The dollar is falling along with futures for US indices
January 11, 2019 @ 16:17 UTC
U.S. stock futures slipped with European shares on Friday, while Asian equities rose at the end of a week when sentiment was mostly bolstered by a dovish tone from the Federal Reserve and hopes for a breakthrough on trade. The dollar fell and Treasuries advanced. The Bloomberg Dollar Spot Index sank 0.4 percent to the lowest in more than 15 weeks.
Contracts on the S&P, Dow and Nasdaq indexes pointed to a softer open in New York, while the Stoxx Europe 600 Index handed back an earlier gain. In Asia, shares rose in Shanghai, Tokyo, Seoul and Hong Kong. The greenback was set for a fourth week of losses after Fed Chairman Jerome Powell underscored the message of patience with further interest-rate hikes, while saying the central bank will keep shrinking its balance sheet. European debt tracked Treasuries higher. The pound advanced even as Prime Minister Theresa May’s office countered reports that Brexit may be delayed.
Equities are still set for big gains this week amid signs of progress between the world’s two biggest economies on trade and dovish commentary from the Fed. Nevertheless, worries remain about economic growth and earnings prospects, while there’s also uncertainty as the U.S. partial government shutdown threatens to extend into a fourth week.
Futures on the S&P 500 Index declined 0.1 percent as of 7:34 a.m. New York time, the first retreat in more than a week. The Stoxx Europe 600 Index decreased 0.1 percent. The MSCI All-Country World Index increased 0.1 percent, hitting the highest in more than four weeks with its sixth consecutive advance. The MSCI Emerging Market Index advanced 0.4 percent to the highest in more than five weeks.
U.S. Stock Futures Edge Lower as Dollar Declines, Bloomberg, Jan 11