“French and German CPI came in lower-than-expected but inflation across Europe remains well above the ECB’s target “, says Axel Rudolph, Chief Technical Analyst at investing and trading platform IG.
Dow joins S&P 500, Nasdaq 100 to hit fresh record
“US equity indices extended their gains with the Dow also hitting a new record as investors made the most of the AI-driven rally alongside falling oil prices. Both Brent and WTI – trading in the $90 per barrel region – are set for a monthly drop amid hopes of the Strait of Hormuz re-opening in early June. In Europe inflation data for its two largest economies came in lower-than-expected but remains well above the ECB’s target.”
All eyes on next week’s US non-farm payrolls
“With markets expecting the situation in the Middle East to de-escalate and the Strait of Hormuz to re-open next month, investors will focus on the US labour market, factory orders, manufacturing and services data for further insight into the strength of the US economy, potentially shaping expectations around the future path of Federal Reserve policy.”
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