Stocks mixed ahead of Federal Reserve officials speeches - 20.4.2023

The Dollar strengthening has halted 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, added 0.3% Wednesday.

EUR/USD reversed its advancing while   GBP/USD slowed its climbing on Wednesday as UK consumer price inflation came in at 10.1% in March, down from 10.4% in February. Euro and Pound are lower against the Dollar currently. USD/JPY reversed its retreating and AUD/USD reversed its advancing yesterday with both the yen and the Australian dollar higher against the Greenback currently.

The US stock index futures are lower currently ahead of Department of Labor report on unemployment claims scheduled for 14:30 CET today. The three main US stock indexes ended mixed on Wednesday recording daily returns in the range from -0.2% to 0.3% after Federal Reserve’s Beige Book findings business activity appeared to decline slightly during the current Beige Book period after increasing last period.

European stock indexes futures are down currently after indexes closed marginally lower yesterday with tech shares leading losses. Asian stock indexes futures are mostly lower today with  Australia’s S&P/ASX 200 All Ordinaries index leading losses.

Brent is extending losses presently. Prices ended lower yesterday despite Energy Information Administration report US crude inventories fell by a bigger than expected 4.6 million barrels last week as refinery runs and exports rose. At the same time, gasoline inventories jumped unexpectedly on softer demand. The US oil benchmark West Texas Intermediate (WTI) futures fell 2.1% and is lower currently. Brent crude lost 2.0% to $83.12 a barrel on Wednesday.