Global markets mixed after sharp Wall Street drop - 2.5.2022

The Dollar strengthening has resumed 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, lost 0.4% on Friday.

Both GBP/USD and EUR/USD reversed their sliding Friday after Eurostat data showing euro area inflation hit a record high for the sixth consecutive month, ticking up to 7.5% in April from 7.4% in March, in line with expectations. Both Pound and euro are lower against the Dollar currently. AUD/USD accelerated its retreating Friday and USD/JPY reversed its advancing with both the Australian dollar and yen lower against the Greenback currently.

Futures on US equity benchmarks are up currently after US stocks ended sharply down on Friday led by tech shares as Amazon reported its first loss since 2015 and gave a disappointing guidance, citing higher costs amid slowing growth. The three main US stock benchmarks recorded daily losses ranging from 2.8% to 4.2%, posting monthly declines in the range of 5.0% to 13.3%.

European stock indexes are mixed currently after ending higher on Friday led by basic resources shares. Asian indexes are up today lead by Japanese Nikkei with Chinese markets closed for Labor Day.

Brent is edging up today while the European Union energy ministers are weighing Russia import ban. Prices ended mixed on Friday but booked their fifth straight monthly gain. West Texas Intermediate (WTI) futures lost 0.6% but is higher currently. Brent crude rose 1.6% to $109.34 a barrel on Friday.