Markets mixed after Wall Street extended rally - 5.5.2025

The Dollar weakening continues presently. 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, slid 0.25% on Friday.

Both EUR/USD and GBP/USD reversed their retreating on Friday as the statistics office Eurostat reported inflation in the euro zone held steady at 2.2% in April despite expectations of a decline to 2.1%. USD/JPY reversed its climbing and AUD/USD reversed its sliding on Friday with both the Australian dollar and the yen higher against the Greenback currently.

US stock indexes futures are down currently after ending up on Friday. The three main stock benchmarks recorded daily gains in the range from 1.4% to 1.5% on the back of  stronger than expected April nonfarm payrolls report.

European markets are mixed today after closing higher on Friday led by industrials and technology stocks. Asian stock indexes futures are mixed in thin trading with markets in Japan, China and Hong Kong closed for holidays while Australia’s ASX 200 index is leading losses after Australia’s second largest mortgage lender, Westpac Banking Corp, reported a 1% decline in net profit due to tighter lending margins offsetting growth in its loan portfolio.

Brent is sharply down currently after OPEC+ agreement at Saturday meeting to accelerate oil production hikes for a second consecutive month, raising output in June by 411,000 barrels per day. Prices ended over 1% lower on Thursday. US West Texas Intermediate WTI futures lost 1.4% and are lower currently. Brent fell 1.6% to $58.29 a barrel on Friday. Brent crude futures recorded losses of 8% over the week, WTI lost 7.7% for the week.