Market Overview - Page 109

Crude Oil has added 3% on Monday after finding support late last week as expectations of a meeting between the US and Saudi leaders did not materialise. The much-anticipated and much-discussed meeting between Biden and Mohammed bin Salman took place.

Although US retail sales figures are often the more important news, their slight overshooting relative to expectations has, in our view, less impact on markets than the import price index. According to preliminary estimates, US sales rose by 1% in.

The Chinese economy is experiencing a sharp slowdown, raising a reasonable doubt that GDP will be able to grow by the initially planned 5.5% this year. Fresh data showed that China’s economy was only 0.4% higher in the second quarter.

Yesterday’s US inflation data spurred market expectations that the Fed will raise rates by 100 points at the end of July, although about a month ago, Powell called a 75-point increase abnormal. The revision in expectations for monetary policy of.

US consumer inflation hit a 41-year high and beat forecasts, reaching 9.1% y/y in June against 8.6% a month earlier and expected an increase to 8.8%. The data above expectations triggered a jump in the dollar and renewed pressure on.

Oil lost more than 10% in just over 24 hours, starting to decline late in the day on Monday. WTI crude fell to $91.30 as it sold off. Having lied on the way down stop orders, oil at one point.

A new package of UK macro statistics showed some recovery and exceeded expectations, supporting pound buying, although it did not help the stock market. The monthly economic growth is estimated at 0.5% in May after a decline of 0.2% in.

The price of gold fell to a new nine-month low on Tuesday, at one point falling below $1725. In the region of $1720-1740, gold has been finding support in the declines of the last 15 months, and the daily charts.

The euro is one hair from parity with the dollar, a psychologically important line above which the single currency has been trading for the last generation. After losing more than 4% over the week, the EURUSD looks excessively and emotionally.

Bitcoin was down 2.5% on Monday and, continuing its decline on Tuesday morning, was back at $20,000. Ethereum has lost 5.2% in the past 24 hours to $1090. Altcoins in the top 10 fell from 1.1% (XRP) to 5.2% (Solana)..

WTI crude oil has been losing 3.5% since trading on Monday, bouncing back below $100 after rebounding late last week. A stronger dollar and the return of a cautious tone to financial markets as the week begins indicate that downside.

The dollar index is making new highs, rising to 107.6 on Friday afternoon, and by the start of active trading in Europe, trading at 107.45. This is the highest rate since October 2002. The dollar index has added about 20%.