Risk markets hinged on the May US CPI release which came in a lot cooler than expected, although core inflation remained high, with signs that the Fed will pause at its next FOMC meeting now solidifying.
Wall Street lifted alongside European stocks while the USD fell back slightly as Pound Sterling and Euro found new life. Meanwhile the Australian dollar pushed through the 68 cent level but moderated in later trade to be just below this morning.
In bond markets, US Treasury yields lifted higher across the board as the 10 year finished above the 3.9% level while oil prices lifted slightly on the print, with Brent crude finishing just above the $74USD per barrel level. Gold however was one of the weaker undollars and slumped down to the $1940USD per ounce level.
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