Markets mostly down after Wall Street selloff overnight - 13.5.2021

The Dollar strengthening has halted currently ahead of the US Labor Department report at 14:30 CET expected to show 487 thousand Americans sought unemployment benefits over the last week, down from 498 thousand the previous week. 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 0.7% Wednesday as the Bureau of Labor Statistics reported the core consumer prices index (CPI), which excludes volatile food and energy items, grew at 3% over year in April, far above the central bank's average annual 2% inflation growth target.

Both EUR/USD and GBP/USD reversed their climbing on Wednesday as Eurostat reported industrial output in euro-zone in March expanded just 0.1% over month instead of expected 0.8%. Euro is on the rise against the Dollar currently while Pound is flat. USD/JPY reversed its sliding Wednesday while AUD/USD reversed its climbing with both yen and Australian dollar higher against the Greenback currently.

The US stock futures are up currently with the 10-year US Treasuries yield at 1.685% ahead of 30-year US Treasuries auction today at 19:01 CET. The three main US stock indexes booked losses ranging from 2.0% to 2.7% Wednesday led by consumer discretionary shares spurred by concerns over whether interest rate hikes from the Federal Reserve could happen sooner than anticipated.

European stock indexes are lower currently after ending higher Wednesday with oil and gas shares leading gains as the European Commission estimate projected the EU economy will expand by 4.2% in 2021 and by 4.4% in 2022. Asian stock indexes are mostly rising today with Nikkei leading losses amid reports Japan’s service sector confidence fell at the sharpest pace in a year in April.