US MARKETS REOPEN TODAY

Dollar weakness persists

US financial markets were closed Monday for Martin Luther King holiday. The dollar weakening persisted after Friday’s slump prompted by the euro rally and steady December inflation: 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, fell 0.6% to 90.432. Futures on main US stock indices rose yesterday and point to higher opening today.

Stronger euro weighs on European indices

European stock indices closed lower on Monday weighed by stronger euro. The euro rose further against the dollar after closing above $1.20 Friday. British Pound also rose after Friday rally. The Stoxx Europe 600 index lost 0.2%. The DAX 30 fell 0.3% to 13200.51. France’s CAC 40 slipped 0.1% and UK’s FTSE 100 pulled back 0.1% from Friday’s record close to 7769.14.

Asian stocks rise

Asian stock indices are mostly higher today. Nikkei rose 0.9% to 23845.00 while yen reversed gains against the dollar as Japanese Finance Minister Taro Aso said he did not see problems with the dollar weakening. Chinese stocks are rising: the Shanghai Composite Index is 0.8% higher and Hong Kong’s Hang Seng Index is up 1.4%. Australia’s All Ordinaries Index is 0.5% lower with Australian dollar steady against the US dollar.

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