Equities selloff persists after volatile week - 9.5.2022

The Dollar strengthening continues 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 Friday.

GBP/USD continued its sliding Friday while EUR/USD ended marginally higher after federal statistical office Destatis data showing German industrial output fell much more than expected in March. Both Pound and euro are lower against the Dollar currently. AUD/USD slowed its retreating Friday and USD/JPY slowed its advancing with both the Australian dollar and yen lower against the Greenback currently.

Futures on US equity benchmarks are down currently after US stocks ended down on Friday led by tech shares despite Bureau of Labor Statistics report US economy added a better than expected 428,000 jobs in April. The three main US stock benchmarks recorded daily losses ranging from 0.3% to 1.4%.

European stock indexes are lower currently after ending solidly lower on Friday led by retail shares. Asian indexes are retreating today led by Japanese Nikkei as Shanghai and Beijing tightened COVID-19 curbs on their residents.

Brent is edging down today over global oil demand worries after Saudi Arabia, world's top oil exporter, lowered crude prices for Asia and Europe for June on Sunday. Prices ended higher on Friday posting a second straight weekly increase. West Texas Intermediate (WTI) futures rose 1.4% but is lower currently. Brent crude gained 1.3% to $112.39 a barrel on Friday.