Stock markets pause after Wall Street rally - 6.4.2021

The Dollar strengthening has resumed 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, fell 0.4% Monday despite ISM report showing a measure of US services industry activity jumped to a record high for March.

Both EUR/USD and GBP/USD reversed their sliding Monday but are lower currently. AUD/USD reversed its retreating while USD/JPY reversed its climbing yesterday with both Australian dollar and yen lower against the greenback currently.

Futures on three main US stock indexes are down currently while US 10-year Treasury yields ticked down to 1.69%. The three US main stock benchmarks ended solidly higher Monday with Dow and SP 500 closing at record levels buoyed by stronger than expected ISM services report. The three US main stock benchmarks recorded gains ranging from 1.1% to 1.7%.

European stock indexes are higher currently catching up after markets reopened following Easter holidays. Asian indexes are mostly lower today while Australia’s All Ordinaries ASX 200 Index defies the prevailing downcast sentiment as Hong Kong’s stock market remains closed for holidays.