InvestMacro

By JustMarkets 

At the close of the US stock market on Thursday, the Dow Jones Index (US30) decreased by 0.33%, and the S&P 500 Index (US500) lost 0.60%. The NASDAQ Technology Index (US100) fell by 0.80% yesterday. Sentiment for risky assets, including stocks, worsened due to recent economic data showing further weakness in manufacturing and an increase in jobless claims. The weaker data exacerbated fears of a deeper economic slowdown at a time when the Federal Reserve continues to be inclined to raise rates further.

FOMC spokeswoman Mester indicated yesterday that she was pleased with the progress made but pointed out that inflation remains too high. In Mester’s view, interest rates should move a little further into restriction territory, and the degree of further tightening depends on economic and monetary policy assessments. Philadelphia Fed President Patrick Harker warned Thursday that US interest rates are likely to rise further and stay that way longer, even if economic activity weakens. The current probability of a 0.25% rate hike at the next Fed meeting is 81%.

Tesla (TSLA) stock is down by 11% after the electric carmaker reported earnings that fell short of Wall Street expectations. The company’s margins declined because of a recent string of price cuts. Concerns about margins intensified after CEO Elon Musk announced further spending cuts to boost sales. Shares of AT&T Inc (T), a major component of the Dow Jones Index, fell more than 10% amid concerns about the company’s ability to meet its forecasts and mixed quarterly results suggesting earnings missed estimates.

Stock markets in Europe were mostly down yesterday. German DAX (DE30) decreased by 0.62%, French CAC 40 (FR40) lost 0.14%, Spanish IBEX 35 (ES35) fell by 0.46%, and British FTSE 100 (UK100) closed Thursday up by 0.05%.

ECB President Christine Lagarde hinted that the ECB would not stop fighting inflation. The March minutes of the ECB’s monetary policy meeting indicated that policymakers have not yet decided on the size of the rate hike at the next meeting, but given the latest Eurozone inflation data, there is a high probability that the ECB will raise the rate by 0.5% in May.

The French government has outlined a plan to accelerate debt reduction, which will require the government to make unpopular spending cuts. The budget deficit will be smaller than previously forecast. But it should be noted that raising the minimum retirement age by two years has greatly reduced support for the current government and strengthened opposition parties that reject budget cuts.

Oil prices fell about $2 a barrel to their lowest level since late March. Fears that a possible recession could reduce demand for fuel, as well as an increase in gasoline inventories in the US, are negative factors for oil prices.

Asian markets traded flat yesterday. Japan’s Nikkei 225 (JP225) gained 0.18%, China’s FTSE China A50 (CHA50) fell by 0.85%, Hong Kong’s Hang Seng (HK50) gained 0.14% on the day, India’s NIFTY 50 (IND50) added 0.03%, while Australian S&P/ASX 200 (AU200) was down by 0.04% on the day.

The Bank of Japan is eyeing the idea of changing its controversial bond yield control policy later this year but is likely to leave policy unchanged at next week’s meeting as it awaits new evidence of sustained wage growth. Kazuo Ueda will hold his first meeting as governor on April 27-28, and his appointment has heightened expectations that the bank will begin to roll back its ultra-soft settings.

S&P 500 (F) (US500) 4,129.79 −24.73 (−0.60%)

Dow Jones (US30)33,786.62 −110.39 (−0.33%)

DAX (DE40) 15,795.97 −99.23 (−0.62%)

FTSE 100 (UK100) 7,902.61 +3.84 (+0.049%)

USD Index 101.82 −0.15 −0.15%

• – Australia Manufacturing PMI (m/m) at 02:00 (GMT+3);
• – Australia Services PMI (m/m) at 02:00 (GMT+3);
• – Japan National Core Consumer Price Index at 02:30 (GMT+3);
• – Japan Manufacturing PMI (m/m) at 03:30 (GMT+3);
• – UK Retail Sales (m/m) at 09:00 (GMT+3);
• – Eurozone Manufacturing PMI (m/m) at 11:00 (GMT+3);
• – Eurozone Services PMI (m/m) at 11:00 (GMT+3);
• – UK Manufacturing PMI (m/m) at 11:30 (GMT+3);
• – UK Services PMI (m/m) at 11:30 (GMT+3);
• – Canada Retail Sales (m/m) at 15:30 (GMT+3);
• – US Manufacturing PMI (m/m) at 16:45 (GMT+3);
• – US Services PMI (m/m) at 16:45 (GMT+3).

