Investors awaiting inflation data in Europe
Global GDP may grow by +5.3% in 2021 due to “radical” policy measures and successful vaccine introductions in advanced economies. But next year’s growth is likely to slow to +3.6%.
Precious metals prices have decreased. Gold fell by nearly 3% on Thursday, and silver lost 5% on the back of a stronger dollar index and US Treasury yields. Unless any geopolitical event occurs, the trajectory of gold and silver is unlikely to change before the FOMC meeting.
Oil is slightly down as US supplies affected by the hurricane are slowly getting back. On the other hand, oil is in a bullish trend and the upward trend in fuel prices is likely to continue because supply is seriously lagging far behind demand.
Asian tech stocks increased for the first time this week. Chinese stocks were mixed on the back of the China Evergrande Group debt crisis and the central bank’s short-term cash infusion. Hong Kong’s Hang Seng index increased by 0.23% after recording its lowest close in 10 months the day before. Australia’s ASX 200 index decreased by 0.8% as falling iron ore prices hurt mining companies. Chinese blue chips (CSI 300) increased by 0.58%, and Japan’s Nikkei 225 index increased by 0.62%, returning to a 31-year high reached on Monday.
S&P 500 (F) 4,473.75 −6.95 (−0.16%)
Dow Jones 34,751.32 −63.07 (−0.18%)
DAX 15,651.75 +35.75 (+0.23%)
FTSE 100 7,027.48 +10.99 (+0.16%)
USD Index 92.84 +0.30 (+0.32%)
News feed for: 2023.07.04
- UK Retail Sales (m/m) at 09:00 (GMT+3);
- Eurozone Consumer Price Index (m/m) at 12:00 (GMT+3);
- US Michigan Consumer Sentiment (m/m) at 17:00 (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.
