Markets mixed after Wall Street retreat - 25.5.2023

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, added 0.4% Wednesday.

Both GBP/USD and EUR/USD continued their retreating on Wednesday while UK inflation dropped less than forecast in April. Both euro and Pound are lower against the Dollar currently. USD/JPY resumed its advancing yesterday whileAUD/USD accelerated its sliding with the Australian dollar lower against the Greenback currently and the yen little changed.

The US stock index futures are mixed currently ahead of unemployment claims report at 14:30 CET today. The three main US stock indexes ended lower again on Wednesday recording daily losses in the narrow range from 0.6% to 0.77% as minutes from the Fed's May 2-3 meeting showed that Fed officials "generally agreed" that the need for further interest rate increases "had become less certain."

European stock indexes futures are lower currently after indexes closed down yesterday with auto shares leading losses. Asian stock indexes futures are mostly lower today with Hong Kong’s Hang Seng Index leading losses while chipmaking stocks were buoyed by better than expected Nvidia Corporation results.

Brent is edging down presently. Prices ended higher yesterday after Energy Information Administration report US crude inventories plunged unexpectedly by 12.5 million barrels last week while gasoline inventories fell by 2.1 million barrels. Prices drew support also from Saudi Arabia's energy minister’s comment short-sellers betting oil prices will fall should "watch out" for pain. The US oil benchmark West Texas Intermediate (WTI) futures surged 2% but is lower currently. Brent crude rose 2% to $78.36 a barrel on Wednesday.