Daily summary: Oil rebounds, stock markets waver

• 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