Markets fall after mixed Wall Street session - 13.2.2023

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, rose 0.2% Friday as consumer sentiment data from the University of Michigan showed US consumer sentiment improved more than expected in February.

Both EUR/USD and GBP/USD reversed their climbing on Friday. Both Pound and euro are higher against the Dollar currently. Both USD/JPY and AUD/USD reversed their advancing on Friday with both the yen and the Australian dollar lower against the Greenback currently.

US stocks are edging lower currently after closing mixed on Friday as investors await for US inflation report due on Tuesday. The three main US stock benchmarks recorded daily returns in the range from -0.6% to 0.5% on Friday as a rally in energy stocks helped both the Dow and SP 500 end in positive territory.

European stock indexes futures are down currently after stocks closed lower on Friday with sharply lower travel and leisure shares leading losses. Asian indexes futures are lower today with Hong Kong’s Hang Seng index defying the general trend amid data over the weekend showing that Chinese new bank loans surged to record highs in January as the country relaxed anti-COVID restrictions.

Brent is edging lower currently amid reports European countries' subsidies to shield households and companies from soaring energy costs has climbed to nearly 800 billion euros. Prices ended higher on Friday as Moscow said it plans to reduce its crude oil production in March by 500,000 barrels per day, or about 5% of output. West Texas Intermediate (WTI) futures settled up 2.1% but is lower currently. Brent rose 2.2% to $86.39. Brent added 8.1% from last week's settlement while the US benchmark WTI rallied 8.6%.