Markets pause after Wall Street ends little changed - 16.11.2021

Senior Analytical Expert

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Todays’ Market Summary

The Dollar strengthening has ceased currently
Futures on three main US stock indexes are mixed currently
Brent is edging higher currently ahead of data from the American Petroleum Institute later today.
Gold prices are rising currently

Top daily news

Equity index futures are mixed currently after Wall Street ended virtually unchanged Monday against the backdrop of rising Treasury yields while President Biden signed into law the $1 trillion infrastructure bill. Facebook gained 1.96% outperforming market despite news Ohio’s attorney general filed a suit alleging that Facebook misled the public about the negative effects the company’s products can have on kids’ wellbeing, Tesla shares dropped 1. 94% on Monday after Elon Musk tweeted whether senator Berny Sanders wanted him to sell more stock following a Saturday tweet by Sanders “We must demand that the extremely wealthy pay their fair share. Period.”

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Forex news

Currency Pair	Change
EURUSD	+0.09%
GBPUSD	+0.39%
USDJPY	+0.11%
AUDUSD	-0.05%

The Dollar strengthening has ceased 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, rose 0.5% on Monday as data showed manufacturing activity in New York surged in November.

GBP/USD joined EUR/USD’s accelerated retreating Monday as European Central Bank President Christine Lagarde said that tightening monetary policy now to rein in inflation could choke off the euro zone’s recovery. Both euro and Pound are higher against the Dollar currently. USD/JPY joined AUD/USD’s continued advancing Monday with both the Australian dollar and yen lower against the Greenback currently.

Stock Market news

Indices	Change
DJI	-0.05%
NIKKEI	+0.17%
HK50	+1.07%
AU200	-0.09%

Futures on three main US stock indexes are mixed currently ahead of US retail sales report at 14:30 CET today. Stocks ended mixed Monday with bank stocks, which benefit from higher bond yields, offsetting losses from tech shares which tend to fall as interest rates rise: the stock index benchmarks booked daily returns in the range of -0.04% to 0.00%.

European stock indexes are down currently after ending marginally higher Monday led by retail and utilities shares. Asian indexes are mixed today with Hang Seng leading gains after president Biden and Xi Jinping started their closely-watched talks warmly, with the Chinese leader calling the US President an “old friend”.

Commodity Market news

Commodities	Change
#C-BRENT	+0.93%
OIL	+0.7%

Brent is edging higher currently ahead of data from the American Petroleum Institute later today. Prices closed mixed Monday supported by speculation that President Biden's administration could release crude oil from the U.S. Strategic Petroleum Reserve. US West Texas Intermediate WTI gained 0.1% and is higher currently. Brent slid 0.2% to $82.05 a barrel on Monday.