Global stocks gain after Wall Street rebound - 27.6.2022

The Dollar weakening 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, lost 0.3% on Friday.

Both EUR/USD and GBP/USD reversed their sliding Friday despite data showing sentiment in German business deteriorated more than expected in June. Both Pound and euro are higher against the Dollar currently. Both USD/JPY and AUD/USD reversed their sliding Friday with the yen higher against the Greenback currently and Australian dollar lower.

Futures on US equity benchmarks are up currently after US stocks rallied on Friday despite the University of Michigan's consumer sentiment index falling to the lowest level in its 45-year history. The three main US stock benchmarks recorded daily gains ranging from 2.7% to 3.3% with SP500 tacking almost 6.5% for the week, its best performance in 2022.

European stock indexes are advancing currently after ending higher on Friday led by tech shares. Asian indexes are up today led by Hong Kong’s Hang Seng Index.

Brent is edging up today as European Union countries' energy ministers prepare to discuss options for how they could jointly curb gas demand. Oil prices ended higher on Friday despite energy services firm Baker Hughes report US energy firms added oil and natural gas rigs last week for a second week in a row. West Texas Intermediate (WTI) futures jumped 3.2% and is higher currently. Brent crude rose 2.8% to $113.12 a barrel on Friday.