No single trend in global markets after Wall Street drop - 27.2.2023

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, jumped 0.6% Friday as Federal Reserve’s preferred gauge of inflation, the personal consumption expenditures price index, rose 5.4% last month from January 2022.

Both EUR/USD and GBP/USD accelerated their sliding on Friday as the federal statistical office Destatis downgraded German economy’s Q4 2022 contraction. Both Pound and euro are lower against the Dollar currently. USD/JPY reversed its retreating and AUD/USD reversed its advancing on Friday with the yen higher against the Greenback currently and the Australian dollar lower still.

US stocks indexes futures are mixed currently after closing solidly lower on Friday as acceleration in the Federal Reserve’s favored measure of inflation spurred fears Federal Reserve will continue hiking interest rates. The three main US stock benchmarks recorded daily losses in the range from 1.0% to 1.7% on Friday with tech stocks leading losses.

European stock indexes futures are mixed currently after stocks closed lower on Friday with travel and leisure shares leading losses. Asian indexes futures are mostly lower today with Hong Kong’s Hang Seng index leading losses.

Brent is edging lower currently. Prices ended higher on Friday as energy services firm Baker Hughes reported the total count of active US oil rigs was up 103 rigs last week, or 15.8%, over this time last year. West Texas Intermediate (WTI) futures settled up 1.2% but is lower currently. Brent added 1.2% to $83.16. Both benchmarks ended little changed on the week.