The Fed may reduce the QE program this year

Oil prices continue to decline. Quotes are near 3-month lows amid a stronger dollar and continuing concerns about demand forecasts due to the active spread of a new strain of coronavirus. But the supply level is still far behind the demand level, so analysts expect the growth of quotes to $80 per barrel in the mid-term.

The gold remains unchanged. As long as monetary policy remains soft, precious metal prices tend to rise. But as soon as the Federal Reserve announces it will begin cutting the QE program, gold and silver could fall heavily.

The Central Bank of Sri Lanka (CBSL) was the first in Asia to raise interest rates to curb inflationary pressures. The US Department of Transportation said it would limit passenger traffic on some Chinese carriers to 40% for four weeks after the Chinese government imposed similar restrictions on four United Airlines flights. Australia’s unemployment rate fell to 4.6% (previously 4.9%), as reducing the number of working hours and a decrease in the number of people looking for work softened the consequences of quarantine in Sydney.

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Dow Jones 34,960.69 -382.59 (-1.08%)

DAX 15,965.97 +44.02 (+0.28%)

FTSE 100 7,169.32 -11.79 (-0.16%)

USD Index 93.16 +0.03 (+0.03%)

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);
US Philadelphia Fed Manufacturing Index (m/m) at 15:30 (GMT+3);
US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
Natural Gas Storage (w/w) at 17:30 (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.