Market Comment | Softer US inflation further fuels Fed rate cut speculation

Summary

The US inflation and ongoing US-China trade frictions have been the main global market drivers today. Both of them have increased markets expectation of monetary policy easing.

Key points

• Key points:
• US CPI inflation in May came in below expectations.
• Uncertainty over whether Trump and Xi will meet at G-20 left investors unnerved.
• ECB’s official showed a dovish tone.

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