Markets in red after Trump tariffs - 3.2.2025

The Dollar jumped 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 0.2% higher on Friday.

GBP/USD joined EUR/USD’s accelerated retreating on Friday while data showed German retail sales dropped more than forecast. Both euro and Pound are lower against the Dollar currently. Both USD/JPY and AUD/USD reversed their sliding on Friday with bot the yen and Australian dollar lower against the Greenback currently.

US stock indexes futures are firmly in red currently after dipping on Friday. The three main US stock benchmarks recorded daily losses in the range from -0.75% to -0.3% on the last trading day of the first month after White House confirmed new tariffs against Mexico, Canada and Chin will be imposed on February 1.

European stock futures are lower currently after closing higher on Friday as preliminary data from the statistics office Destatis showed German inflation was unchanged at 2.8% over year in January. Asian stock indexes futures are down today with Japan’s Nikkei leading losses after US introduced 25% additional levy on imports from Canada and Mexico and a 10% tariff on Chinese goods.

Brent is inching higher currently. Prices ended marginally lower on Friday as president Trump said he expected to decrease proposed tariffs on Canadian oil from 25% to 10%, and to impose duties on oil and gas around February 18, later than initially feared. US West Texas Intermediate WTI slid 0.3% but is higher currently. Brent slipped 0.28% to $76.22 a barrel on Friday. For the week Brent lost 2.1% and WTI fell 2.9%.