Global stocks mixed after German inflation surprise - 31.5.2022

The Dollar weakening has halted 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 0.2% on Monday.

Both EUR/USD and GBP/USD accelerated their climbing Monday while the federal statistics office Destatis reported German inflation surged 8.7% in May instead of expected 7.9%. Both pairs are down currently. AUD/USD slowed its advancing yesterday while USD/JPY slowed its sliding with both the yen and Australian dollar lower against the Greenback currently.

Futures on three main US stock indexes are down currently ahead of Chicago Purchasing Managers' Index report at 15:45 CET with the yield on benchmark 10-year Treasury notes inching up to 2.846%. US stock market was closed yesterday for Memorial Day holiday however index futures rose - SP 500 e-mini futures rose 0.3%, having rallied 6.6% last week.

European stock indexes are down currently ahead of eurozone inflation data due today at 11:00 CET. Indexes closed up Monday led by tech shares. Asian indexes are mixed today with Hong Kong’s Hang Seng index leading gains while the Ministry of Economy, Trade and Industry reported Japan's industrial output dropped sharply in April due to lower Chinese demand.

Brent rally is intact currently after the European Union agreed to slash oil imports from Russia by the end of 2022. Prices advanced to two-month high yesterday as Shanghai announced an end to its two-month-long COVID-19 lockdown. US West Texas Intermediate WTI added 1.7% and is higher currently. Brent gained 1.9% to $121.67 a barrel on Monday.