Indices from Wall Street pulled back during the first session after a long Memorial Day weekend. S&P 500 dropped 0.63%, Dow Jones moved 0.67% lower and Nasdaq closed 0.41% lower. Russell 2000 dropped 1.26%

Mixed moods could be spotted during the Asian session today. Nikkei gained 0.5%, S&P/ASX 200 added 0.1% while indices from China traded lower

DAX futures point to a higher opening of the European cash session

US President Joe Biden said that he respects and strongly believes in Fed independence and that he will give Fed Chair Powell space to act

US Treasury Secretary Yellen admitted she was wrong about the path inflation would take

Russian Foreign Ministry Lavrov met with his Saudi counterpart to discuss cooperation within OPEC+

According to UK Times, UK Treasury told Bank of England to be prepared to bail out a systemically important stablecoin if its collapse would endanger financial stability

Official Chinese manufacturing PMI jumped from 46.0 to 48.1 in May (exp. 48.6)

Australian GDP growth in Q1 2022 reached 0.8% QoQ (exp. 0.6% QoQ)

Cryptocurrencies are pulling back – Bitcoin drops 0.3% while Ethereum trades 0.7% lower

Oil pulls back. Brent drops 0.6% while WTI trades 0.5% lower

Precious metals drop amid USD strengthening. Palladium is an exception as it gains 0.2%

AUD and USD are the best performing major currencies while JPY and NZD are lagging the most

Australian dollar is the best performing G10 currency today, following the release of a better-than-expected Q1 GDP report. AUDJPY is continuing a recovery move launched after a failed attempt of breaking below the Overbalance structure.