- European indices finished today's session mostly higher with Dax advancing 0.52%% amid solid performance of the technology stocks;
- Germany's Chancellor Scholz said relationship with Russia can't return to what it was before the war;
- EU Energy Chief Simson said if considered necessary, the EU may call an urgent conference of energy ministers to discuss gas supply;
- EU Energy will propose measures to curtail demand in July
- US indices swing between gains and losses on Monday. Dow Jones trades 0,10% higher, S&P500 is flat while Nasdaq fell 0.40%;
- S&P expects that GDP growth will slow to just 1.6%, well below estimated potential growth rate of around 2%, given continued higher prices and forecasts a low-growth recession in 2023;
- FED Dallas' index for manufacturing in Texas declined to -17.7 in June from -7.3 in May, remaining the lowest since May 2020;
- Pending home sales in the US unexpectedly increased 0.7% mom in May, the first rise in seven months, and beating market forecasts of a 3.7% fall;
- US durable goods orders went up for the third consecutive month, indicating that business spending plans remain strong despite higher interest rates and inflation;
- Oil price managed to erase early losses and WTI jumped above $109 per barrel, while Brent rose to $111,50, as G7 leaders vowed to stand with Ukraine "for as long as it takes'' and discussed a price cap mechanism on Russian oil and are looking for further ways to lower Kremlin's ability to fund its war in Ukraine;
- OPEC+ trimmed its estimate of oil surplus in 2022 to 1 mbpd from previous 1.4 mbpd;
- Gold fell to major support at $1825 despite weaker dollar, while silver rose slightly and trades above $21.20 level;
- EUR and CHF are the best performing major currencies while AUD and JPY lag the most;
- Bitcoin fell slightly below $20,700 and Ethereum return below $1200 as SEC chairman Gensler again warned on fraud and manipulation on the market which makes approval of spot bitcoin ETF very unlikely in the near future;
Ripple's price failed to uphold last week's momentum and bounced off the resistance at 0.3735. Nevertheless, looking at the H4 interval, today's downward move was halted at 0.3460, which acts as major support in the short term. This level is marked with the EMA50 and previous price reactions. 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.
