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American indices continue to rise. The US500 has a chance for annual records and the US100 for the highest closing since April last year in anticipation of inflation and the Fed's June decision.
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Bank of America's CEO Moynihan said that the Fed could take a pause but it would be irresponsible to say the hiking cycle is done.
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NY Fed survey concerning inflation expectations showed that one-year inflation expectations fell to 4.1% vs 4.5% and May year ahead expected inflation is lowest since May 2021.
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According to Moody, peak policy rates are near, but more monetary policy tightening is likely.
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WTI oil fell today to the lowest level since early May. The reason is a large supply coming from Russia and Iran, which balances the cut from Saudi Arabia. The biggest bull in the oil market - Goldman Sachs is losing hope and lowers the target price for Brent to around 85 USD per barrel at the end of the year.
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EURUSD revises today's session gains and falls from around the 1.0800 level to the 1.0750 level. The ECB is expected to raise rates by 25 bp this week and announce further moves.
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In terms of US inflation, even a possible drop below 4% is expected, which could lead to the end of the Fed's rate hike cycle.
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Inflation in Japan for May came out at 5.1% y/y, significantly lower than the expected 5.5% y/y. USDJPY rebounded today.
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Uncertainty about the Binance exchange and the stability of Binancecoin continues. Bitcoin is still trading below 26k USD.
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Gold has been consolidating in recent sessions between 1940 and 1980 USD per ounce.
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Gas started the week with a gap up due to new forecasts indicating significant heat in Texas in the second half of June and heat in almost all of the United States in the summer. However, the price closed the gap and continued to fall.
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