By JustMarkets

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

By George Prior

The war between Russia and Ukraine and the impact it has on global grain exports – which feeds billions each day – highlight the urgent need for mobilizing private funding to ensure food security, warns the CEO of one of the world’s largest independent financial advisory, asset management and fintech organisations.

The call-to-action from deVere Group’s chief executive, Nigel Green, comes as Citi Research reveals that Ukrainian grain harvests and exports this year could be down as much as 50% on pre-war levels.

Meanwhile, the April 2023 edition of the Agricultural Market Information System (AMIS) Market Monitor shows the gradual decline over the past 10 months of global grain and oilseed prices to levels prior to the war in Ukraine.

Both Russia and Ukraine were among the top producers of grains in the world before the start of the war in February 2022.

“Russia’s invasion of Ukraine – and the pandemic before it – has underscored the fragility and complexity of the world’s food supply on which billions of people live every day,” says Nigel Green.

“We expect that pressure will grow on the global food supply in the coming decade due to population growth, rising incomes in developing countries, disruption triggered by heightening geopolitical tensions, social unrest, labour shortages, soaring fertilizer costs, conflicting trade policies, and climate change.

“The current food crisis is, we believe, set to become the worst in a decade, meaning years of progress against poverty and hunger are being wiped out.”

He affirms: “We expect that over the next five years, rising food insecurity is likely to become a defining issue of our time.”

With so many variables, degrees of severity, and situations developing unexpectedly, governments alone will not be able combat the worst effects of human-triggered climate change.

“Governments are best-positioned to develop, implement and manage policy, incentives, standards, metrics and regulations. And, yes, they must also provide top-level funding,” says the deVere Group CEO.

“But due to the tens of trillions likely to be needed for structural changes to global food systems, there will remain a major funding gap if we rely solely on the public sector.”

This is especially true as governments are still stretched with the unprecedented financial fallout of the Covid pandemic, for which no country was prepared and that upended economies globally.

Therefore, says Nigel Green, it is “essential to enable, unlock and mobilize private capital as a matter of urgency.”

To do this, the deVere CEO suggests that we need “cooperation between financial advisories, insurance firms, banks, wealth and asset managers, investment companies, fintech groups, banks and auditors, amongst others, to help unlock and mobilize the trillions of dollars of private finance that is urgently required.

“Without this, the level of funds required will simply not be there.”

The World Food Programme on its website notes that, “The scale of the current global hunger and malnutrition crisis is enormous, with an expected 345.2 million people projected to be food insecure – more than double the number in 2020.  This constitutes a staggering rise of 200 million people compared to pre-COVID-19 pandemic levels… Unless the necessary resources are made available, lost lives and the reversal of hard-earned development gains will be the price to pay.”

Nigel Green concludes: “A combination of factors including war, economic upheaval and climate change means that urgent private finance inflows are essential to ensure greater levels of global food security and stability.”

About:

deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.

By JustMarkets

At Wednesday’s US stock market close, the Dow Jones Index (US30) decreased by 0.23%, while the S&P 500 Index (US500) lost 0.35%. Technology Index NASDAQ (US100) gained 0.03% yesterday. Stock indices remain under pressure due to recession fears and rate hikes. At the same time, the reporting season so far shows no signs of confidence.

On Wednesday, Tesla (TSLA) reported first-quarter earnings below Wall Street estimates. The company’s stock was down by 2%. A drop in semiconductor stocks also hurt technology companies, as ASML Holdings (ASML) shares fell by 3% after reporting a 46% drop in first-quarter net orders as buying demand remains low. Meta Platforms Inc (META), though not reporting yesterday, saw its shares fall by 1% after the company announced a new wave of job cuts as the drive to cut costs continues.

