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US indices finished yesterday's trading lower as US dollar strengthened following a much better-than-expected housing market data for May
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S&P 500 and Russell 2000 dropped almost 0.5%, Dow Jones traded 0.7% lower and Nasdaq dropped around 0.2%
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Indices from Asia-Pacific traded mostly lower today - S&P/ASX 200 dropped 0.4%, Kospi traded 0.8% lower, Nifty 50 traded flat while indices from China traded up to 2% lower. Nikkei was the outperformer with a 0.7% gain
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DAX futures point to a slightly higher opening of the European cash session today
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According to US President Biden, China is in position where it desires to resume good relations with the United States
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BoJ minutes showed that Japanese policymakers still see current monetary policy easing should be maintained and that there was no need to revise yield curve control mechanism
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Goldman Sachs made upward revision to its stock market forecasts and now expects S&P 500 to reach 4,700 pts mark within the next 12-months
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Meanwhile, Morgan Stanley is cautious on stock in the second half of 2023, citing fading fiscal support, less liquidity and lower inflation as main concerns
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Chinese financial media suggest that People's Bank of China may decide on further rate cuts this year
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ECB Simkus said that he would not be surprised if rates in the euro area were hiked in September
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ECB Vujcic warned that while Bank will continue to work to bring inflation down, soft landing is not always achievable
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China extended tax exempts for purchases of New Energy Vehicles (i.e. EVs) until the end of 2025 while taxes in 2026-2027 period will be cut in half
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Cryptocurrencies trade higher with Bitcoin jumping 2.4%, Dogecoin trading 2.2% higher, Ethereum adding 2% and Ripple moving 1.7% higher
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Energy commodities attempt to recover from yesterday's losses - oil trades 0.9% higher while US natural gas prices increased 0.2%
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Precious metals trade mostly lower - silver drops 0.1%, platinum declines 0.3% and gold trades flat
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NZD and CAD are the best performing major currencies while JPY and CHF lag the most
CHNComp is making a break below the 200-session moving average as indices from Asia-Pacific followed US peers lower. Source: xStation5
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