Markets advance as US steel and aluminum tariffs took effect - 4.6.2025

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, rose 0.5% on Tuesday.

Both EUR/USD and GBP/USD reversed their climbing yesterday while statistics office Eurostat reported the euro zone inflation eased to a cooler than forecast 1.9% in May, below the European Central Bank’s 2% target. Both Pound and euro are higer against the dollar currently. AUD/USD reversed its advancing while USD/JPY reversed its sliding on Tuesday with the yen lower still against the Greenback currently and Australian dollar higher.

Futures on three main US stock indexes are up currently ahead of the Automatic Data Processing, Inc Non-Farm Employment Change report at 14:15 CET with the yield on benchmark 10-year US notes down at 4.45%. Stock indexes ended higher on Tuesday recording daily gains in the range from 0.5% to 0.8% while the Organization for Economic Co-operation and Development’s (OECD) cut its global growth forecasts, downgrading US growth forecast to 1.6% from 2.2% this year.

European stock indexes futures are rising currently as talks between European Commissioner for Trade Maros Sefcovic and US Trade Representative Jamieson Greer started today in Paris. Indexes closed marginally higher on Tuesday. Asian indexes futures are mostly rising today with Hong Kong’s Hang Seng index leading gains.

Brent is up currently. Prices extended gains yesterday amid reports wildfires burning in Alberta, Canada have affected more than 344,000 barrels per day of oil sands production, or about 7% of the country’s overall crude output. The US oil benchmark West Texas Intermediate (WTI) gained 1.4% and is higher currently. Brent rose 1.5% to $65.63 a barrel on Tuesday.