Equities down after US stocks rebound - 9.10.2024

The Dollar strengthening has resumed 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, ended 0.04% lower on Tuesday.

GBP/USD joined EUR/USD’s slowed advancing yesterday while federal statistics office Destatis reported German industrial output rose more than expected in August. Both Pound and euro are lower against the dollar currently. USD/JPY reversed its sliding while AUD/USD slowed its retreating on Tuesday with both the yen and Australian dollar lower against the Greenback currently.

Futures on three main US stock indexes are down currently ahead of Fed meeting minutes release at 22:00 CET with the yield on benchmark 10-year US notes down at 4.02%. Stock indexes ended up on Tuesday as three main stock benchmarks recorded daily gains in a range from 03% to 1.4% led by tech shares.

European stock indexes are higher currently after closing down on Tuesday with mining shares leading losses. Asian indexes futures are mostly lower today with Hong Kong’s Hang Seng index leading losses as China’s top economic regulator gave little cues on how the new stimulus measures, which include proposed rate cuts, lower reserve requirements and more liquidity support, will be implemented.

Brent is steady currently. Prices ended sharply lower yesterday on news of a possible ceasefire between Hezbollah and Israel. The Energy Information Administration (EIA) will release its US inventory data at 18:30 CET today. The US oil benchmark West Texas Intermediate (WTI) slump 4.63% but is steady currently. Brent dropped 4.63% to $77.18 a barrel on Tuesday.