Market Overview - Page 112

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.

GBPUSD is trading near 1.2250, losing about 3% in the last four trading sessions. Pressure on the pound intensified on Monday, releasing a disappointing set of statistics. Monthly estimates showed the economy shrinking by 0.3% for April, contrary to expectations.

The US consumer price index accelerated by 8.6% in May from 8.3% a month earlier. The new data exceeded expectations, rebutting hopes that US inflation is already slowing. Today’s inflation report is the last big release before the Fed meeting.

As expected, euro buyers’ optimism faded immediately after the ECB press conference began, returning EURUSD back below 1.0600. Shortly after the initial surge in reports of an actual reversal in ECB policy, investors and traders delved into assessments of how.