Stocks advance ahead of US inflation data - 10.6.2021

The Dollar strengthening is intact currently ahead of the US Labor Department report at 14:30 CET expected to show 370 thousand Americans sought unemployment benefits over the last week, down from 385 thousand the previous week. 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 0.01% Wednesday as Census Bureau reported US wholesale inventories rose at steady 0.8% over month rate in April.

EUR/USD reversed its sliding while GBP/USD’s continued its retreating on Wednesday as federal statistics office Destatis reported German trade surplus rose again in April. USD/JPY continued its climb Wednesday while AUD/USD continued sliding with both yen and Australian dollar higher against the Greenback currently.

The US stock futures are up currently with the 10-year US Treasuries yield at 1.479% after falling below 1.5% Wednesday ahead of Bureau of Labor Statistics US consumer inflation report today at 14:30 CET. The three main US stock indexes booked losses ranging from 0.1% to 0.4% Wednesday.

European stock indexes are mixed currently after ending in opposite directions Wednesday with health care shares leading gainers. European Central Bank will release its policy statement at 13:45 CET today, it is widely expected the bank will not change its current ultra-easy policy. Asian stock indexes are mostly rising today with Shanghai Composite leading gains amid reports Beijing and Washington officials spoke by telephone and agreed to promote healthy trade and cooperate over differences.