Spreadex Market Update

Asian shares were mixed overnight



Asian shares were mixed overnight following Chinese CPI data. Inflation accelerated in May to the fastest pace in four months on higher food costs, despite the drop in factory-gate prices. The CPI figure came in at 2.5%, exceeding the 2.4% expected. Despite the positivity in China, Japanese stocks dropped amid a stronger yen, hurting exporters. 

European markets are set to open slightly lower, calling the FTSE down 14 to 6558. UK manufacturing data is scheduled to show a decrease in production from last month at 09:30, forecasting a decrease to 0.4% versus 0.5% in May.

Gold held above the lowest level in four months, gaining for the second time in three sessions as lower investor confidence in Europe boosted demand for the safe haven. The global price of Crude traded higher, with WTI influenced by speculation crude inventories will decline for a second week in the US. 

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