The US indices continue to rise. Investors are waiting for positive inflation statistics
In the United States, the struggle against the monopoly of IT giants is around the corner. On Friday, President Joe Biden called on the Federal Trade Commission and Justice Department to set stricter rules on mergers that would make it harder for big tech companies to take over their smaller competitors.
WTI crude futures slightly decreased during the US session. But considering the background of expected further reduction of oil reserves in the US, the fundamental situation is in favor of rising prices. The price is also influenced by growing fears of increased cases of delta strain infection in Asia and the uncertainty of OPEC+ countries’ production plans.
Positive inflation data could trigger the rise in prices for the US government bonds, which, in its turn, could reduce gold and silver prices (inverse correlation). Gold and silver are trading inside the price ranges now, which makes it difficult to find good entry points, but today it is better to stay away from trading precious metals.
The Asian market is following the American one. Japanese and Chinese indices increased to their highest levels in the last two weeks. But the growth of indices is constrained by the worsening epidemiological situation in Asian countries. Also, this week the central banks of Japan, New Zealand, and South Korea are expected to announce their interest rates and that makes investors more cautious.
S&P 500 (F) 4,384.75 +15.20 (+0.35%)
Dow Jones 35,000.39 +130.23 (+0.37%)
DAX 15,790.51 +102.58 (+0.65%)
FTSE 100 7,125.42 +3.54 (+0.05%)
USD Index 92.24 +0.11 (+0.12%)
News feed for: 2023.07.04
- US Consumer Price Index (m/m) at 15:30 (GMT+3);
- US Core Consumer Price Index (m/m) at 15:30 (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.
