Global markets rebound after Monday pullback - 12.1.2021


Top daily news

Equities markets are up currently ahead of the unofficial start of earnings season on Friday as investors took profits on Monday after last weeks' records. Shares of Twitter tumbled 6.4% after the micro-blogging site permanently suspended President Trump's account. Apple fell 2.32% underperforming market, as smartphone shipments in China fell 20.4% in 2020 according to government data.

Forex news

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.

Stock Market news

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.

Commodity Market news

Brent is rebounding today on expectations of falling US crude oil stockpiles ahead of data from the American Petroleum Institute later today. A preliminary Reuters poll showed on Monday US crude oil stockpiles likely fell for a fifth straight week. Oil prices closed mixed Monday: the US oil benchmark West Texas Intermediate (WTI) added a cent to settle at $52.25 a barrel. Brent crude fell 0.6% to $55.66 a barrel on Monday.

Gold Market News

Gold prices are extending gains today . February gold rose 0.8% to $1850.80 an ounce on Monday.

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