Global stocks up after Wall Street closes week down again - 6.6.2022

The Dollar weakening has resumed 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 0.3% on Friday as the Bureau of Labor Statistics reported US non-farm payrolls rose 390 thousand in May versus the 325 thousand consensus forecast.

Both EUR/USD and GBP/USD reversed their advancing Friday. Both Pound and euro are higher against the Dollar currently. AUD/USD reversed its climbing while USD/JPY reversed its advancing Friday with yen higher against the Greenback currently and the Australian dollar lower.

Futures on US equity benchmarks are up currently after US stocks ended solidly lower on Friday despite stronger than expected nonfarm payrolls report for May. The three main US stock benchmarks recorded daily losses ranging from 1.1% to 2.5% while unemployment remained at 3.6%, wage gains slowed, and services sector growth slowed.

European stock indexes are up currently after ending lower on Friday. Asian indexes are rising today led by Japan’s Nikkei index amid reports China’s service sector activity contracted in May.

Brent is edging down today while Saudi Arabia, the world's top oil exporter, raised July crude oil prices for Asian buyers to higher than expected levels. Oil prices ended higher on Friday while the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, on Thursday agreed to boost output by 648,000 barrels per day (bpd) a month in July and August rather than 432,000 bpd as previously agreed. West Texas Intermediate (WTI) futures rose 1.7% but is lower currently. Brent crude gained 1.8% to $119.72 a barrel on Friday.