Stocks retreating after US rating downgrade - 19.5.2025

The Dollar strengthening has halted presently. 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, slid 0.25% on Friday.

Both EUR/USD and GBP/USD reversed their advancing on Friday as the statistics office Eurostat reported the euro zone surplus in international trade in goods rose in March when a decline was forecast. Both USD/JPY and AUD/USD reversed their sliding on Friday with both the Australian dollar and the yen higher against the Greenback currently.

US stock indexes futures are down currently ahead of panel discussion that Federal Reserve Bank of New York President John Williams will participate scheduled for 14:30 CET at Secondary and Capital Markets Conference in New York. Futures are down after Moody’s downgraded US’s credit rating citing concerns over government debt. US Treasury Secretary Scott Bessent dismissed the Moody’s downgrade, while warning trade partners they would be hit with maximum tariffs if they did not offer deals in "good faith". Wall Street ended up on Friday. The three main stock benchmarks recorded daily gains in the range from 05% to 0.8% despite weaker consumer sentiment data from the University of Michigan.

European stock futures are mixed today after closing higher on Friday led by household goods stocks. Asian stock indexes futures are mostly down with Hong Kong’s Hang Seng index defying the trend after data showed China’s industrial production grew more than expected in April while retail sales grew less than forecast.

Brent is edging lower currently. Prices ended over 1% higher on Friday on expectations of higher supply from Iran and OPEC+ after president Donald Trump said on Thursday the US was nearing a nuclear deal with Iran. US West Texas Intermediate WTI futures rose 1.4% but are lower currently. Brent gained 1.4% to $65.41 a barrel on Friday.