Markets mixed ahead of November Nonfarm Payrolls data - 6.12.2024

The Dollar weakening has reversed today. 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 0.6% lower on Thursday.

Both EUR/USD and GBP/USD accelerated their advancing yesterday as the British Chambers of Commerce revised its UK growth outlook upwards for the next two years. Both Pound and euro are lower against the dollar currently. USD/JPY reversed its advancing while AUD/USD reversed its retreating on Thursday with both the yen and Australian dollar lower against the Greenback currently.

US stock index futures are mixed currently with the yield on benchmark 10-year Treasury notes down at 4.176%. The three main stock benchmarks ended mixed on Thursday with the three main US stock benchmarks recording daily losses in a range from -0.55% to -0.18% ahead of the release of key US November jobs data.

European indexes futures are mixed today after stock indexes closed higher yesterday with bank and travel shares leading gains. Asian stock indexes futures are mixed today with Japan’s Nikkei leading losses while Chinese stocks advanced on stimulus hopes ahead of a key Chinese economic meeting next week.

Brent is extending losses currently. Prices ended lower on Thursday as the Organization of the Petroleum Exporting Countries and its allies including Russia delayed planned output increases by three months to April 2025. West Texas Intermediate (WTI) futures slid 0.35% and are lower currently. Brent futures slipped 0.3% to $72.09 a barrel on Thursday.