US S&P 500 futures are lower by 0.35% this morning and Nasdaq futures are lower by 0.65% as investors eye the CPI number set to be released at 8:30 am. EU markets are trading mixed, near the flat line, following yesterday weak close. The EURSX50 is lower by 0.06% and the German DAX is higher by 0.25%. Asian markets closed their overnight session mixed as well, the NIKKEI lost 1.61%, the Hang Seng gained 0.78% and the CSI 300 gained 0.43%. The dollar index is higher this morning, trading at 90.31 versus majors, up 0.18% as investors stay put ahead of the CPI number. Gold and Silver are trading marginally lower this morning, Gold trades at $1,833 per ounce, down 0.14% and Silver trades at $27.23 per ounce, down 0.55%. Oil prices are higher this morning ahead of the Inventories numbers, OIL is at $66.16 per barrel, up 1.35% as OPEC says it expects world demand to rise by 5.95 bpd this year, as forecasted a month ago, and growth in US and China overweight the slowing India demand. The API is projecting a fall of 2.5 million barrels in US inventories, slightly less than expected.
US CPI at 8:30 am and Oil Inventories at 10:30 am are the important news on the agenda Wednesday, (all times EST).
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Both the EURSX50 and Nasdaq 100 futures are trading near the flat line ahead of the CPI number this morning.
OIL trades higher this morning as OPEC projects strong demand for June and the rest of 2021.
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