- Today, investors learned a lot about key data from the US economy. Overall, the data came mixed, with slight slowdowns visible in some sectors/regions and decidedly better data in others.
- Job market data turned out worse than expected, with the Jobless Claims report showing 262k new benefits last week compared to the forecasted 250k and 262k previously.
- Regional indicators were mixed, with the NY Empire State at 6.6 against the expected -15.1 and -31.8 previously. Meanwhile, the PhillyFED survey was close to analysts' expectations at -13.7 compared to -10.4 previously.
- Retail sales data turned out better than market expectations, with month-on-month sales increasing by 0.3% m/m against the expected -0.1% and +0.4% previously.
- Industrial production for May fell -0.2% m/m compared to a rise of +0.5% m/m previously.
- The European Central Bank raised interest rates by 25 basis points, in line with market expectations. The ECB's decision was made with a very broad consensus of ECB members. During the press conference, ECB President Lagarde emphasized that the ECB has not ended its tightening cycle, and a hike in July is highly likely.
- EURUSD is gaining momentum after the ECB's decision, with the rate managing to rise above the round level of 1.0900.
- European stock indices ended the session mixed, with DAX losing 0.13%, while CAC40 closed the day 0.5% lower, on the other hand, the London FTSE100 closed in the green. Our Polish WIG20 also pleasantly surprised us, with gains reaching just over 1%.
- DAX (DE30) remains close to historical records, the index again struggled today with resistance at 16,300 pts, the crossing of which can catapult the course to new highs.
- US stock indices continue to rise, with Dow Jones performing best on Thursday, where the upward move exceeds 1%.
- Commodities are rising today, which is related to the weakness of the US currency. On gold, a pro-growth hammer candle formation is being built on the daily interval.
- The price of a barrel of WTI oil has returned above $70 and is approaching $71, while Brent costs almost $76, both varieties gained more than 3% today.
- The cryptocurrency market is deepening its declines today, BTC loses the least - 0.35%, followed by ETH 0.56%. Altcoins are losing again decidedly more - from a few to even several percent, MATIC is quoted -8% lower.
Cryptocurrencies do not share the optimism visible in the stock market. Bitcoin is trying to break key support in the regions of $25300, resulting from the previous maximum and the lower limit of the 1:1 arrangement. Source: xStation5.
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