Markets mixed as investors await US inflation data - 24.6.2024

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, ended 0.2% higher on Friday.

Both GBP/USD and EUR/USD slowed their sliding on Friday while data showed an upturn in business activity in Germany slowed in June. Both Pound and euro are little changed against the Dollar currently. USD/JPY continued its advancing while AUD/USD continued its sliding on Friday with the yen lower against the Greenback currently and the Australian dollar higher.

US stock indexes futures are higher currently after ending mixed on Friday. The three main US stock benchmarks recorded daily returns in a narrow range from -0.16% to 0.0.4% after the SP Global survey results indicated US manufacturing sector activity expansion hit a 26-month high in June.

European stock futures are mixed after closing lower on Friday led by technology and bank shares. Asian stock indexes futures are mixed today with Hong Kong’s Hang Seng index leading losses as the European Union and China agreed on Saturday to restart tariff talks after a call between EU Commissioner Valdis Dombrovskis and Chinese Commerce Minister Wang Wentao while Beijing wants the European Union to scrap its preliminary tariffs on Chinese electric vehicles by July 4.

Brent is steady currently. Prices ended lower on Friday while the US active oil rig count, an early indicator of future output, fell by 3 to 485, according to energy services firm Baker Hughes. US West Texas Intermediate WTI slid 0.7% but is little changed currently. Brent lost 0.6% to $85.24 a barrel on Friday. For the week, both Brent and the US benchmark gained nearly 3% over the week.