Global markets waver as Wall Street selloff deepened - 25.4.2022

The Dollar strengthening continues 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, rose 0.5% on Monday.

Both GBP/USD and EUR/USD accelerated their sliding Friday despite Markit data showing euro area private sector activity expansion accelerated in April. Both Pound and euro are lower against the Dollar currently. AUD/USD accelerated its retreating Friday and USD/JPY continued advancing with Australian dollar lower against the Greenback currently and yen higher.

Futures on US equity benchmarks are down currently after US stocks ended solidly down on Friday led by healthcare shares as Markit reported US private sector activity expansion slowed in April. The three main US stock benchmarks recorded daily losses ranging from 2.5% to 2.8%, posting weekly declines in the range of 1.9% to 3.8%.

European stock indexes are retreating currently after ending lower on Friday led by mining shares. French president Emmanuel Macron won a second term as French president in Sunday election runoff. Asian indexes are down today with Hong Kong’s Hang Seng index leading losses as lockdowns spread also to Beijing.

Brent is extending losses today as China's lockdowns expanded to Beijing while the Russia-Kazakh Caspian Pipeline Consortium resumed cure oil exports from April 22 after almost 30 days of stoppage. Prices slumped on Friday and booked their third straight weekly decline. West Texas Intermediate (WTI) futures lost 1.7% and is lower currently. Brent crude slid 1.6% to $106.65 a barrel on Friday.