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US open: Stocks tumble as inflation unexpectedly rises
Stocks are set for a steeply lower start after the keenly awaited CPI data showed that inflation unexpectedly rose in May to 8.6% YoY a fresh 40 year high.
Two trades to watch: GBP/USD, Oil
GBP/USD rises despite PM Boris Johnson facing a vote of no confidence. Oil prices rise as Saudi Arabia hikes prices.
Two trades to watch: DAX, Gold
DAX holds steady as Russia cuts gas supply to Poland, Bulgaria. Gold trades under pressure on USD strength.
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Two trades to watch: EUR/USD, Oil
EUR/USD rises towards 1.10 ahead of the Fed rate decision. WTI crude oil rises after 11% declines in 2 days.
US open: Futures fall as jump in oil stokes stagflation fears
US stocks point to a weaker start after oil prices rise over $120, fuelling stagflation fears.
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