The US Treasury bond yields continue to decline, which plays in favor of the strengthening of major stock indices
In Europe (except the UK) there was a bank holiday yesterday. The markets were closed. Today, at the opening of the market, the European indices went up. In general, European indices are showing growth dynamics, despite the weak business activity and the GDP statistics of the main European countries.
The gold price is highly correlated with inflation data and Treasury bond yields. As long as the first is rising and the second is falling, which is the case right now, the price of gold and other precious metals will rise.
Negotiations to lift sanctions on Iran went nowhere for now. As a result, oil prices have skyrocketed again. Brent crude futures increased by 3% on Monday. Futures on West Texas Intermediate (WTI) crude oil rose by 3.9% to $66.13 a barrel in the previous session.
Amid the rising US indices, Japan’s Nikkei index rose by 0.6%, Australia’s AU200 index added 0.69%. Chinese stocks reached the highest level for the last two months, CSI blue-chip index jumped by 1.89%.
S&P 500 (F) 4,197.05 +41.19 (+0.99%)
Dow Jones 34,393.98 +186.14 (+0.54%)
DAX 15,437.51 0 (0)
FTSE 100 7,051.59 +33.54 (+0.48%)
USD Index 89.84 -0.18 (-0.20%)
News feed for: 2023.07.04
- Germany Business Climate (m/m) at 11:00 (GMT+3);
- US CB Consumer Confidence (m/m) at 17:00 (GMT+3).
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.
