Market Overview - Page 83

Gold had made impressive moves yesterday before active trading in New York. Still, comments from Fed officials, combined with the release of relatively strong industrial production data, pushed the price back almost $30 to $1990, where it remains at the.

The UK labour market is deteriorating at an increasing rate. Data released this morning showed that jobless claims rose by 46.7k in April, following a 26.5k increase in March. Analysts had, on average, expected a rise of 31.2k. The unemployment.

China’s economic growth is falling short of economists’ expectations, putting pressure on the yuan and raising questions about the sustainability of the national and global economies. Industrial production rose 5.6% y/y in April, but the average forecast was 10.9% y/y.

WTI crude oil rebounded on Monday after three sessions of declines in the second half of last week. Oil found support just before the start of active trading in Europe after falling to a 10-day low of $69.40. Today’s pullback.

Eurostat today reported that eurozone industrial production fell by 4.1% in March, the most significant drop since July last year. Compared with the same month of the previous year, output fell by 1.4%, instead of the expected +0.9%, whereas, in.

The US import price index came in much better than expected, with a decline of 4.8% y/y in April against expectations of -6.3% y/y. Last month the index rose by 0.4%, the biggest increase since May 2022. The US is.

The Bank of England raised its key interest rate by 25 points to 4.5% on Thursday, marking the twelfth consecutive policy tightening. Two of the nine members have voted to keep rates on hold in the last four meetings. The.

While slowing inflation in the US and Europe is being greeted with relief by financial markets, weak figures from China are causing concern. China’s consumer inflation slowed to just 0.1% y/y in April, down from 0.7% the previous month and.

US consumer inflation slowed to 4.9%, just below the expected 5.0% and unchanged from the previous month. The initial market impulse was to sell the dollar and buy equities as the slowdown in price growth brings the end of the.

Gold showed very high volatility on Thursday and Friday, rising to $2081 and falling below $2000 in less than 48 hours. However, the price remained within the uptrend that has been in place since the second half of March. The.

German consumer inflation slowed to 7.2% y/y in April, Destatis said in its final estimate. The trend of decelerating price increases continues, although it remains well above the ECB’s target. March data for other price indicators point to further easing.

For the second month, the Dollar Index finds support from declines in the 101 area. Dollar bulls are defending critical levels in the major currency pairs, which could significantly increase the psychological pressure on the US currency. The resolution of.