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The dollar strengthened after PPI inflation data from the US. The data came in slightly above forecasts, the headline reading came in at 0.8% y/y against expectations of 0.7% y/y, with core inflation rising 2.4% against expectations of 2.3%.
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Yesterday's upward impulse on the EURUSD currency pair did not last long, Thursday's session ended with a D1 candle with a long upper shadow, which led to a deepening of declines today. The exchange rate of the main currency pair fell below 1.0950.
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Short-term support for market bulls was provided by the sentiment reading and inflation expectations of the University of Michigan. Annual inflation expectations came in at 3.3%, versus the expected 3.5% and the previous reading of 3.4%.
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The UK's GDP report and industrial production data came as a positive surprise, as GDP growth came in above estimates, and manufacturing data also surprised on the upside. The data may encourage the BoE to continue its cycle of interest rate hikes.
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USDJPY is testing this year's highs near the 145.00 barrier.
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Major stock indices from the Old Continent ended the session lower. Germany's DAX depreciated 1.03%, France's CAC40 lost 1.26%, and London's FTSE closed 1.24% below the dash.
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Worse sentiment is also observed on Wall Street, with only the Dow Jones posting slight gains in the evening hours, while the other indices traded lower.
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NATGAS clearly discounted on Thursday and Friday, wiping out much of the gains from earlier in the week. However, gas prices began to rebound after a Baker Hughes report indicated a decline in gas drilling rigs in the US.
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The Securities and Exchange Commission postponed its decision to approve a Bitcoin-based spot fund from ARK Investment Management. In the wake of the news, the quotations of the major cryptocurrency lost sharply, with BTC losing 0.5% on a daily basis.
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The crypto market remains in consolidation, with the major digital currencies weakening slightly today, which may be related to declines in the stock market. Nevertheless, the "trigger" for more volatility in the crypto market has been missing for more than a month, making further consolidation possible.
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