Equities down ahead of PMI data - 24.7.2023

The Dollar strengthening has halted 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, added 0.3% Friday.

Both EUR/USD and GBP/USD slowed their retreating on Friday while Office for National Statistics data showed UK retail sales rose above expected 0.7% over month in June. Both Euro and Pound are higher against the Dollar currently. USD/JPY accelerated its climbing on Friday while AUD/USD reversed its advancing with both the yen and the Australian dollar higher against the Greenback currently.

US stocks indexes futures are up currently after closing mixed on Friday. The three main US stock benchmarks recorded daily returns in the narrow range from -0.22% to 0.03% on Friday ahead the Federal Reserve rate decision this Wednesday.

European stock indexes futures are down currently after closing marginally higher on Friday with household shares leading gains. Asian stock indexes futures are retreating today with Hong Kong’s Hang Seng index leading losses while SP Global’s PMI data showed business activity in Australia's private sector fell for the first time in four months in July.

Brent is down currently. Oil prices ended over $1 higher on Friday as energy services firm Baker Hughes said US energy firms reduced the number of active oil rigs by seven, their biggest cut since early June. The US oil benchmark West Texas Intermediate (WTI) rose 1.9% but is lower currently. Brent gained 1.8% to $81.07 a barrel on Friday. Both benchmarks recorded gains of over 1% for the week.