- JOLTS fell sharply below 10 million, showing that the US labor market is beginning to weaken. After that, we saw a lot of price reactions. Weaker macro reading from US weighed negative on major indices sentiments;
- EURUSD rose near the 1.10 level, with the dollar index losing about 0.5%. Gold not only rose above $2,000, but even broke through $2020 per ounce, recording an almost 2% increase. Silver tested $25 by testing $25 per ounce
- GBP was one of the stronger currencies against the dollar and, like the yen, gained more than 0.6%
- However, data showing a weakening economy negatively impacted Wall Street, where declines on the S&P 500 are already over 0.6%. The Russell 2000 is losing the most, where declines exceed 2.0%.
- On the other hand, good sentiment prevailed in Europe, although gains were reduced during the afternoon session. DAX exceeded the 15600 level
- Eurozone PPI inflation came in slightly below expectations, but still remains in double digits at 13.2% y/y. On a monthly basis, it fell by 0.5% m/m
- Interest rates in Australia were kept unchanged. The announcement suggests that this is the end of rate hikes, significantly weakening the AUD today, which lost more than 0.7% to the USD
- Tomorrow, during the Asian session, we will know the RBNC decision. Another slowdown in hikes is expected, this time to 25 basis points
- The weather in the U.S. is changing significantly, with a marked warming in the coming weeks, which will likely end the heating season in the U.S. Gas tested the area of $2.0 per MMBTU again
- Crude oil is losing slightly today, again capping yesterday's gains. WTI is trading near $80 and Brent just above $84 per barrel. The reason of that could be also recession concerns.
- Crypto market sentiments are still mixed with Bitcoin slightly above 28 000 USD level. Dogecoin has a problem to maintaint bullish momentum after yesterday euphoric gains.
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