- Inflation PCE in the U.S. fell slightly more sharply than expected to 5,0% with 5,1% expected level and 5,4% previosly. The lower inflation confirms a good decision on the part of the Fed to raise rates by only 25 bps. In May we will see possible the last hike in the cycle
- On the other hand, EMU inflation is also falling. Inflation falls to 6.9% y/y from 8.5% y/y on expectations of 7.1% y/y. This is the result of a strong decline in Spain and a marked drop in Germany. Lower pressure in Europe and tightening credit conditions may also suggest a reduced hike at the next ECB meeting;
- EURUSD was mixed, losing in the first phase of the session and then gaining after the US releases, eventually falling to levels at 1.0850. Surprisingly, there was also a deterioration in sentiment according to the UoM. Inflation expectations point to a strong decline in inflation on an annual basis, although this will remain above the inflation target;
- Stock market indices were again doing well, although the gains were not as strong as in the last few sessions and did not exceed 1% in Europe and on most US indexes. Nonetheless, the Nasdaq 100, for example is up more than 1% today, and this is also the best quarter since 2020, even despite the recent banking crisis, which was more than made up for in the stock market
- Crypto extends the bullish momentum with Bitcoin above 28 000 USD level and higher Cardano prices because of possible Ethereum Virtual Machine integration;
- WTI crude oil continues to climb and is above $75 per barrel. OPEC+ has no plans to change policy, and OPEC itself reduced production in March compared to February.
- Gas prices jumped hard today, from the bottom it was up as much as 8%, TTF gained 10%. This is most likely the result of the realization of profits at the end of the month
- Next week will be extremely interesting due to the data, although at the same time volatility may fade due to the upcoming bank holidays.
Bulls on US2000 may want to test the main resistance zone, the SMA200 (red line) level of 1830 pt. The low cap American stocks index is up more than 1,3% today. Source: xStation 5
