Market Overview - Page 107

Consumer inflation continues to gain momentum in the UK. Data for May showed that CPI accelerated to 9.1% y/y – a record among the G7 and a 40-year high. The monthly price growth rate was 0.7% compared to 2.5% and.

The US market opens later today after a long weekend. S&P500 futures indicate a 1.5% gain to Friday’s closing level, playing off the positive outperformance on the outside. The currency market has also swung towards buying risky assets, reinforcing hopes.

Despite attempts at rebounding equity markets, moderate pressure on gold has persisted for the third consecutive trading session. This pressure is directly linked to rising long-term bond yields on US debt and several other developed countries. Bonds and gold work.

Still no sign of a slowdown in German inflation. Fresh data marked a 1.6% rise in producer prices for May and an acceleration to 33.6% y/y, suggesting further upward pressure on consumer inflation in the coming months. The fresh batch.

Friday’s collapse added signs of oil’s reversal to a bear market. Brent losses exceeded 5% over Friday, and the pressure continued into Monday morning. Brent dropped more than 11% from the highs of June 8 to around $110, which was.

US stock markets updated multi-month lows on Thursday, pushing the S&P500 back to December 2020 and the Nasdaq back to November 2020 at one point. On Friday, before active US trading starts, we see the market attempting to form Friday’s.

In a surprise decision, the Swiss National Bank raised its key rate by 50 points to -0.25%, the first increase in the country in 15 years. The SNB commented on the decision that it does not rule out further rises..

The Fed raised the rate by 75 points, something it has not done in 28 years. Such a move had already been priced in. In fact, on the eve of the announcement, the markets had even factored a small probability.

Oil and gas took a massive hit during the New York trading session. Oil and gas fell sharply for different reasons, but in both cases, we could witness a bearish energy reversal after more than fivefold price gains from the.

Gold lost about 3% on Monday alone and touched $1809 at the start of trading on Tuesday. Yesterday’s sell-off provided us with four medium-term bearish signals on the daily timeframes. First, the daily candlestick completely absorbed Friday’s bullish momentum, clearly.

The S&P500 index fell 3.9% intraday on Monday, closing the index in the bear market territory. The Nasdaq collapsed more than 4.6%, losing a third of its all-time high in November last year. The dollar index closed above 105 on.

Oil fell symbolically over the past week, losing 1.3% to $116.3 a barrel of WTI amid trading in Europe on Monday. Locally oil looks like a solid defensive asset, with oil companies such as Exxon Mobil renewing record highs, attracting.