Markets mixed after Wall Street rebound - 11.12.2023

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, gained 0.3 % on Friday while University of Michigan preliminary report showed US consumer sentiment improved much more than expected in December.

Both EUR/USD and GBP/USD reversed their advancing on Friday as federal statistics office Destatis final report confirmed German inflation at twenty-nine month low in November. Both euro and Pound are higher against the Dollar currently. USD/JPY reversed its sliding on Friday while AUD/USD reversed its advancing with both the yen and the Australian dollar lower against the Greenback currently.

US stocks indexes futures are down currently after closing up on Friday following stronger than expected November payrolls report. The three main US stock benchmarks recorded daily gains in the narrow range from 0.4% to 0.45% on Friday as unemployment rate slipped to 3.7% while average earnings gain edged up to 0.4% on a monthly basis compared with forecasts of 0.3% growth.

European stock indexes futures are mixed currently after closing higher on Friday led by travel and leisure shares. Asian stock indexes futures are mostly down today with Japan's Nikkei defying the regional trend while Chinese stocks were under pressure in light of data released over the weekend showing that Chinese consumer inflation fell at its fastest pace in three years in November.

Brent is extending gains currently after the US Department of Energy announced on Friday it wants to buy up to 3 million barrels of crude oil for the Strategic Petroleum Reserve (SPR) for delivery in March 2024. Oil prices continued their advancing on Friday after Saudi Arabia and Russia, the world's two biggest oil exporters, on Thursday called for all OPEC+ members to join an agreement on output cuts reached last week to remove around 2.2 million barrels per day (bpd) of oil from the global market in the first quarter of 2024. The US oil benchmark West Texas Intermediate (WTI) rose 2.7% and is higher currently. Brent gained 2.4% to $75.84 a barrel on Friday. For the week, both benchmarks recorded 3.8% loss.