Stocks down after Wall Street rebound - 16.9.2021

The Dollar strengthening has resumed currently ahead of the US Labor Department report at 14:30 CET expected to show 325 thousand Americans sought unemployment benefits over the last week, up from 310 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, lost 0.2% Wednesday.

Both EUR/USD and GBP/USD reversed their sliding on Wednesday after data showed UK inflation soared to a nine-year high in August. Both pairs are lower currently. USD/JPY continued sliding Wednesday while AUD/USD reversed it retreating with the yen higher against the Greenback currently and Australian dollar lower after data showed employment in Australia fell sharply in August.

The US stock index futures are mixed currently with the 10-year US Treasuries note yields down at 1.296%. The three main US stock indexes booked gains Wednesday ranging from 0.68% to 0.85% as Federal Reserve reported the US industrial production growth slowed less than forecast in August.

European stock indexes are mixed currently after ending down Wednesday with utilities shares leading losses. Asian stock indexes are mostly in red today with Hong Kong’s Hang Seng Index leading declines again dragged by Chinese property developers’ shares as China Evergrande Group - with total liabilities of more than $300 billion -  unable to raise sufficient funds to pay its lenders and suppliers, applied to suspend trading of its main unit’s onshore corporate bonds following a downgrade.