Equities down as bond yields, commodities gain - 2.22

The Dollar is on backfoot 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, slid 0.2% on Friday while Markit reported flash Manufacturing PMI declined to 58.5 for February from 59.2 in January.

Both EUR/USD and GBP/USD continued climbing Friday despite UK Office for National Statistics report UK retail sales dropped 8.2% over month in January after 0.47% growth in December while Germany’s composite PMI reading came in at 51.3, up from 50.8 in January, with readings above 50 representing an expansion. Both are higher against the Dollar currently. AUD/USD accelerated its rising Friday while USD/JPY speeded up its sliding with Australian dollar higher against the greenback currently while yen is down.

Futures on US equity benchmarks are down currently after ending mixed on Friday as President Biden again called for Congress to enact his US$1.9 trillion rescue package. The three main US stock benchmarks recorded returns ranging from -0.2% to +0.1%.

European stock indexes are edging lower currently after ending up on Friday led by basic resources shares. Asian indexes are mostly lower with Nikkei index leading the gains while China urged US to lift trade restrictions and stop ‘undermining’ its internal affairs.