Stocks down after rebound following Fed minutes - 26.5.2022

The Dollar strengthening has halted 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 0.2% Wednesday.

EUR/USD reversed its advancing Wednesday while GBP/USD reversed its sliding as the flash purchasing managers’ index (PMI) reading for the euro zone in May showed business growth slowed. Both Pound is lower against the Dollar currently while euro is little changed. Both AUD/USD reversed their climbing yesterday and USD/JPY reversed its sliding with the Australian dollar lower against the Greenback currently and yen higher.

The US stock index futures are down currently ahead of Bureau of Labor Statistics report on unemployment claims due today at 14:30 CET. The three main US stock indexes booked gains ranging from 0.6% to 1.6% Wednesday despite durable goods orders data showing the growth in manufacturing of big-ticket goods slowed more than forecast in April.

European stock indexes are mixed currently after ending higher Wednesday led by oil and gas shares. Asian stock indexes are falling today with Hong Kong’s Hang Seng Index leading losses.

Brent is extending gains currently. Prices advanced yesterday amid US Energy Information Administration report domestic crude stocks fell by 1 million barrels last week while US refiners boosted processing capacity use to 93.2%, its highest since December 2019. The US oil benchmark West Texas Intermediate (WTI) futures rose 0.5% and is higher currently. Brent crude added 0.4% to $114.03 a barrel on Wednesday.