Stock markets mixed as rally pauses - 29.3.2021

The Dollar strengthening is intact 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, added 0.03% on Friday despite Bureau of Economic Analysis report Personal Consumption Expenditures (PCE) ticked down to 1.4% over year in February from 1.5% a month earlier.

EUR/USD continued its sliding Friday while GBP/USD resumed climbing despite Office for National Statistics report UK retail sales fell 3.7% over year in February after 5.9% drop in January when a 3.5% fall was expected. Both are lower against the Dollar currently. Both USD/JPY and AUD/USD extended gains marginally Friday with yen higher against the Greenback currently while Australian dollar is lower.

Futures on US equity benchmarks are down currently after ending solidly higher on Friday as the 10-year US Treasury note’s yield rose to 1.66%. The three main US stock benchmarks recorded gains ranging from 1.2% to 1.7% led by technology, healthcare and financial stocks as Federal Reserve Chairman Powell said lenders could resume buybacks and raise dividends starting at the end of June.

European stock indexes are mixed currently after ending higher on Friday led by mining shares. Asian indexes are mixed today with Nikkei index leading gainers followed by Shanghai Composite as China and Iran signed a 25-year deal on Saturday with Beijing planning to invest in Iran while buying oil from the Islamic Republic.