Stocks mixed in thin trading - 26.12.2023

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, ended 0.1% lower on Friday.

Both EUR/USD and GBP/USD slowed their advancing on Friday while the federal statistics office Destatis data showed German import prices declines in November at 0.1% over month was less than expected. Both Pound and euro are higher against the dollar currently. USD/JPY reversed its sliding on Friday while AUD/USD slowed its advancing with both the yen and Australian dollar higher against the Greenback currently.

Futures on three main US stock indexes are up currently with the yield on benchmark 10-year Treasury down at 3.889%. US markets closed mixed on Friday with the three main stock benchmarks recording daily returns in the range from -0.05% to 0.19% while the Bureau of Economic Analysis reported softer than expected readings on the PCE price index - the Fed’s preferred inflation gauge.

European stock indexes futures are mixed currently after closing marginally higher on Monday led by oil and gas shares. Asian indexes futures are mixed today with Chinese stocks leading losses while Bank of Japan Governor Kazuo Ueda marked progress towards the bank’s 2% annual inflation target.

Brent is edging up currently amid geopolitical tensions in the Middle East. Prices declined on Friday while tankers reroute amid attacks on vessels in the Red sea carried out by the Iranian-backed Houthi militant group. The attacks have caused disruptions through the Suez Canal, which handles about 12% of world trade. US West Texas Intermediate WTI fell 0.5% but is higher currently. Brent lost 0.4% to $79.07 a barrel on Monday.