Tuesday's Markets Update (June 13, 2023)

14 Jun 2023 by rate3

On Tuesday, inflation notably slowed, meeting traders' expectations. This resulted in NASDAQ (open: 13,566, close: 13,573) and BTC (open: 26,082, close: 25,902) ranging.

Details: Inflation slowed in May, with the core CPI (excluding food and energy) falling to 5.3% from 5.5% in April. Energy prices fell 11.7%, while food prices rose 6.7%. New vehicles, apparel, shelter, and transportation services all saw smaller price increases.

Other Markets Updates:

UK: the unemployment rate declined to 3.8% in April, but still below market expectations. Employment levels rose by 250,000 to an all-time high. Wages excluding bonuses rose 7.2%, the largest increase outside of the enclosure.

Spain: The core inflation rate fell to 6.1% in May, from 6.6% in April. This is the lowest level since May 2021.

Germany: The ZEW Economic Sentiment Index for Germany rose to -8.5 in June, from -10.7 in May. The index is still in negative territory, indicating that financial markets do not foresee an improvement in the economic situation during the second half of the year.