- European indices finished today's session higher, with the DAX 30 rising roughly 1%, while CAC40 added 1.27%. UK market was closed due to a public holiday;
- Eurozone producer price inflation accelerated further to a new record high of 37.2% in April from 36.9% in March, suggesting inflationary pressures continue to build across the region;
- Upbeat moods prevail on Wall Street as well despite a weak start of the session. The Dow Jones added 0.51%. The S&P 500 gained 1.05%, while Nasdaq jumped 2.0% despite negative outlook from Microsoft and weak macroeconomic data;
- Shares of Microsoft slid about 1% as the company warned revenue and earnings this quarter would fall short of analysts’ estimates;
- Fed's Brainard said it is unlikely the central bank will take a break from its current rate hiking cycle anytime soon;
- ADP report showed private businesses hired 128K workers in May of 2022, the least since the job losses in 2020, while weekly jobless claims fell by 11k to 200k, from the previous week's revised level of 211k and below analysts’ estimates of 210k;
- Oil prices resumed upward move after yesterday's correction. WTI crude is currently trading around $116.80 per barrel, while Brent jumped above $117.70 per barrel;
- OPEC + agreed to raise output by 648,000 bps in both July and August, without announcing any extra increases to compensate for Russian oil fallout.
- Under EU sanctions existing insurance contracts on ships carrying Russian oil to be phased out within six months.
- The EU sanctions package includes immediate ban on new contracts to insure ships carrying Russian oil.
- AUD and NZD are the best performing major currencies while JPY and USD lag the most;
- Gold and silver strengthened on Thursday amid weaker dollar
- Cryptocurrencies moved slightly higher however volatility is rather limited compared to other markets. Bitcoin attempts to stay above $30,000, while Ethereum trades above $1800 level;
Bitcoin - despite today's rebound in the cryptocurrency market, price still remains under pressure from yesterday's declines. The $ 29,000 zone still acts as key support. Source: xStation5
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