Markets mixed amid further rate hike fears - 29.6.2023

The Dollar strengthening 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, added 0.5% Wednesday.

Both GBP/USD and EUR/USD reversed their retreating on Wednesday while GfK report showed German consumer confidence deteriorated in June. Both euro and Pound are lower against the Dollar currently. USD/JPY continued its advancing yesterday whileAUD/USD reversed its climbing with the yen lower against the Greenback currently and the Australian dollar higher.

The US stock index futures are up currently ahead of unemployment claims report at 14:30 CET today. The three main US stock indexes ended mixed on Wednesday in the narrow range from -0.22% to 0.27% as Federal Reserve chair Powell hinted that more interest rates are likely speaking at European Central Bank conference held in Sintra, Portugal.

European stock indexes futures are mixed currently after indexes closed higher yesterday with tech shares leading gains. Asian stock indexes futures are mostly lower today with Hong Kong’s Hang Seng Index leading losses while data showed that Japanese retail sales grew more than expected in May.

Brent is edging up presently. Prices ended higher yesterday after Energy Information Administration report US crude inventories plunged unexpectedly by 9.6 million barrels last week. The US oil benchmark West Texas Intermediate (WTI) futures surged 2.8% and is higher currently. Brent crude rose 2.5% to $74.03 a barrel on Wednesday.