Markets advance tracking Wall Street - 6.2.2025

The Dollar strengthening has resumed today. 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 0.4% lower on Wednesday.

Both the GBP/USD and EUR/USD continued slowing their advance yesterday as Eurostat reported producer prices rose less than expected in euro area in December. Both Pound and euro are lower against the dollar currently. USD/JPY accelerated its retreating while AUD/USD slowed its advancing on Wednesday with both the yen and the Australian dollar lower against the Greenback currently.

The US stock index futures are up currently ahead of unemployment benefits report at 14:30 CET. US stocks ended higher on Wednesday with the three main US stock benchmarks recording daily gains in a range from 0.19% to 0.7% while the Institute for Supply Management reported US services sector activity unexpectedly slowed in January amid cooling demand.

European stock indexes are higher currently after closing mixed yesterday as UK government debt yields fell ahead of central bank decision. Traders expect the Bank of England will cut interest rates 25 basis points at 13:00 CET today, its first interest rate cut of the year. Asian stock indexes futures are rising currently with Hong Kong’s Hang Seng Index leading gains on bullish sentiment spurred by the release of DeepSeek’s powerful artificial intelligence model that cost DeepSeek a mere $6 million to build.

Brent is edging up presently. Prices ended over 2% lower on Wednesday as the Energy Information Administration reported US crude inventories rose by above expected 8.7 million barrels last week. The US oil benchmark West Texas Intermediate (WTI) futures lost 2.3% but are higher currently. Brent crude slid 2.1% to $74.61 a barrel on Wednesday.