CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Daily summary: Global equities finish the week higher, USD pared today’s gains

18:44 28 May 2021
  • Global stocks push higher

  • Core PCE for April above expectations

  • EURUSD returns above 1.2200

Most European indices were in the green on Friday thus ending the trading week in upbeat mood. The German DAX added 0.74% while the French CAC 40 rose 0.75%. Major indices from the region closed higher for the whole week as well. Wall Street is gaining ahead of a long weekend in America and stocks are heading for a winning week too. Tech stocks are top gainers at press time while small caps are underperforming. 

Today’s calendar was dominated by a set of economic data from the US. The long-awaited core PCE inflation for April came in above expectations (3.1% YoY vs exp. 2.9% YoY), rising at the highest pace since 1992. Chicago PMI for May soared to 75.2 (vs exp. 68.0) which is the best result since 1973. 

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Cryptocurrencies experience a significant drop on Friday with Bitcoin falling roughly 8%. The US dollar gained before the US inflation data, but the greenback has already pared all gains. EURUSD returned above 1.2200 in the evening. Meanwhile, gold bulls are testing $1900 an ounce. 

Traders should prepare for thinner volume on Monday as investors from the US and the UK will have time off due to holidays. Apart from that, markets look forward to PMI figures from China for May, industrial production data from Japan and several CPI prints from European countries, including Germany, Italy and Spain. 

EURUSD was falling ahead of today’s US inflation figures as the US dollar was strengthening against major currencies. However, the greenback pared all gains and EURUSD is trading near 1.2200 again. As a result, the main currency pair is trading in an upward channel again. Source: xStation5

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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