Inflation in the United States slows down. The Fed will not reduce the quantitative easing program
Gold prices increased in the US trading session yesterday. It is important to keep an eye on US government bond yields to predict gold prices. As long as the US Federal Reserve keeps printing money, this fundamental picture plays in favor of rising precious metals prices. But do not expect a strong rise, as gold does not have the same protective asset value now as it did before.
The International Energy Agency (IEA) lowered its forecast on global demand for the commodity this year. Demand for oil in China (the largest consumer of fuel) is declining due to restrictions. After the news, oil prices slightly decreased yesterday.
Most Asian stock indices continue to ignore record highs in the US stock market. The broadest index of Asia-Pacific stocks outside of Japan, the MSCI, decreased by 0.59%, Japan’s Nikkei 225 fell by 0.6%, and China’s CSI300 decreased by 0.21%. However, Australia’s ASX 200 index increased by 0.53% to a new record due to the growth of medical and technological companies. In Korea, shares of Samsung Electronics fell to a seven-month low due to concerns about lower revenue for the next quarter.
S&P 500 (F) 4,460.83 +13.13 (+0.30%)
Dow Jones 35,499.85 +14.88 (+0.04%)
DAX 15,937.51 +111.42 (+0.70%)
FTSE 100 7,193.23 -26.91 (-0.37%)
USD Index 93.01 +0.09 (+0.10%)
News feed for: 2023.07.04
- US Prelim Michigan Consumer Sentiment 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.
