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Indices from Wall Street pulled back during the first session after a long Memorial Day weekend. S&P 500 dropped 0.63%, Dow Jones moved 0.67% lower and Nasdaq closed 0.41% lower. Russell 2000 dropped 1.26%
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Mixed moods could be spotted during the Asian session today. Nikkei gained 0.5%, S&P/ASX 200 added 0.1% while indices from China traded lower
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DAX futures point to a higher opening of the European cash session
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US President Joe Biden said that he respects and strongly believes in Fed independence and that he will give Fed Chair Powell space to act
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US Treasury Secretary Yellen admitted she was wrong about the path inflation would take. Yellen said that Fed
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Russian Foreign Ministry Lavrov met with his Saudi counterpart to discuss cooperation within OPEC+
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According to UK Times, UK Treasury told Bank of England to be prepared to bail out a systemically important stablecoin if its collapse would endanger financial stability
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Official Chinese manufacturing PMI jumped from 46.0 to 48.1 in May (exp. 48.6)
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Australian GDP growth in Q1 2022 reached 0.8% QoQ (exp. 0.6% QoQ)
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Cryptocurrencies are pulling back - Bitcoin drops 0.3% while Ethereum trades 0.7% lower
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Oil pulls back. Brent drops 0.6% while WTI trades 0.5% lower
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Precious metals drop amid USD strengthening. Palladium is an exception as it gains 0.2%
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AUD and USD are the best performing major currencies while JPY and NZD are lagging the most
Australian dollar is the best performing G10 currency today, following the release of a better-than-expected Q1 GDP report. AUDJPY is continuing a recovery move launched after a failed attempt of breaking below the Overbalance structure. Source: xStation5
