- After yesterday's mixed session on Wall Street, US and European index futures are trading slightly higher today. The US100, US500 and US30 are up in the 0.2--0.3% range. Germany's DAX is trading 0.3% higher. Investors are mainly waiting today for ISM data from the US service sector (3 PM BST)
- Japanese benchmarks have had a very weak session, with the Nikkei cheapening by 1.1% and the Topix nearly 1.5%. The Korean KOSPI fared much better, gaining 1.2%. Chinese indices also gained slightly, with the Hang Seng up almost 0.4%.
- Australia's ASX index opened the session flat and closed the session up almost 0.5%. Australia's Q1 GDP data indicated a 1.1% y/y increase versus 1.2% forecast and 1.5% previously. On a quarterly basis, GDP rose 0.1%, compared to expectations of 0.2% (0.2% previously). Final ISM services for May indicated 52.5 versus 53.1 forecasts and 53.6 previously. AUDUSD is trading up a modest 0.1% today
- A strong Caixin PMI services reading from China did not translate into market 'euphoria', although the data suggested a significant improvement and came in at 54 versus expectations of 52.5 and 52.5 previously. Retail sales in the Singapore region, however, came in far weaker than forecasts suggested, falling -1.2% y/y vs. 1.9% growth forecasts and 2.7% previously. On a month-on-month basis, the decline was -2.7%, previously -1%. Fitch Ratings expects China's insurance sector to do better in 2024
- Brent crude oil is gaining just over 0.3% today and is trading above $78 per barrel. Yesterday's API data suggests a strong increase in crude inventories (up 4 million barrels vs. over -6.5 million previous decline) and gasoline (up 4 million vs. -0.5 million previously). NATGAS is trading slightly higher. WTI crude is down for 6 consecutive sessions
- Cryptocurrencies continue to perform solidly, with investors paying in the range of $71,000 for Bitcoin. EURUSD is trading flat, with contracts on the dollar index (USDIDX) posting a small 0.06% gain
- Jake Sullivan stressed that although Biden will soon meet with Zelenski in Normandy, the US has no plans to deploy troops to Ukraine
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
