Global stocks down after Wall Street selloff deepened - 13.6.2022

The Dollar strengthening is intact 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, jumped 0.7% on Friday as the Bureau of Labor Statistics reported US consumer price index jumped 8.6% compared to May 2021.

Both EUR/USD and GBP/USD continued their sliding Friday. Both Pound and euro are lower against the Dollar currently. AUD/USD slowed its sliding while USD/JPY ended little changed Friday with both yen and the Australian dollar lower against the Greenback currently.

Futures on US equity benchmarks are down currently after US stocks tumbled on Friday following stronger than feared inflation report while the University of Michigan consumer sentiment index, which measures how American consumers feel about the economy, personal finance and business and buying conditions, fell sharply to its lowest recorded value. The three main US stock benchmarks recorded daily losses ranging from 2.7% to 3.5%.

European stock indexes are down currently after ending lower on Friday led by bank shares. Asian indexes are falling today led by Australia’s ASX 200 index .

Brent is edging down today while the price of US gasoline averaged more than $5 a gallon for the first time on Saturday. Oil prices ended lower on Friday while parts of Shanghai imposed new lockdown restrictions and the city announced a round of mass testing for millions of residents. West Texas Intermediate (WTI) futures lost 0.7% and is lower currently. Brent crude fell 0.8% to $122.01 a barrel on Friday.