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Is that the peak over there? That question for mountain climbers resonates with investors, who are eager to see where inflation reaches its limits. The longer the fog continues, the longer the bloodbath in markets. For the dollar, it is a boon. The greenback's next significant moves hinge on the Core Consumer Price Index (Core CPI) which is projected to have risen by 0.4% in April and 0.3% in March. That surprisingly low figure in the previous month fuels hopes for a lower read this time and a light at the end of the tunnel for stock traders. I will argue that this light is only a fleeting glimpse.

Russian President Vladimir Putin on Wednesday reiterated that he had no other option for the security of Russia than conducting the special military operation in Ukraine, reported Reuters. Ukraine could have had nuclear weapons in the foreseeable future and, backed up by Western powers, was planning aggression against Russia, Putin stated.

Russia's President Vladimir V. Putin has said that Kyiv is not serious about finding a mutually acceptable solution, according to Bloomberg. Markets have reacted negatively to the news, with stocks retreating from the highs and the safe-haven dollar and gold rising. Investors have been pinning their hopes on negotiations between Russia and Ukraine, which both sides said were making progress.