pár	Změna
EUR/USD	-0.02%
GBP/USD	-0.1%
USD/JPY	+0.8%
AUD/USD	-0.8%

The Dollar strengthening is intact 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 0.5% higher on Thursday while Department of Labor data showed the number of Americans filing new claims for unemployment insurance fell last week when an increase was expected.

Both GBP/USD and EUR/USD reversed their advancing on Thursday. Both euro and Pound are lower against the dollar currently. USD/JPY accelerated its climbing yesterday while AUD/USD reversed its advancing with both the yen and the Australian dollar lower still against the Greenback currently.

Stock Market news

Indexy	Změna
Index DJI	+0.07%
Akciový index Japonska	+0.7%
Index Hongkongské akciové burzy	-1.5%
Index Australské Akciové burzy	-0.6%

US stock indexes futures are down currently as the yield on benchmark 10-year Treasury notes edged down to 4.285%. The three main stock benchmarks ended lower on Thursday in a narrow range of -0.35% to -0.29% as US producer price index (PPI) came in above analyst expectations, rising 0.6% in February.

European stock indexes are mixed currently after closing lower on Thursday with mining shares leading losses. Asian stock indexes futures are mixed today with Hong Kong’s Hang Seng leading losses while data showed new home prices in China continued declining in February.

Commodity Market news

Komodity	Změna
Ropa Brent	-0.1%
Ropa WTI	-0.1%

Brent is retracing down currently. Prices rose on Thursday to four-month highs after the International Energy Agency raised its 2024 oil demand growth estimate for a fourth time since November to 1.3 million barrels per day in 2024, up 110,000 bpd from last month. IEA also cut its 2024 supply forecast to 800,000 bpd rise to 102.9 million bpd this year. West Texas Intermediate (WTI) futures rose 1.9% but is lower currently. Brent futures ended up 1.7% at $85.42 a barrel on Thursday.