The US economy is still far from the Federal Reserve’s core objectives
Yesterday’s Federal Reserve meeting showed that the regulator is ready to take action on monetary policy. There is no talk of raising the interest rate yet, but the Fed wants to cut the quantitative easing (QE) program in the next 3 quarters.
The oil price fell sharply during the US session yesterday. The main reason for the decline is a problem with oil demand in Asian countries, especially in India, which is the 3rd oil importer in the world. There was also information that Iran has made considerable progress in the negotiations with the UN concerning its nuclear activities, and this may lead to the lifting of sanctions from Iran, which in turn is associated with a possible increase in Iranian oil exports this year.
Gold prices are closely tied to the US Treasury bond yields. Yesterday’s announcement by the Fed Reserve about its plans to reduce the pace of bond purchases led to a sharp decline in gold prices. But the momentum is still upward.
Australia released employment data for April. The change was down to 36,000 jobs, and the unemployment rate fell to a year low of 5.5%. The ASX 200 Index was up by 0.88% yesterday.
S&P 500 (F) 4,115.68 -12.15 (-0.29%)
Dow Jones 33,896.04 -164.62 (-0.48%)
DAX 15,113.56 -273.02 (-1.77%)
FTSE 100 6,950.20 -84.04 (-1.19%)
USD Index 90.18 +0.43 (+0.48%)
News feed for: 2023.07.04
- Australia Employment Change (m/m) at 04:30 (GMT+3);
- Australia Unemployment Rate (m/m) at 04:30 (GMT+3);
- New Zealand Annual Budget Release (y/y) at 05:00 (GMT+3);
- ECB President Lagarde Speaks at 15:00 (GMT+3);
- US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
- Natural Gas Storage (w/w) at 17:30 (GMT+3);
- Canada BOC Governor Tiff Macklem Speaks at 18:00 (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.
