Equities mixed after Wall Street rebound - 8.5.2023

The Dollar weakening continues 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, slipped 0.2% Friday.

EUR/USD reversed its sliding while GBP/USD accelerated its climbing on Friday despite federal statistics office Destatis report new orders in manufacturing in Germany fell more than expected in March. Euro and Pound are higher against the Dollar currently. USD/JPY reversed its sliding while AUD/USD accelerated its advancing Friday with both the yen and the Australian dollar higher against the Greenback currently.

US stocks indexes futures are lower currently after closing higher Friday following Bureau of Labor Statistics data showing job growth accelerated in April significantly and wage gains increased. The three main US stock benchmarks recorded solid daily gains in the range from 1.70% to 2.25% on Friday while regional bank shares rebounded after previous selloff prompted by the collapse of First Republic Bank.

European stock indexes futures are mixed currently after closing higher on Friday led by oil and gas shares. Asian stock indexes futures are mostly retreating today with Hong Kong’s Hang Seng index defying regional trend buoyed by Chinese stocks following strong travel and consumer spending data from the Golden Week holiday.

Brent is edging higher currently. Oil prices ended higher on Friday while posting weekly losses. The US oil benchmark West Texas Intermediate (WTI) rallied 4.1% and is higher currently. Brent rose 3.9% to $75.30 a barrel on Friday. Both benchmarks ended the week with losses exceeding 5%.