Inflation in the Eurozone increased to a ten-year high
Amid the return of millions of employees from remote work to offices, shares of video conferencing service Zoom fell by more than 15% after the company signaled an earlier-than-expected decline in demand. Investors now expect the Q3 report period will not be so profitable as the previous ones.
It took nearly a month for gold to recover from a sharp drop in prices that had occurred at the beginning of August. At the end of the month, the price closed at +0.3%. And as far as the Fed puts off the cutting of the QE program, growth is likely to continue.
Aluminum reached its highest level in a decade due to high demand and concerns that China may cut production in an effort to reduce energy consumption and emissions.
According to the American Petroleum Institute, oil inventories fell by 4.045 million barrels last week, which was higher than analysts expected. Today, the OPEC+ meeting will be held, and the crude oil reserves data will be released. Volatility in oil prices will jump. Yesterday, Kuwait’s oil minister suggested that OPEC+ might decide to postpone plans of increasing production by 400,000 barrels per day. However, most analysts and refiners expect OPEC+ to stick to its plans to increase oil production gradually.
China’s recovery has slowed. The corporate growth has almost stopped, and the service sector is contracting. It is negatively affecting the dynamics of major Asian indices. Australia’s GDP increased by 0.7%, but economists are confident that we will witness more consequences of COVID-19 restrictions.
S&P 500 (F) 4,522.68 −6.11 (−0.13%)
Dow Jones 35,360.73 −39.11 (−0.11%)
DAX 15,835.09 −52.22 (−0.33%)
FTSE 100 7,119.70 −28.31 (−0.40%)
USD Index 92.66 +0.11 (+0.12%)
News feed for: 2023.07.04
- Australia GDP (q/q) at 04:30 (GMT+3);
- Germany Manufacturing PMI (m/m) at 10:55 (GMT+3);
- Eurozone Manufacturing PMI (m/m) at 11:00 (GMT+3);
- UK Manufacturing PMI (m/m) at 11:30 (GMT+3);
- Eurozone Unemployment Rate (m/m) at 12:00 (GMT+3);
- US ADP NonFarm Employment Change (m/m) at 15:15 (GMT+3);
- Canada Manufacturing PMI (m/m) at 16:30 (GMT+3);
- US ISM Manufacturing PMI (m/m) at 17:00 (GMT+3);
- US Crude Oil Reserves (w/w) at 17:30 (GMT+3);
- OPEC+ Meetings (All day).
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
