Markets venture up after Wall Street rebound - 24.3.2025

The Dollar has reversed its strengthening 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, ended 0.3% higher on Friday.

Both GBP/USD and EUR/USD continued their retreating on Friday while Deutsche Bank revised lower its forecast of Germany’s GDP growth forecast for 2025 to 0.3% “ in light of stronger global cross-currents.” Both euro and Pound are higher against the Dollar currently. USD/JPY accelerated its climbing while AUD/USD slowed its sliding on Friday with the Australian dollar higher against the Greenback currently and the yen lower still.

US stock indexes futures are up currently as reports over the weekend indicated president Trump will not impose industry-specific tariffs on April 2 as previously threatened, and will limit his plans for reciprocal tariffs to about 15 countries which he sees as having major trade imbalances with Washington. US stocks ended higher on Friday with the three main stock benchmarks recording daily gains in the range from 0.08% to 0.5% led by technology shares.

European stock futures are advancing currently after closing lower on Friday led by basic resources shares. Asian stock indexes futures are rising today with Hong Kong’s Hang Seng index leading gains buoyed by technology shares amid reports that Ant Group had developed less costly techniques for training AI models using chips locally developed by Ma’s Alibaba and Huawei Technologies which employ less costly techniques for training AI models, highlighting the country’s growing independence in chip production after it was recently blacklisted by the US.

Brent is edging higher currently. Prices ended higher on Friday amid reports of OPEC+ plan for seven members to cut output further to compensate for producing more than agreed levels. The plan would represent monthly cuts of between 189,000 barrels per day (bpd) and 435,000 bpd until June 2026. US West Texas Intermediate WTI rose 0.3% and is higher currently. Brent gained 0.2% to $72.16 a barrel on Friday.