Markets drop ahead of Wall Street reopening - 26.11.2021

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 0.1% Thursday.

GBP/USD continued retreating yesterday while EUR/USD reversed its sliding despite Germany’s Q3 GDP downgrade. Euro is higher against the Dollar currently while Pound is lower still. USD/JPY joined AUD/USD’s continued sliding yesterday with the Australian dollar sharply lower against Greenback currently and yen higher.

Futures on three main US stock indexes are down currently with US 10-year Treasury note yields down at 1.562%. US stock market was closed Thursday for Thanksgiving holiday. The three main US stock benchmarks ended mixed Wednesday after data showing jobless claims totaled 199,000 for the last week, down from 270,000 a week ago and below expectations. Indexes recorded daily returns in the range of -0.03% to +0.44%.

European stock indexes are lower currently after closing up Thursday led by utilities shares. Asian indexes are sharply down today led by Hong Kong’s Hang Seng dragged by casino and beverage shares after the detection of a new and possibly vaccine-resistant coronavirus in Hong Kong.

Brent is extending losses. Prices ended lower in thin trading yesterday amid reports OPEC expected the US release of 50 million barrels of crude from its reserves would swell a surplus in oil markets by 1.1 million barrels per day. The US oil benchmark West Texas Intermediate (WTI) ended down 0.5% and is lower currently. Brent crude slipped 0.1% to $82.17 a barrel on Thursday.