Markets rebound after Wall Street selloff following disappointing jobs report - 4.8.2025

The Dollar strengthening has resumed presently. 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, slumped 1.25% on Friday after Labor Department reported weaker than expected July jobs data while job gains from June and May were cut by nearly 260,000 jobs.

GBP/USD joined EUR/USD’s accelerated climbing on Friday as statistics agency Eurostat reported euro area inflation remained stable at 2% in July instead of ticking down to 1.9%. Euro is lower against the dollar currently while Pound is up. AUD/USD reversed its retreating while USD/JPY reversed its climbing on Friday with Australian dollar higher still against the Greenback currently and the yen lower.

US stock indexes futures are up currently after Wall Street sold off on Friday after weak July jobs report. The three main stock benchmarks suffered daily losses in a range from -2.2% to -1.2% led by tech shares while president Trump fired Bureau of Labor Statistics Commissioner Erika McEntarfer hours after the agency reported much lower than expected job growth in the US. President Trump wrote on Truth Social “We need accurate Jobs Numbers. I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY.”

European stock index futures are up today after closing sharply lower on Friday led by bank shares. Asian stock indexes futures are mostly rising currently after president Trump’s executive order last week imposed new tariffs ranging from 10% to 41% on imports from dozens of countries, including Canada, Brazil, India and Taiwan. Hong Kong’s Hang Seng index is leading gains.

Brent is extending losses currently following agreement by eight countries of OPEC+ overnight to raise oil production by 547,000 barrels per day for September, the latest in a series of accelerated output hikes to regain market share. Prices ended $2 lower on Friday after weak July jobs report. US West Texas Intermediate WTI futures fell 2.8% and are lower currently. Brent lost 2.8% to $69.67 a barrel on Friday.