In April, the US year-on-year inflation rate slowed to 4.9%, slightly slower than Mitrade's estimates of 5.0%. Although rate hikes are still possible until meeting the inflation target, robust labor market data have eased investors’ concerns about a recession.
GBP/USD surged to 1.2673, before closing 6 pips higher at 1.2624. Later tonight, the Bank of England is expected to raise its interest rate by 25 basis points to 4.50%. EUR/USD added 20 pips to 1.0980, and AUD/USD increased 16 pips to 0.6778. USD/CAD slipped 7 pips to 1.3370, and USD/JPY fell 89 pips to 134.34.
US crude oil stockpiles added 2.95 million barrels, while the market anticipated a drop. WTI crude futures slid $0.90 to $72.56 a barrel. Spot gold declined $3 to $2,030.29 an ounce. Bitcoin and Ethereum fell to $27,577.0 and $1,831.31 respectively.
The Nasdaq 100 climbed 146 points to 13,347, and the S&P 500 advanced 18 points to 4,137. On the other hand, the Dow Jones Industrial Average dropped 30 points to 33,531.
GBP/USD surged to 1.2673, before closing 6 pips higher at 1.2624. Later tonight, the Bank of England is expected to raise its interest rate by 25 basis points to 4.50%. EUR/USD added 20 pips to 1.0980, and AUD/USD increased 16 pips to 0.6778. USD/CAD slipped 7 pips to 1.3370, and USD/JPY fell 89 pips to 134.34.
US crude oil stockpiles added 2.95 million barrels, while the market anticipated a drop. WTI crude futures slid $0.90 to $72.56 a barrel. Spot gold declined $3 to $2,030.29 an ounce. Bitcoin and Ethereum fell to $27,577.0 and $1,831.31 respectively.
The Nasdaq 100 climbed 146 points to 13,347, and the S&P 500 advanced 18 points to 4,137. On the other hand, the Dow Jones Industrial Average dropped 30 points to 33,531.