Global stocks near all time highs after Wall Street rebound - 5.2.2021

The Dollar strengthening has stalled currently ahead of Non- Farm Employment report at 14:30 CET 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, jumped 0.4% Thursday as US Labor Department reported 779 thousand Americans sought unemployment benefits over the last week, down from 812 thousand the previous week, and US factory orders rose 1.1% over month in December after 1.3% growth in November when 0.7% growth was expected.

EUR/USD continued retreating while GBP/USD reversed its sliding Thursday as the euro-zone statistics agency Eurostat reported retail sales in euro-zone rose 2% over month in December after 5.7% drop in prior month. The Bank of England on Thursday left monetary policy unchanged and said British banks will need at least six months to prepare for a potential shift to negative interest rates. The dynamics is intact for both euro and Pound against the Dollar currently. AUD/USD reversed its rising yesterday while USD/JPY kept climbing with both Australian dollar and yen lower against the greenback currently.

Futures on three main US stock indexes are higher currently. Wall Street erased all of last week’s sharp losses yesterday as US economy recorded a smaller than expected rise in weekly jobless claims. The three main US stock benchmarks recorded gains ranging from 1.1% to 1.2%.

European stock indexes are mixed today after closing mixed Thursday. Asian indexes are mostly up today with Nikkei leading gains.