Investing.com – European stock markets are expected to open “green” on Wednesday, rallying at the start of the new month. Investors will primarily analyze upcoming PMI data, focusing on activity in the key manufacturing sector amid concerns over the impact of higher prices.
Investing’s economic calendar and real-time quotes will guide you through the most important events of the day!
1. Cryptocurrency Quote: Cardano Loses Yesterday’s Profits
The cryptocurrency market has no clear direction on Wednesday. It is trading at $31,594, $1,933, $44,803, and $0.6036.
2. Forex: the zloty stable this morning
Yesterday we met more. In the region, the Bank of Hungary raised interest rates by 50 basis points. The current level of 5.9% is the highest level of interest rates in our region. The Polish government has extended the inflation shield and markets will also be watching the Bank of Canada’s decision.
The Polish zloty is quoted as follows: i 4.5838 and 4.2802.
See: Currency Commentary – Inflation Remains a Threat
See: dollar up; investors bet on a more aggressive monetary policy
3. Mixed session in Asia, so far in the red in Europe
Major Asian indices are mixed today. increased by 0.4%, in Hong Kong it lost 0.6% and depreciated.
As for Wall Street, the market ended yesterday in negative. The closes of the S&P 500 (-0.6%), (-0.4%) and Jones (-0.6%) stand out.
In Europe, he announces positively open up and grow. ends the session down (-0.7%). Shares of Orange Polska, Cyfrowy Polsat and Lotos (WA:) gained the most, while CD Projekt (WA:), PGNiG (WA:) and mBank fell.
See: Good or bad news – stocks are up either way
See: Why Bear Markets Always “Fool” Investors
4. Macro events – follow the calendar of financial events
Data on the PMI in the Polish manufacturing sector in May turned out to be negative:
ECB President Christine Lagarde will make an appearance this Wednesday at 1:00 p.m. CET, and attention is focused on whether she will reveal details of the upcoming interest rate meeting next week. However, the agency is expected to raise interest rates when it is next appointed in July.
Fabio Panetta (5.15 p.m.) and Philip R. Lane (5.30 p.m.) – members of the ECB will also speak.
At 4:00 p.m. Polish time, the Bank of Canada will announce its decision on interest rates. An increase of 50 basis points to 1.50% is expected against 1.00% previously.
In this way, Canada would follow the general trend of the world’s major central banks to tighten their monetary policy.
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5. Stabilized quotations
Oil prices stabilized on Wednesday, and are still supported by the European Union’s decision to significantly reduce oil imports from Russia. China has ended the COVID-19 blockade in Shanghai.
The Wall Street Journal reports that some Gulf members have begun planning for increased production over the next few months, limiting gains.
“The expectation of increased supply in the market, even after Russia shuts down, could fuel some of this selling,” Stephen Innes, managing partner at SPI Asset Management, said in the memo.
is expected to release its weekly US crude oil supply estimates later in the session.
Prices increase by 0.58%. Yesterday, quotations rose by 1.31%, permits by 0.04%.
Will Biden’s $2 trillion energy plan turn the market into a supercycle? The green revolution “creates opportunities for this product and related actions.
See: lost the worst in 3 weeks. It bends under the pressure of the dollar