Market Overview - Page 45

Despite rising inventories, oil prices rose for the third trading session, driven by higher gas prices in Europe and reduced oil supply from US sanctions against Russia's shadow fleet.

The dollar's difficulty in rising could signal a reversal, but its upward trend is not broken yet, with support from Fed policy and strong macroeconomics.

This week, key events to watch for include Fed Chief Powell speaking to Congress, US CPI release, UK GDP estimates, and US retail sales.

Gold has been rising steadily, reaching all-time highs and showing a 2.5% gain in the past week. This is in contrast to other markets which have been more unstable. Silver, while still below its previous peaks, has also been performing well recently.

The Bank of England has cut its key rate by 25 points to 4.5% and suggested further cuts may be on the way, leading to pressure on the British pound. Market expectations are now for three more rate cuts this year.

German industry is showing signs of growth and improvement, with industrial orders and production increasing, offering hope for the Eurozone economy.

The latest ADP jobs report shows continued strong growth in the US labour market, with 183K new jobs created in the private sector. While manufacturing continues to suffer, the overall economy is resilient.

The new week will focus on the US labour market and the UK rate decision. On Tuesday, 4 February, the focus is on the new US job opening statistics. The indicator’s fall over the past two years was viewed with.

Gold has hit record highs, moving into territory above 2800. Strong buying following the November-December correction suggests the end of the correction phase and the beginning of a new growth cycle. A breakout to new highs activates a Fibonacci expansion.

US indices opened the week with a sharp collapse. The news media unanimously attributed this decline to the strong results of DeepSeek, a Chinese competitor of OpenAI’s ChatGPT. The news that a strong network can be trained on obsolete Nvidia.

The Federal Reserve left its key rate unchanged in the 4.25%-4.50% range at the end of its January meeting after three consecutive 100 basis point cuts. The markets expected this decision, so their attention was focused on signalling the prospects.

The German Consumer Climate Index declined, reflecting negative trends in income expectations and the desire to buy, which can be attributed to rising inflation.