FXTrading.com’s Exclusive Market Insights for 31 May

It was the Memorial Day vacation in the US last night, so there’s not a lot to report today?

German inflation and Spanish CPI numbers came out last night -? German inflation is up 7.9% year-on-year (YoY), versus expectations of 7.6%, while Spanish inflation is up 8.5%, versus expectations of 8.3%.?

These figures are bound to push German bund yields higher.?

Crude oil continues to push higher, and the pattern is constructive for further gains. This is on the back of measures by the EU to impose an embargo on Russian oil - more than 2/3 of imports will be cut immediately.?

Bitcoin had a nice impulse move higher.? This has been a leading indicator for risk assets, and may point towards more index gains. Looks like we have put in a medium-term low here.?

Stocks to watch include Netflix, rare earth companies Lynas Rare Earth and Arafura Resources, as well as Emerson Radio Corp.

That’s the state of the market as of 31 May – FXTRADING.com hopes that these insights prove useful to its clients and followers.