Stocks down amid ongoing trade war uncertainties - 5.2.2025

The Dollar weakening conintues 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 0.4% lower on Tuesday.

Both EUR/USD and GBP/USD slowed their advancing yesterday. Both Pound and euro are higher against the dollar currently. USD/JPY accelerated its sliding while AUD/USD slowed its advancing on Tuesday with both the yen and Australian dollar higher against the Greenback currently.

Futures on three main US stock indexes are down currently with the yield on benchmark 10-year US notes steady at 4.513%. Stock indexes ended higher again on Tuesday after President Trump delayed tariffs for Canada and Mexico. The three main benchmarks recorded daily gains in the range from 0.3% to 1.35% led by technology shares.

European stock indexes are mixed currently after closing higher on Tuesday as Trump announced a 30-day pause on tariffs on Mexico and Canada. Asian indexes futures are mostly lower today with Hong Kong’s Hang Seng index leading losses as Chinese markets resumed trade after a week-long Lunar New Year holiday against the backdrop of Chines retaliatory tariffs on US goods, including a 15% levy on coal and liquefied natural gas, and a 10% tariff on crude oil, farm equipment, and certain vehicles that are set to take effect on February 10, 2025.

Brent is edging lower currently. Prices ended mixed yesterday while President Donald Trump ordered the U.S. Treasury secretary to impose "maximum economic pressure" on Iran in a bid to drive Iranian oil exports to zero. The US oil benchmark West Texas Intermediate (WTI) slid 0.6% and is lower currently. Brent added 0.3% to $76.20 a barrel on Tuesday.