Markets slip after Wall Street uptick - 8.1.2024

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, gained 0.1 % on Friday while Bureau of Labor Statistics report showed US economy created higher than expected new jobs in December.

EUR/USD reversed its advancing on Friday while GBP/USD accelerated its climbing as Eurostat reported euro zone inflation accelerated in December. Both euro and Pound are little changed against the Dollar currently. USD/JPY reversed its advancing on Friday while AUD/USD reversed its sliding with the yen higher against the Greenback currently and the Australian dollar lower.

US stocks indexes futures are down currently after closing up on Friday following upbeat December nonfarm payrolls report. The three main US stock benchmarks recorded daily gains in the narrow range from 0.1% to 0.18% on Friday while data from the Institute for Supply Management (ISM) pointed to a weaker economy.

European stock indexes futures are mixed currently after closing lower on Friday led by retail shares. Asian stock indexes futures are lower today with Hong Kong’s Hang Seng index leading losses.

Brent is down currently after Saudi Arabia slashed the prices of its Asian crude exports to over two-year lows. Prices ended higher on Friday amid Middle East tensions as shipping giant Maersk said it would divert all vessels away from the Red Sea for the foreseeable future, warning customers of disruptions. The US oil benchmark West Texas Intermediate (WTI) rose 2.2% but is lower currently. Brent gained 1.51% to $78.76 a barrel on Friday.