Global stocks rise as do US 2-year yields - 4.4.2022

The Dollar strengthening continues 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% on Friday after Bureau of Labor Statistics data showing US employers added 431,000 positions in March.

GBP/USD joined EUR/USD’s continued sliding Friday despite the Eurostat report euro area inflation accelerated more in March than expected. Euro is lower against the Dollar currently while Pound is up. Both AUD/USD and USD/JPY reversed their retreating Friday with the yen lower against the Greenback currently and Australian dollar higher still.

Futures on US equity benchmarks are up currently ahead of the US factory orders report today at 16:00 CET. US stocks ended higher on Friday while the Institute for Supply Management reported the US manufacturing sector's expansion slowed last month amid rising energy prices. the three main US stock benchmarks recorded daily gains ranging from 0.3% to 0.4% while 2-year Treasury yield exceeded the 10-year rate, forming a ‘yield curve’ inversion that could signal a recession.

European stock indexes are mixed currently after ending higher on Friday led by mining shares. Asian indexes are mostly up today with Hong Kong’s Hang Seng index leading gainers with markets in mainland China closed for a public holiday.

Brent is edging up today over persistent supply worries. Prices fell on Friday after members of the International Energy Agency (IEA) agreed to join in the largest-ever U.S. oil reserves release. However they did not agree on volumes or the commitments of each country at their emergency meeting. West Texas Intermediate (WTI) futures slid 1% but is higher currently. Brent crude slipped 0.3% to $104.39 a barrel on Friday.