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Global markets down ahead of Fed meeting - 15.12.2020
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Todays’ Market Summary
- The Dollar weakening is intact currently
- Futures on three main US stock indexes are up currently
- Brent is pulling back today ahead of data from the American Petroleum Institute later today expected to show that US gasoline inventories rose by 1.6 million barrels last week.
- Gold prices are rebounding today
Top daily news
Equities markets are retreating currently ahead of the Federal Reserve’s two-day policy meeting today. Netflix climbed almost 4% Monday outperforming market after BMO Capital Markets said Netflix was again its "top pick", and Walt Disney fell 3.65% as it was downgraded by the BMO while the Electoral College reaffirmed Joe Biden as President-Elect.
Forex news
| Currency Pair | Change |
| EUR USD | +0.08% |
| GBP USD | +0.08% |
| USD JPY | +0.04% |
| AUD USD | -0.1% |
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, lost 0.27% Monday. Both GBP/USD and EUR/USD reversed their sliding Monday as euro-zone’s industrial production increased by 2.1% over month after 0.1% growth in September, when an increase of 1.8% was forecast. Both Euro and Pound are higher currently against the Dollar. AUD/USD joinedUSD/JPY’s continued sliding yesterday with both yen and Australian dollar lower against the Greenback currently.
Stock Market news
| Indices | Change |
| Dow Jones Index | +0.06% |
| GB 100 Index | -0.41% |
| Nikkei Index | -0.06% |
| Hang Seng Index | -0.71% |
Futures on three main US stock indexes are up currently as investors expect the Fed will further ease monetary policy by expanding its bond buying program. The three US main stock benchmarks closed mixed Monday with Dow and SP500 pulling back, daily returns ranging from -0.6% to +0.5%.
European stock indexes are edging lower currently after a bullish session yesterday with bank shares leading the gains. Asian indexes are mostly lower today with Hong Kong’s Heng Seng Index leading losses despite report China’s industrial output grew in line with expectations in November, expanding for an eighth straight month.
Commodity Market news
| Commodities | Change |
| Brent Crude Oil | -0.77% |
| WTI Crude | -0.69% |
Brent is pulling back today ahead of data from the American Petroleum Institute later today expected to show that US gasoline inventories rose by 1.6 million barrels last week. Oil prices rose Monday with the gains capped by OPEC’s downgrade of global oil demand rebound in 2021 due to the impact of the coronavirus pandemic. The US oil benchmark West Texas Intermediate (WTI) rose 0.9% Monday but is down currently. February Brent crude added 0.6% to $50.29 a barrel on Monday.
Gold Market News
| Metals | Change |
| XAUUSD | +0.71% |
Gold prices are rebounding today . February gold fell 0.6% to $1832 an ounce on Monday, a nearly two-week low on US coronavirus vaccine rollout.
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