Markets advance after Wall Street dipped again | IFCM Canada
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Markets advance after Wall Street dipped again - 5.3.2025

Markets advance after Wall Street dipped again
Ara Zohrabian
Ara Zohrabian
Senior Analytical Expert
Articles:978

Todays’ Market Summary

  • The Dollar weakening is intact
  • Futures on three main US stock indexes are up
  • Brent is edging lower currently.
  • Gold prices are edging higher currently

Top daily news

Global equity indexes are trading mostly up currently after Wall Street extended losses on Tuesday as more Trump tariffs took effect. Tesla shares plunged 4.43% underperforming market after data from the China Passenger Car Association showed that Tesla’s February wholesale number, which includes exports and retail sales, dropped 49% over year, Amazon shares slid 0.6% on Tuesday.

Forex news

Currency PairChange
EURUSD +0.2%
GBPUSD +0.2%
USDJPY -0.1%
AUDUSD +0.1%

The Dollar weakening is intact today. 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, ended 1.0% lower on Tuesday.

Both GBP/USD and EUR/USD continued their advancing yesterday as statistics office Eurostat reported euro area unemployment remained steady at 6.2% in January. Both Pound and euro are higher against the dollar currently. USD/JPY reversed its sliding while AUD/USD accelerated its climbing on Tuesday with both the yen and Australian dollar higher against the Greenback currently.

Stock Market news

IndicesChange
DJI +0.6%
NIKKEI +0.7%
HK50 +2.5%
AU200 -0.4%

Futures on three main US stock indexes are up currently with the yield on benchmark 10-year US notes down at 4.153%. Stock indexes ended lower on Tuesday recording daily losses in a range of -1.55% to -0.35% after new tariffs on Canada, Mexico and China took effect that triggered immediate 25% tariffs by Canada on US imports worth $30 billion Canadian dollars, and China imposed 15% tariffs on US agricultural imports.

European stock indexes futures are mixed currently after closing higher on Tuesday after the parties negotiating to form Germany's next government agreed to create a 500 billion euro infrastructure fund and overhaul borrowing rules. Asian indexes futures are mostly advancing today with Australia’s All Ordinaries ASX 200 Index defying the trend while US Commerce Secretary indicated that President Trump might be open to negotiations to resolve the escalating trade disputes.

Commodity Market news

CommoditiesChange
#C-BRENT -0.1%
OIL -0.1%

Brent is edging lower currently. Prices fell yesterday as OPEC+, the Organization of the Petroleum Exporting Countries and allies including Russia, decided on Monday to proceed with a planned April oil output increase of 138,000 barrels per day, its first since 2022. The Energy Information Administration (EIA) will release its US inventory data at 16:30 CET today. The US oil benchmark West Texas Intermediate (WTI) slipped 0.2% and is lower currently. Brent fell 0.8% to $71.04 a barrel on Tuesday.

Gold Market News

MetalsChange
XAUUSD +0.1%

Gold prices are edging higher currently . Spot gold accelerated its climbing on Tuesday: it rose 0.86% to $2917.85 an ounce.

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