Stocks pause as Wall Street dips ahead of Fed meeting - 14.12.2021

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, rose 0.3% on Monday.

Both EUR/USD and GBP/USD reversed their advancing Monday as federal statistics office Destatis reported German Wholesale Price Index slowed its growth to 1.3% over month in November from 1.6% in previous month. Both euro and Pound are lower against the Dollar currently. USD/JPY reversed its sliding yesterday while AUD/USD reversed its climbing with both yen and the Australian dollar lower against the Greenback currently.

Futures on three main US stock indexes are advancing currently. Wall Street stocks closed lower on Monday as investors expect the Federal Reserve will signal a faster reduction of its $120 billion a month bond buying program at its two-day meeting that wraps up on Wednesday. The three main stock index benchmarks booked daily losses in the range of 0.9% to 1.4% led by travel shares.

European stock indexes are mixed currently after ending lower Monday after Britain reported the first death from the Omicron variant on Sunday. Asian indexes are mostly in red today with Hang Seng index leading losses dragged down by developers shares falling on concerns over the health of China's property sector.

Brent is extending losses currently ahead of data from the American Petroleum Institute later today. Prices closed down Monday despite Organization of the Petroleum Exporting Countries raising of its world oil demand forecast for the first quarter of 2022. US West Texas Intermediate WTI slid 0.5% and is lower currently. Brent fell 1% to $74.39 a barrel on Monday.