Markets mixed ahead of October nonfarm payrolls report - 1.11.2024

The Dollar strengthening has resumed 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 0.2% lower on Thursday.

EUR/USD slowed its climbing and GBP/USD continued its retreating yesterday while the European Central Bank reported euro zone inflation rose to 2% in October, higher than the 1.9% expected by analysts. Both Pound and euro are lower against the dollar currently. USD/JPY retreated on Thursday while AUD/USD slowed its advancing with both the yen and Australian dollar lower against the Greenback currently.

US stock index futures are up currently ahead of jobs market with the yield on benchmark 10-year Treasury notes down at 4.279%. The three main stock benchmarks ended sharply lower on Thursday recording daily losses in a range from -2.8% to -0.9% with tech shares leading losses as Microsoft and Meta fell after reporting better than expected quarterly results but forecast rising spending on AI infrastructure.

European indexes futures are mixed today after stock indexes closed lower on Thursday  with all sectors in the red. Asian stock indexes futures are mixed today with Hong Kong’s Hang Seng leading gains after Caixin survey indicated China’s manufacturing activity unexpectedly picked up in October.

Brent is extending gains currently on reports Iran is preparing strike on Israel. Prices ended higher on Thursday. West Texas Intermediate (WTI) futures rose 0.95% and are higher currently. Brent futures added 0.84% to $73.16 a barrel on Thursday.