Many people are asking me about today's data, so I will give my opinion on...

1. Manufacturing PMI (May)

Current: 52.0

Projection: 52.3

Previous: 50.2

Although it came in a bit below the projection. It is not a very weak data point, but it also does not hinder the Fed if they want to cut rates.

2. ISM Manufacturing PMI (May)

Current: 48.5

Projection: 49.3

Previous: 48.7

This is indeed a weak data point. It came in below expectations and remains below 50, indicating a contraction in industrial activity in the U.S. A clear sign of deceleration, and this helps the Fed with a rate cut if they want to.

3. Powell's Speech

Powell's remarks in the coming hours will be crucial to understand if the committee is considering a rate cut or if they are still more concerned about inflation and that same old story from Powell.

…I am not an economist nor do I want to seem like one, but this data seems to me it could be used as an argument to start rate cuts as early as next month, especially if the upcoming inflation data (CPI, PCE) continue to indicate easing prices. Sounds good!