Equities attempt recovery as US yields ease - 21.4.2022

The Dollar weakening 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, lost 0.5% Wednesday.

Both GBP/USD and EUR/USD reversed their sliding Wednesday after federal statistics office Destatis data showing the rise of the index of producer prices in Germany accelerated to 30.9% compared with March 2021, the highest increase ever. Both Pound and euro are up against the Dollar currently. USD/JPY reversed its climbing yesterday while AUD/USD continued rising with the Australian dollar little changed against the Greenback currently and yen higher.

The US stock index futures are up currently ahead of Fed chair Powell’s speeches today due at 17:00 CET and 19:00CET. The three main US stock indexes booked returns ranging from -1.2% to 0.71% Wednesday with Netflix dragging down tech-heavy Nasdaq.

European stock indexes are up currently after ending higher Wednesday with tech stocks leading gains.. Asian stock indexes are mostly up today with Nikkei leading gains while Chinese shares edged down as the central bank surprised markets on Wednesday by keeping benchmark lending rates unchanged.

Brent is edging up currently. Prices dipped yesterday despite the US Energy Information Administration report of US crude stockpiles drop of 8 million barrels last week. The US oil benchmark West Texas Intermediate (WTI) futures added 0.2% and is higher currently. Brent crude slid 0.4% to $106.80 a barrel on Wednesday.