Equities bounce after Wall Street dip - 15.5.2023

The Dollar strengthening has halted 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, rose 0.6% Friday.

Both EUR/USD and GBP/USD continued their sliding on Friday as the Office for National Statistics data showed UK gross domestic product fell unexpectedly in March. Euro and Pound are higher against the Dollar currently. USD/JPY accelerated its advancing on Friday while AUD/USD continued its sliding with both the yen lower against the Greenback currently and the Australian dollar higher.

US stocks indexes futures are higher currently after closing lower on Friday following University of Michigan preliminary report showing the Michigan Consumer Sentiment Index fell more than expected. The three main US stock benchmarks recorded daily losses in the range from 0.03% to 0.35% on Friday while regional bank shares extended losses.

European stock indexes futures are up currently after closing higher on Friday led by oil and gas shares. Asian stock indexes futures are mostly retreating today with Hong Kong’s Hang Seng index leading gains .

Brent is extending losses currently. Oil prices ended lower on Friday while US energy secretary Jennifer Granholm signaled that the US could repurchase oil for the Strategic Petroleum Reserve (SPR) after completing a congressionally mandated sale next month. The US oil benchmark West Texas Intermediate (WTI) lost 1.2% and is lower currently. Brent declined 1.1% to $74.17 a barrel on Friday. Both benchmarks ended the week with losses around 1.5%.