Equities down ahead of US nonfarm payrolls report - 1.8.2025

The Dollar strengthening 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, gained 0.1% on Thursday.

EUR/USD reversed its sliding while GBP/USD slowed its retreating yesterday as the statistics agency Destatis reported German harmonized consumer inflation fell by more than expected to 1.8% in July. Euro is little changed against the dollar currently and Pound is lower still. USD/JPY accelerated its climbing while AUD/USD slowed its sliding on Thursday with both the yen and Australian dollar higher against the Greenback currently.

US stock market futures are down currently ahead of July jobs report and ISM Manufacturing PMI report at 14:30 CET and 16:00 CET respectively with the yield on benchmark 10-year Treasury notes up at 4.386%. Wall Street ended lower yesterday ahead of tariff deadline with the three main stock benchmarks recording daily losses in the range from -0.7% to -0.03%. After markets closed president Trump signed an order outlining tariff levels against a list of countries that modified “reciprocal” tariffs and will take effect in seven days. Earlier in the day president Trump signed an order raising his tariffs on Canada to 35% from 25%.

European stock markets futures are falling currently after closing lower on Thursday while EU Commissioner for Trade and Economic Security said “EU exporters now benefit from a more competitive position” after the updated US tariff list was published. Asian stock indexes futures are retreating with Hong Kong’s Hang Seng leading losses while data showed China’s manufacturing sector unexpectedly shrank in July.

Brent is edging up today. Prices fell on Thursday ahead of president Trump’s August 1 tariff deadline. West Texas Intermediate (WTI) futures fell 1.06% but are higher currently. Brent futures slid 0.97% to $72.53 a barrel on Thursday.