News

BlockBeats News, May 28th: The US April PCE data will be released at 8:30 pm UTC+8 tonight. The market generally expects the year-on-year increase in April PCE to rise to 3.8%, higher than the previous value of 3.5%, potentially reaching a nearly three-year high. The core PCE year-on-year rate is also expected to increase slightly to 3.3%. With the energy price shock yet to dissipate and service industry inflation still sticky, if the data confirms the accelerated spread of inflation, the Fed's return to a hawkish stance will receive strong support. Currently, the CME Group's "FedWatch" tool shows that although the market believes rates will remain unchanged in June, the probability of a rate hike before the end of the year is significantly increasing. Looking ahead, Goldman Sachs believes that it will take time for inflation to cool down, expecting the core PCE to remain around 3% in 2026, while overall inflation for this year will stay below 4%.

London Metal Exchange (LME) lead inventories surged by 10%, reaching their highest level since 2013.

Russian state oil pipeline transport company Transneft announced that Russia will expand Kozmino port's oil loading capacity to 50 million tons per year.