Global financial markets are still affected by Fed’s forecasts
Oil is rising again after falling on Thursday. Iran held governor elections last week, where the current president Hassan Rouhani lost his seat to Ibrahim Raisi, who is a supporter of harsh criticism of the West, and in particular, the United States. Raisi will take office in early August. The nuclear deal is under the threat of a breakdown, but Rouhani is trying his best to reopen negotiations and finalize the deal before leaving office.
As US Treasury yields stopped rising, the plunge in gold and silver came to a halt. Experts believe that the rise in yields was temporary and triggered by excess dollar liquidity, Treasury bond yields will fall, so gold, as the contrary instrument, will rise. Thus, there are good buying opportunities for investors now.
Asian stock markets are also falling. Japan’s Nikkei is down 3.3%, falling below 28,000 for the first time in a month. Australia’s ASX200 is down 1.81% in today’s trading session. The situation in the Asian market is now highly dependent on the movement of US indices. The People’s Bank of China kept the benchmark annual interest rate unchanged at 3.85%.
S&P 500 (F) 4,166.45 -55.41 (-1.31%)
Dow Jones 33,290.08 -533.37 (-1.58%)
DAX 15,448.04 -279.63 (-1.78%)
FTSE 100 7,017.47 -135.96 (-1.90%)
USD Index 92.32 +0.43 (+0.47%)
News feed for: 2023.07.04
- Australia Retail Sales (m/m) at 04:30 (GMT+3);
- China PBoC Loan Prime Rate at 04:30 (GMT+3);
- ECB President Christine Lagarde Speaks at 17:15 (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.
