Global markets rebound after Monday pullback - 12.1.2021

The Dollar strengthening has stalled 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, jumped 0.6% Monday as selloff in US Treasuries, yields on which rise when prices fall, extended.

GBP/USD joined EUR/USD’s accelerated declining Monday as payment card provider Barclaycard reported UK consumer spending contracted 2.3% over-year in December. Both Euro and Pound are higher currently against the Dollar. AUD/USD accelerated its sliding yesterday while USD/JPY speeded the pace of its climbing with both yen and Australian dollar higher against the Greenback currently.

Futures on three main US stock indexes are higher currently ahead of Federal Open Market Committee member Lael Brainard’s speech at an online Fed symposium on artificial intelligence due to start at 15:35 CET today. Stocks pulled back Monday as Democrats introduced a resolution to impeach President Donald Trump on grounds of inciting insurrection following a violent attack on the Capitol last week. The three US main stock benchmarks suffered losses ranging from 0.3% to 1.3% Monday, led by consumer discretionary and communications services stocks.

European stock indexes are up currently after ending solidly lower yesterday led by auto shares. Asian indexes are mostly higher today with Shanghai Composite leading gains.