Today in the US, part of the financial markets do not work due to the Juneteenth holiday - 19.6.2023

On Friday, the US dollar index rose slightly. Investors reacted positively to the increase in the preliminary indicator of the University of Michigan US Consumer Sentiment in June to 63.9 points. This morning the New Zealand dollar tried to strengthen due to the positive data of the BusinessNZ New Zealand Services Index (53.3 points). The NAHB/Wells Fargo Housing Market Index is due out today in the US. The prognosis is positive.

Bitcoin quotes remained almost unchanged on Friday. Now they are about $26,500. Investors positively perceive the beginning of the legal proceedings between Coinbase and U.S. Securities Exchange Commission. There are no signs of tightening cryptocurrency trading in the US yet. Altcoins BNB (Binance Chain) have risen in price by more than 8% in a week. Among the negative factors, one can note the possible closure of the Wyre payment crypto platform and the sale of its assets.

On the last day of last week, US stock indices corrected down after a multi-day increase. Prior to this, the S&P 500 rose 6 days in a row and updated a 14-month high. Over the past week, the S&P 500 has gained +2.6%, the Dow - +1.2% and the Nasdaq - +3.2%. Probably on Friday, investors began to take profits in shares of Microsoft Corp (-1.7%), which had previously updated all-time highs. This could lead to a general correction in the US stock market.

On Friday, oil rose in price for the 2nd day in a row. Investors do not rule out a revival of the Chinese economy and an increase in demand for oil after the People's Bank of China (PBOC) lowered a number of rates. This week (approximately June 20) he will decide on changes to his main rate - loan prime rates (LPR). Among the negative factors, one can note the reduction by Goldman Sachs of its forecast for Chinese GDP growth this year to +5.4% from +6% and to +4.5% from +4.6% in 2024. Oil and gas quotes are supported by data from oilfield services company Baker Hughes Co. Last week, U.S. oil rigs hit a low since April 2022 at 552. U.S. natural gas rigs hit a low since March 2022 at 130.

Natural gas in Europe corrected down to $365 per 1,000 cubic meters on ICE Dutch TTF. US gas quotes on Henry Hub rose to $2.63 mmBtu. In the US, demand for electricity for air conditioners increased amid hot weather. Natural gas is actively used to generate electricity.