Daily summary – Bulls are strong again but fight with inflation is far from over

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US indices continued gains on Friday and major indices are set for the 4th weekly gain in a row
Nasdaq is up more than 1.4% and S&P 500 is slightly above 1% gain
Traders further reduced bets on Fed raising rates. Currently, there is only 40% probability of 75 pb hike
UK GDP increased 2.9% YoY according to preliminary report which is higher than 2.8% YoY expected. On the other hand, GDP contracted 0.1% QoQ but it was higher than estimated loss of 0.2% QoQ
Preliminary University of Michigan Sentiment Index rose to 55,1 from 51,5 in July and it is highest in 3 months. Moreover, inflation expectations decreased to 5% over the year (from 5,2% in July) and long-term inflation expectations are slightly higher at 3% in comparison to 2.9% in July.
Export and import prices in the US decreased more than expected in July. Export Price Index decreased 3.3% MoM and Import Prices decreased 1.4% MoM
The drought in Europe is causing euro weakness in the end of the week. EURUSD is below 1.0300, when after inflation release the pair tested vicinity of 1,0400
However, Dollar index is set to print a weekly decline. Mary Daly said on Thursday that recent inflation data may indicate 50 bp hike in September, but of course the fight with inflation is not yet over.
The Swedish krona was the worst G10 currency today and lost about 1.5% on Friday as inflation was weaker than expected but still the highest in three decades. Lower inflation may lower a probability of further rates increases by Riksbank
Oil decreased more than 2% on Friday as oil flows from Russia to southern European countries are set to return today. Moreover, Iran said that it can accept European Union brokered nuclear deal if it receives some guarantees.
As greenback bulls has returned to the market on Friday, crypto market was losing its ground. Bitcoin fell for a moment below $24k

6 March 2026, 6:59 PM

Daily summary: Indices and crypto decline amid rising oil prices 🚩 Gold and the US dollar move higher

6 March 2026, 5:51 PM

Oil surges 11% amid escalating Middle-East conflict 📈VIX gains driven by fear on Wall Street

6 March 2026, 5:33 PM

BREAKING: Iran signals Europe will be 'a legitimate target' if EU joins war

6 March 2026, 4:17 PM

Wall Street tries to stop the deeper decline 🗽Marvell Technology jumps 10%

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