Inflation data worsened market sentiment again. Analysts expected that today’s reading may show some signs of easing price pressures. Indeed, inflation in April was slightly lower than in the previous month, but this is mainly due to a slightly smaller impact of transport prices. Other factors remained rather unchanged or even increased.
The contribution of new and used cars is slightly decreasing. Source: Macrobond, XTB
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Open account Try demo Download mobile app Download mobile appStock investors and investors from the cryptocurrency market expected that the worst may be behind us. However, inflation shows no signs of slowing down at all, which suggests that the Fed will remain on the current path of sharp interest rate hikes. As a result S&P 500 retreated to new local lows, around 3950 points.
Source: xStation5
Bitcoin drops below psychological $ 30,000 level and is testing key support around $29000. Should break below the local lows from the beginning of 2021 occur, the next major support is located around $20,000. Source: xStation5
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