Markets subdued after Wall Street rally pause - 9.5.2023

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, added 0.1% on Monday.

Both GBP/USD and EUR/USD reversed their advancing on Monday as federal statistics office Destatis reported German industrial production fell more than expected in March. Euro is lower against the dollar currently while Pound is higher. Both AUD/USD and USD/JPY slowed their advancing yesterday with the yen higher against the Greenback currently and Australian dollar lower.

Futures on three main US stock indexes are down currently with the yield on benchmark 10-year Treasury notes down at 3.498%. US stocks closed mixed on Monday, with three main stock benchmarks recording daily returns in the narrow range from -0.17% to 0.18% and reginal banks shares recording losses after posting their best single-day performance in seven weeks on Friday.

European stock indexes futures are lower currently after closing higher on Monday. Asian indexes futures are mostly lower today with Hong Kong’s Hang Seng index leading losses against the background of Chinese data showing exports surged last month while imports eased.

Brent is retreating currently. Prices ended higher on Monday as Alberta declared a state of emergency over the weekend in response to wildfires that prompted energy producers to shut in at least 185,000 barrels of oil equivalent per day, about 2% of Canada's output. US West Texas Intermediate WTI jumped up 2.6% but is lower currently. Brent gained 2.3% to $77.01 a barrel on Monday.