- European indices finished today's session in green, following a big slump on Monday, with DAX closing 1.15% higher while CAC40 and FTSE100 rose 0.51% and 0.37% respectively mainly thanks to solid performance of financial sector;
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Wall Street swings between gains and losses - Dow Jones trades 0.35% higher while S&P500 and Nasdaq erased early losses and rose 1.00% and 2.0% respectively, despite the fact that hawkish FED, surging inflation, the war in Ukraine and Chinese lockdowns continue to weigh on market sentiment;
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Gold dropped below $1,850 an ounce extending a 3-week decline, while silver tested $21.40 amid stronger dollar;
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Brent crude futures tumbled nearly 3% to around $103-per barrel, while WTI price plunged below $100 per barrel;
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The dollar index remained near the 104 mark, the strongest in 22 years, while the 10-year US Treasury note bottomed around 2.95%;
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JPY and USD are the best performing major currencies while EUR and NZD lag the most;
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Germany's May ZEW economic sentiment unexpectedly rose to -34.3 from a 2-year low of -41 in the prior month;
Bulls became more active during today's session and major indices from US and Europe managed to bounce off the local lows. Nevertheless, the situation is still tense and continuation of the downward moves cannot be ruled out. The main indices from Wall Street are currently trading in positive territory, and the indices from the Old Continent have also posted gains today. Negative moods can be observed on the commodity market, where oil and gold took a hit. Major cryptocurrencies also managed to erase some of the recent losses, besides Terra which price dropped over 25%. Tomorrow investors’ attention will focus on the US inflation report for May which may provide further insights on the central bank’s rate-hike path.
AUDUSD pair is moving south for the 4th day in a row and broke below another major support at 0.6965, where January 2022 lows are located. If current sentiment prevails, the next target for sellers can be found around support at 0.6850 which is marked with previous price reactions. Source: xStaion5
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