Indices from the Asia-Pacific region gained during today’s cash trading. Nikkei jumped 2%, S&P/ASX 200 moved 1.3% higher and Kospi added 1%. Indices from China traded mixed

US index futures are trading higher with S&P 500 futures trading around 50 points above Friday’s cash close

European index futures point to a slightly higher opening of the cash session on the Old Continent today

RBA minutes showed that the Bank sees need for more rate hikes at the coming meetings

RBA Governor Lowe said in a speech that 25 bp or 50 bp rate hike will be considered for July meeting. However, Lowe has cooled some market expectations by saying that he sees cash rate at 4% by year-end as a rather unlikely scenario

Goldman Sachs now sees a 30% chance of US recession in the next 12 months, up from 15% in the previous forecast. According to Goldman Sachs, risk of recession in the next 2-year horizon increased from 35% to 48%

Nomura expects the US economy to enter an extended recession this year. First GDP contraction is expected in Q4 2022

South Korean exports increased 11% YoY in the first 20 days of June. Semiconductor exports were 1.9% YoY higher while exports to China dropped 6.8% YoY

Cryptocurrencies trade higher with Bitcoin approaching a $21,000 area and Ethereum climbing back above $1,100

Oil gains amid a broad improvement in moods on the global markets. WTI trades 1% higher and tests $110 per barrel area. Brent gains 0.7% and tests $115 area

In spite of a US dollar weakness, precious metals trade mixed – gold and silver drop while platinum and palladium gain

CAD and GBP are the best performing major currencies while NZD and CHF lag the most

Australian dollar gained after RBA minutes hinted at a need for more rate hikes. However, part of those gains was trimmed after a speech from Governor Lowe who said that expectations of a cash rate at 4% at year’s end are rich. Nevertheless, AUDNZD continues to trade in a recovery move following a successful defense of the lower limit of a local market geometry.