On June 19, global stock markets reached a new high, driven by the rise in tech stocks. NVIDIA (NASDAQ: NVDA), a manufacturer of AI chips, became the world's most valuable company. However, due to weak U.S. retail sales data, the dollar's rise paused, hinting at a potential rate cut this year.

The MSCI World Index rose 0.15% to 805.12 points, reaching a historical high of 805.43 points.

On June 18, a surge in U.S. tech stocks propelled NVIDIA past Microsoft (NASDAQ: MSFT), leading to a rise in Asian chip manufacturers' stock prices.

U.S. stock index futures also rose, with the tech-dominated NASDAQ 100 Index up 0.23%, the S&P 500 Index up 0.1%, and Europe's STOXX 600 Index down 0.1%.

The pound rose as data showed the UK’s inflation rate in May reached the Bank of England's 2% target for the first time since 2021.

The decline in inflation is good news for UK Prime Minister Rishi Sunak and the Bank of England, but it may not be enough to turn the tide for Sunak in next month's election or to convince the central bank to cut rates on June 20.

Lombard Odier analyst Samy Chaar stated, "A 2% inflation rate in the UK compared to a 2.7% rate in the U.S. (using PCE) is not disruptive to the market. This justifies action from the Bank of England by August at the latest, with the Federal Reserve likely following suit in September."

The pound has fallen about 0.2% this month, recently trading at $1.2728, up 0.15%, while the euro rose 0.1% to $1.0747 but is still down 1% for June.

Since French President Emmanuel Macron's defeat to the far-right in the European Parliament elections last week, the euro has been under pressure.

On June 19, U.S. markets were closed, resulting in overall low market volatility.