Investors are waiting for key data on inflation in the US today
The drug regulator in the EU will soon approve Regeneron-Roche drugs against COVID-19.
The European Union decided to partially suspend the visa facilitation agreement between the EU and Belarus due to the influx of migrants.
Yesterday, oil prices grew amid American Petroleum Institute (API) data on energy reserves in the US, which showed an unexpected decline of oil reserves in the US last week. Today, the US Department of Energy will release an official report on US crude oil and natural gas inventories. Usually, natural gas inventories are released on Thursdays, but tomorrow is a bank holiday in the US. So, the report will be published today.
The price of gold is trading near a two-month high due to declining US bond yields. Investors are waiting for key US inflation data today. Rising inflation could cause the US dollar to strengthen on the expectation that the US Federal Reserve will accelerate the pace of QE cuts. A rise in the dollar index will lead to higher government bond yields and lower gold prices.
China’s consumer inflation accelerated in October to its highest in 13 months since September 2020. The inflation rate reached 1.5% in annual terms. Experts predicted inflation at 1.4%. At the same time, China’s producer price index jumped to 13.5% in annual terms amid rising prices for coal and other raw materials used by power plants. That has been the highest level since 1996. Asia-Pacific stock markets are decreasing on inflation data in China. Japan’s Nikkei 225 index decreased by 0.61%, Hong Kong’s Hang Seng decreased by 0.98%, Shanghai’s Shanghai Composite lost 0.94%, and Australia’s ASX 200 decreased by 0.14%.
S&P 500 (F) 4,685.30 −16.40 (−0.35%)
Dow Jones 36,320.04 −112.18 (−0.31%)
DAX 16,040.47 −6.05 (−0.04%)
FTSE 100 7,274.04 −26.36 (−0.36%)
USD Index 93.98 −0.07 (−0.08%)
News feed for: 2023.07.04
- Canada BoC Gov Macklem’s Speech at 00:45 (GMT+2);
- China Consumer Price Index (q/q) at 03:30 (GMT+2);
- China Producer Price Index (q/q) at 03:30 (GMT+2);
- German Consumer Price Index (m/m) at 09:00 (GMT+2);
- US Consumer Price Index (m/m) at 15:30 (GMT+2);
- US Initial Jobless Claims (w/w) at 15:30 (GMT+2);
- US Crude Oil Reserves (w/w) at 17:30 (GMT+2);
- US Natural Gas Storage (w/w) at 19:00 (GMT+2).
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.
