Stocks down after Wall Street rebound - 4.12.2023

The Dollar weakening has reversed 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, slid 0.3 % on Friday while data showed US manufacturing activity continues to contract as factories contend with decreasing new orders.

EUR/USD slowed its retreating while GBP/USD reversed its sliding on Friday while latest purchasing managers’ index figures indicated euro zone manufacturing activity continued declining in November. Both euro and Pound are lower against the Dollar currently. USD/JPY reversed its advancing on Friday while AUD/USD reversed its sliding with both the yen and the Australian dollar lower against the Greenback

US stocks indexes futures are down currently after closing up on Friday following dovish remarks by Fed chair Powell the central bank needs to "move forward carefully" amid signs of economic softening. The three main US stock benchmarks recorded daily gains in the narrow range from 0.6% to 0.8% on Friday led by real estate shares.

European stock indexes futures are mixed currently after closing higher on Friday led by mining shares. Asian stock indexes futures are mostly down today with Hong Kong’s Hang Seng index leading losses while the People's Bank of China set another firm fix for the yuan.

Brent is extending losses currently. Oil prices continued their retreating on Friday as OPEC+ producers agreed the previous day to remove around 2.2 million barrels per day (bpd) of oil from the global market in the first quarter of next year. That total includes a rollover of Saudi Arabia and Russia's 1.3 million bpd of current voluntary cuts. The US oil benchmark West Texas Intermediate (WTI) fell 2.5% and is lower curently. Brent lost 2.45% to $78.88 a barrel on Friday. For the week, Brent notched a decline of about 2.1%, while WTI lost more than 1.9%.