China’s easing of Covid curbs and hopes that inflation in the US may be near its peak helped lift the mood for European markets today.
However, the prospect of stronger demand after China relaxed restrictions in Beijing and Shanghai left Brent crude at a three-month high above $120 a barrel.
US markets are closed for Memorial Day, having posted their best week since November 2020 on hopes that interest rates may not have to rise as fast as some had expected. The recovery in risk appetite helped Bitcoin return above $30,000 overnight.
