Stocks track Wall Street advance - 20.12.2023

The Dollar weakening has reversed 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 0.3% on Tuesday.

GBP/USD joined EUR/USD’s accelerated climbing yesterday while CBI Industrial Trends Survey data showed UK manufacturing output stabilized but orders remain subdued. Euro and Pound are lower against the dollar currently. Both USD/JPY and AUD/USD accelerated their advancing on Tuesday with both the yen and Australian dollar higher against the Greenback currently.

Futures on three main US stock indexes are up currently as the yield on benchmark 10-year US notes edged down to 3.911% currently. Stock indexes ended higher on Tuesday with three main stock benchmarks recording daily gains in a narrow range from 0.6% to 0.7% as data showed new single-family housing starts surged 18 per cent to more than a one-and-a-half-year high in November.

European stock indexes are higher currently after closing up on Tuesday led by travel and leisure shares. Asian indexes futures are rising mostly today with Australia’s All Ordinaries ASX 200 Index leading gains buoyed by mining and bank stocks.

Brent is extending gains currently. Brent ended up over 1% on Tuesday ahead of American Petroleum Institute report later in the day US crude inventories rose last week. The Energy Information Administration (EIA) will release its US inventory data at 16:30 CET today. The US oil benchmark West Texas Intermediate (WTI) added 1.3% and is higher today. Brent rose 1.6% to $79.23 a barrel on Tuesday.