Memorial Day is celebrated in the USA today. - 29.5.2023

On Friday, the US dollar index reached a new high since mid-March but then experienced a slight correction and ended the trading session with minimal changes. The U.S. Personal Consumption Expenditures (PCE) Price Index in April was 4.4% YoY, which exceeded expectations. The increase in consumer spending could heighten the risk of further inflation. Two other American economic indicators assessing consumer activity, Durable Goods Orders, and University of Michigan Consumer Sentiment, turned out positive on Friday. Today in the United States, the holiday Memorial Day is being celebrated. The activity in European financial markets is likely to be minimal due to the observance of the Spring Bank Holiday in the UK and Pentecost Monday in the EU, Germany, and Switzerland.

Bitcoin prices have been trading within a range of approximately $30,500 to $26,500 for the past 10 weeks. Overall, this could be seen as positive, as amid the stagnation of the cryptocurrency market, almost all countries are developing and approving regulations for its governance.

On Friday, oil prices increased. Investors responded positively to the extension of the U.S. debt ceiling and the increased activity of American consumers. Overall, oil prices are rising in anticipation of the OPEC+ meeting on June 4, where further production cuts may be decided. Oil prices are also supported by the announcement from oilfield services company Baker Hughes that the number of active drilling rigs in the United States decreased to a 12-month low of 570.

In Europe, natural gas on the ICE Dutch TTF fell to $260 per 1000 cubic meters but has since slightly corrected to $280. The main reason for this could be the relatively slow replenishment of European gas storage facilities intended for winter use. American gas prices at Henry Hub also declined to $2.43 per million metric British thermal units (mmBtu). The recent minimum and a strong support level for gas prices are at $2.