World indices are declining due to worries about a slowdown in economic recovery
The situation in the oil market remains uncertain. On the one hand, the sharp decrease of Saudi Arabia’s selling prices for Asia and some European countries caused fears of a demand slowdown. On the other hand, good economic data from China and production disruptions in the US limit the decline. Analysts’ houses are still forecasting a rise in prices to $80 per barrel by the end of the year.
Gold prices dropped sharply yesterday amid a rise in the dollar index (+0.55%) and rising US Treasury yields (+1.39%). Gold prices are inversely correlated with these indicators. Pressure on prices is also triggered by concerns about the soonest reduction of the QE program, which will undoubtedly lead to a decline in precious metals prices.
China plans to open a new Beijing Stock Exchange. It was announced by the country’s leader Xi Jinping. He said that because of the reduction of opportunities for listing on American exchanges, Beijing will refocus on domestic opportunities, which will allow direct investment in promising technological companies. The news boosted shares of Chinese brokerage companies, but shares of companies on competitive exchanges declined. Many investors now fear that competition for the listing companies is inevitable.
Revised Japanese GDP growth data boosted the Nikkei index at the opening of trading on Wednesday. Most other indices opened lower. Australia’s main index ASX 200 decreased by 0.32%, China’s CSI300 blue-chip index decreased by 0.04% and Hong Kong’s Hang Seng index added 0.12%.
S&P 500 (F) 4,520.03 −15.40 (−0.34%)
Dow Jones 35,100.00 −269.09 (−0.76%)
DAX 15,843.09 −89.03 (−0.56%)
FTSE 100 7,149.37 −37.81 (−0.53%)
USD Index 92.55 +0.51 (+0.55%)
News feed for: 2023.07.04
- Japan GDP (q/q) at 02:50 (GMT+3);
- Canada BoC Interest Rate Decision (m/m) at 17:00 (GMT+3);
- Canada BOC Press Conference at 17:00 (GMT+3);
- Canada Ivey PMI (m/m) at 17:00 (GMT+3);
- US JOLTs Job Openings (m/m) at 17:00 (GMT+3);
- UK Inflation Report Hearings at 18:00 (GMT+3);
- US FOMC Member Williams’s Speech at 20:10 (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.
