Markets dip after US inflation surge - 13.1.2022

The Dollar retreating 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, lost 0.5% Wednesday despite Labor Department report consumer price index jumped by 7% over the past twelve months, its fastest pace in four decades.

Both EUR/USD and GBP/USD accelerated their climbing on Wednesday as Eurostat reported industrial production resumed growing in euro are in November. Euro is lower against the Dollar currently while Pound is higher still. USD/JPY reversed its climbing yesterday while AUD/USD accelerated its advancing with both the Australian dollar and yen higher against the Greenback currently.

The US stock index futures are down currently ahead of the US Labor Department report at 14:30 CET expected to show 199 thousand Americans sought unemployment benefits over the last week. The three main US stock indexes booked gains ranging from 0.1% to 0.28% Wednesday as longer-dated US Treasury yields dipped.

European stock indexes are down currently after ending higher Wednesday with basic resources leading gainers. Asian stock indexes are mostly falling today with Shanghai Composite leading losses after data showing mainland bank lending fell more than expected in December.

Brent is edging down currently. Prices gained Wednesday supported by the US Energy Information Administration report domestic crude stockpile fell by 4.6 million barrels last week. The US oil benchmark West Texas Intermediate (WTI) futures rose 1.8% but is lower currently. Brent crude gained 1.1% to $84.67 a barrel on Wednesday.