Markets mixed after Wall Street dip - 8.10.2024

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 0.07% higher on Monday.

EUR/USD slowed its sliding and GBP/USD resumed its retreating on Monday while Eurostat reported euro area retail sales edged up in August in line with expectations. Both euro and Pound are higher against the dollar currently. USD/JPY joined AUD/USD’s continuing retreating yesterday with the yen higher against the Greenback currently and Australian dollar lower still.

Futures on three main US stock indexes are mixed currently with the yield on benchmark 10-year Treasury down at 4.004%. US markets ended lower on Monday as the three main stock benchmarks recorded daily losses in a range from -1.18% to -0.95% with tech stocks leading losses.

European stock indexes futures are down currently after indexes closed higher on Monday with household goods shares leading losses. Asian indexes futures are mixed today with Hong Kong’s Hang Seng index leading losses amid heavy profit-taking after surging to an over one-year high on bargain hunting and optimism over Chinese stimulus measures as investors bought into Chinese markets after the Golden Week holiday.

Brent is retracing lower currently. Oil prices ended over 3% higher yesterday as rockets fired by Iran-backed Hezbollah hit Israel's third-largest city, Haifa, early on Monday. US West Texas Intermediate WTI ended 3.7% higher but is lower currently. Brent rose 3.7% to $80.93 a barrel on Monday.