Equities mixed after weak US data - 16.11.2023

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, edged up 0.1% Wednesday.

Both EUR/USD and GBP/USD reversed their climbing on Wednesday while the Office for National Statistics reported UK headline consumer inflation fell sharply in October to an annual 4.6%, from 6.7% during the previous month. Both euro and Pound are lower against the dollar currently. USD/JPY reversed its sliding yesterday while AUD/USD slowed its climbing with both the yen and the Australian dollar lower against the Greenback currently.

The US stock index futures are lower currently ahead of US unemployment claims data at 14:30 CET today. The three main US stock indexes ended up on Wednesday in the narrow range from 0.1% to 0.5% as data showed US retail sales fell 0.1% in October from the prior month, while wholesale prices declined by 0.5% over month from September.

European stock indexes futures are mixed currently after indexes closed higher yesterday with technology shares leading gains. Asian stock indexes futures are mixed today with Hong Kong’s Hang Seng Index leading losses after data showed new home prices in China continued their decline in October.

Brent is extending losses presently. Prices fell yesterday over 1.5% after Energy Information Administration (EIA) report US crude oil stocks rose by 3.6 million barrels last week while gasoline stocks showed strong demand with a surprise draw of 1.5 million barrels. The US oil benchmark West Texas Intermediate (WTI) futures lost 2% and is lower currently. Brent crude slid 1.6% to $81.18 a barrel on Wednesday.