Stocks down after Wall Street retreat - 2.8.2022

The Dollar weakening 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, slid 0.4% on Monday.

GBP/USD joined EUR/USD’s accelerated advancing Monday despite Markit’s final report eurozone manufacturing sector contracted in July. Both pairs are down currently. USD/JPY accelerated its retreating yesterday while AUD/USD reversed its sliding with the yen higher against the Greenback currently and the Australian dollar lower.

Futures on three main US stock indexes are down currently ahead of the Job Openings and Labor Turnover Survey (JOLTS) data at 16:00 CET today with the yield on benchmark 10-year Treasury notes inching down to 2.555%.The three benchmark indexes recorded daily losses ranging from 0.1% to 0.4% on Monday as the Institute for Supply Management reported US manufacturing activity slowed less than expected in July, with signs that supply constraints are easing.

European stock indexes are down currently after closing marginally lower Monday as banks shares led gainers while oil and gas stocks led losses. Asian indexes futures are down today with Hong Kong’s Hang Seng index leading losses amid reports that both Taiwanese and US officials had said that House of Representatives Speaker Pelosi could visit the country this week.

Brent is extending losses currently. Prices ended sharply lower yesterday after weak manufacturing data in the United States, Europe and Asia. Also weighing on prices was a rise in Libyan oil production, which increased to 1.2 million barrels per day (bpd), up from 800,000 bpd on July 22. US West Texas Intermediate WTI dropped 4.8% and is lower currently. Brent fell 3.8% to $100.03 a barrel on Monday.