Hello getquin,
today we have the ECB, inflation in the US and strikes in South Korea! Remember the challenge for this week and tag diligently @MarketNewsUpdate .
The new theme is:⚡ 𝙴𝚛𝚗𝚎𝚞𝚎𝚛𝚋𝚊𝚛𝚎 𝙴𝚗𝚎𝚛𝚐𝚒𝚎 𝚞𝚗𝚍 𝚄𝚗𝚝𝚎𝚛𝚗𝚎𝚑𝚖𝚎𝚗 𝚒𝚗 𝚍𝚒𝚎𝚜𝚎𝚖 𝙱𝚎𝚛𝚎𝚒𝚌𝚑⚡
𝗘𝘂𝗿𝗼𝗽𝗮🌍:
1. 𝘌𝘡𝘉 𝘣𝘦𝘴𝘵ä𝘵𝘪𝘨𝘵 𝘗𝘭ä𝘯𝘦 𝘧ü𝘳 𝘦𝘳𝘴𝘵𝘦 𝘡𝘪𝘯𝘴𝘦𝘳𝘩ö𝘩𝘶𝘯𝘨 𝘴𝘦𝘪𝘵 11 𝘑𝘢𝘩𝘳𝘦𝘯
The European Central Bank refrained from raising interest rates Thursday, but confirmed plans for a hike next month to fight inflation.
The bank announced it will raise borrowing costs by 25 basis points in July - its first rate hike in more than a decade - and said a larger increase could follow in September "if the medium-term inflation outlook persists or worsens."
"Inflation is undesirably high and is expected to remain above our target level for some time," ECB President Christine Lagarde said at a press conference.
More on the plans: https://cnn.it/3aUqwck
𝗔𝗺𝗲𝗿𝗶𝗸𝗮 🌏:
2. 𝘐𝘯𝘧𝘭𝘢𝘵𝘪𝘰𝘯 𝘪𝘯 𝘥𝘦𝘯 𝘜𝘚𝘈 𝘴𝘵𝘦𝘪𝘨𝘵
Consumer prices in the U.S. increased in May as gasoline prices reached record highs and the cost of services continued to rise. This suggests that the Federal Reserve may continue its 50 basis point rate hikes through September to combat inflation.
The consumer price index rose 1.0% last month after rising 0.3% in April, the Labor Department said on Friday. Economists polled by Reuters had expected a 0.7% monthly increase in the CPI. Gasoline prices skyrocketed in May, averaging $4.37 per gallon, according to AAA data.
Click here to read the article: https://reut.rs/3aHQxLK
𝗔𝘀𝗶𝗲𝗻 🌏:
3. 𝘚𝘵𝘳𝘦𝘪𝘬𝘴 𝘪𝘯 𝘚ü𝘥𝘬𝘰𝘳𝘦𝘢 𝘴𝘦𝘵𝘻𝘵 𝘨𝘭𝘰𝘣𝘢𝘭𝘦 𝘓𝘪𝘦𝘧𝘦𝘳𝘬𝘦𝘵𝘵𝘦𝘯 𝘦𝘳𝘯𝘦𝘶𝘵 𝘶𝘯𝘵𝘦𝘳 𝘋𝘳𝘶𝘤
With their days-long strike over high fuel prices, South Korean truck drivers have added to the strain on the world's already strained supply systems. At the port of Busan - which handles 80 percent of the export nation's shipping cargo - container traffic dropped to a third of normal levels Friday.
For the fourth straight day of strikes, it was just 20% at Incheon, while container traffic came to a complete halt at the port of Ulsan, the country's industrial heartland. Production at Hyundai's main plant had already been curtailed, and other companies, including steel giant Posco, had complained of delivery delays.
More on the strikes here: https://bit.ly/3zwMtbE
𝗤𝘂𝗮𝗿𝘁𝗮𝗹𝘀𝘇𝗮𝗵𝗹𝗲𝗻:
DocuSign $DOCU (-3.11%)
DocuSign posted 25% year-over-year revenue growth, but investors are increasingly concerned about profitability.
The stock fell later in the trading session, continuing its downward trend for the year.
EPS: 🟩 $0.46 expected vs $0.38 published; difference: -17.7%.
Revenue: 🟩 $581.85 million expected vs $588.69 million published; variance: 1.18%
𝗦𝘁𝗼𝗰𝗸𝘀 𝗼𝗳 𝘁𝗵𝗲 𝗱𝗮𝘆:
🟩 TOP $9901 (-1.44%) , 15,70 € (🔼 +13,77%)
🟥 FLOP $DOCU (-3.11%) , 64,53 € (🔽 -21,75%)
🟥 Most searched $AMZN (-0.87%) , 105,38 € (🔽 -3,90%)
🟥 Most traded $AMZN (-0.87%) , 105,38 € (🔽 -3,90%)
🟥 S&P500, 3,919.76 (🔽 -2.44%)
🟥 DAX, 13,753.06 (🔽 -3.14%)
🟥 $BTC (-0.78%) ₿, 28.087,65 € (🔼 +0,83%)
Time: 17:00 CEST
𝗙𝘂𝗻 𝗙𝗮𝗰𝘁:
Germany stashes second-largest gold hoard
More than two-thirds of Germany's foreign reserves are stored in the form of gold bullion. About half of the total of 3,378 tons is stored in the cellars of the Bundesbank in Frankfurt, the rest in the treasuries of the central banks of London and New York. Incidentally, only the U.S. gold reserve is heavier. It weighs more than 8,000 tons.