Markets track Wall Street rebound - 15.2.2024

The Dollar weakening 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, slipped 0.1% Wednesday.

EUR/USD reversed its retreating yesterday while GBP/USD continued its sliding as the Office for National Statistics reported the UK Consumer Prices Index grew at steady rate of 4% over year in January when an uptick to 4.1% increase was expected. The euro is higher against the dollar currently and Pound lower still. USD/JPY reversed its climbing while AUD/USD reversed its sliding yesterday with both the yen and the Australian dollar higer against the Greenback currently.

The US stock index futures are higher currently ahead of Department of Labor unemployment claims report at 14:30 CET today. The three main US stock indexes resumed advancing on Wednesday in the range from 0.4% to 1.3% led by technology shares.

European stock indexes futures are higher currently after indexes closed up yesterday with techs shares leading gains. Asian stock indexes futures are mostly higher today with Australia’s S&P/ASX 200 All Ordinaries index leading gains while GDP data showed Japan entered a technical recession after logging two straight quarters of GDP declines.

Brent is extending losses presently. The US Energy Information Administration (EIA) reported US crude stockpiles rose by above expected 12 million barrels to 439.5 million barrels last week. The US oil benchmark West Texas Intermediate (WTI) futures fell 1.6% and is lower currently. Brent crude lost 1.4% to $81.6 a barrel on Wednesday.