-
Wall Street indices launched today's trading higher as lower-than-expected US CPI print for April boosted hopes that Fed won't raise rates further
-
US CPI inflation slowed from 5.0 to 4.9% YoY in April (exp. 4.9% YoY) while core gauge slowed from 5.6 to 5.5% YoY (exp. 5.5% YoY)
-
Market odds for a FOMC June rate hike dropped to 0% after CPI data for April
-
However, post-CPI gains on Wall Street were quickly erased and now major US indices are trading 0.3-0.8% lower. Nasdaq bucks the trend and gains 0.2%
-
European stock market indices finished today's trading slightly lower. German DAX dropped 0.37%, UK FTSE 100 moved 0.29% lower and French CAC40 declined 0.49%.
-
CNBC reported that US Department of Justice is looking into short selling in regional banking shares during recent turmoil in the sector
-
ECB President Lagarde said that central bank still has more ground to cover
-
ECB Nagel said that there is still a lot of work to do on core inflation and that ECB could have gone for a bigger rate hike last week
-
ECB Centeno said that he expects policy to remain tight for some time and that rate cuts could begin at some point during 2024
-
Bloomberg reported that some ECB members begin to think that a rate hike in September may be needed as well
-
SNB Chairman Jordan said that Swiss monetary policy is not yet restrictive enough and inflation remains above price stability range
-
Official US report showed an unexpected 2.95 million barrel build in oil inventories (exp. -1.6 mb). Distillate inventories dropped 4.17 million barrels (exp. -0.8 mb) while gasoline inventories were 3.17 million barrels lower (exp. +1.2 mb)
-
Final German CPI data for April came in at 7.2% YoY, matching flash release
-
Major cryptocurrencies were trading lower today with Bitcoin being 0.9% down, Ethereum trading 1% lower and Ripple dropping 0.9%
-
NZD and JPY are the best performing major currencies while CAD and AUD lag the most
GOLD surged after US CPI data release but was also quick to erase those gains later on (orange circle). Decline have been halted however and now we are observing buyer's attempt to push precious metal's price back above $2,032 price zone. Source: xStation5
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