Stock markets in Europe were mostly up. Germany’s DAX (DE30) gained 0.08%, France’s CAC 40 (FR40) added 0.21%, Spain’s IBEX 35 (ES35) increased by 0.77%, and the British FTSE 100 (UK100) closed down by 0.13% on Wednesday.

ECB spokesman Lane said yesterday that if inflation in the Eurozone remains stable, he will vote for further rate hikes. These comments coincide with other comments from ECB officials. The inflation rate in the Eurozone was unchanged compared to the previous month. The consumer price index amounted to 6.9% year-on-year, while core inflation remained at 5.7%. Such data increases the likelihood of an additional 0.5% rate hike at the next ECB meeting.

Inflation in the UK has been above 10% for the seventh month in a row. This has been an important week for the UK economy, starting with yesterday’s employment report, which confirmed the difficult situation in the labor market in the UK. Against this backdrop of the labor market and inflation data, analysts predict that the Bank of England will raise interest rates by another 25 bps next month with almost 100% probability.

The Swiss National Bank’s recent 0.5% interest rate hike is still slowing inflation to just 2% in forecasts, said Andrea Maechler from the SNB, suggesting that additional tightening may be needed. Economists now expect the SNB to give another quarter-point hike, bringing the discount rate to 1.75%.

Crude oil inventories in the United States declined last week at the fastest pace in three weeks. But that hasn’t helped oil prices, which have already lost 4% since the start of this week. There are signs of a significant weakening in global demand for fuel, along with a drop in manufacturing activity. Normally oil prices rise in the run-up to summer on the back of increased travel demand, but at the moment, this is not happening.

Asian markets were mostly down yesterday. Japan’s Nikkei 225 (JP225) decreased by 0.18%, China’s FTSE China A50 (CHA50) was 0.74% lower, Hong Kong’s Hang Seng (HK50) fell by 1.37% by the end of the day, India’s NIFTY 50 (IND50) was 0.23% lower, while Australia’s S&P/ASX 200 (AU200) was 0.07% positive by Wednesday. Asian indices continue to decline, following weakness from Wall Street, as worries about rising interest rates and slowing economic growth made traders cautious about risk-oriented assets.

The People’s Bank of China kept interest rates at 3.65%. But Chinese indices did not get much support for this decision.

S&P 500 (F) (US500) 4,154.52 −0.35 (−0.0084%)

Dow Jones (US30)33,897.01 −79.62 (−0.23%)

DAX (DE40) 15,895.20 +12.53 (+0.079%)

FTSE 100 (UK100) 7,898.77 −10.67 (−0.13%)

USD Index 101.95 +0.20 +0.20%

• – New Zealand Consumer Price Index (q/q) at 01:45 (GMT+3);
• – US FOMC Williams Speaks at 02:00 (GMT+3);
• – Japan Trade Balance (m/m) at 02:50 (GMT+3);
• – China Loan Prime Rate (m/m) at 04:15 (GMT+3);
• – German Producer Price Index (m/m) at 09:00 (GMT+3);
• – Eurozone Account Monetary Policy Meeting at 14:30 (GMT+3);
• – US Initial Jobless Claims (w/w) at 15:30 (GMT+3);
• – US Philadelphia Fed Manufacturing Index (m/m) at 15:30 (GMT+3);
• – US FOMC Member Waller Speaks at 15:45 (GMT+3);
• – US Existing Home Sales (m/m) at 17:00 (GMT+3);
• – US Natural Gas Storage (w/w) at 17:30 (GMT+3);
• – Canada BoC Gov Macklem Speaks at 18:30 (GMT+3);
• – US FOMC Member Bowman Speaks at 22:00 (GMT+3).

By JustMarkets

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

By JustMarkets

The Dow Jones Index (US30) decreased by 0.03% at Tuesday’s close of the stock market, while the S&P 500 Index (US500) added 0.09%. NASDAQ Technology Index (US100) lost 0.04% yesterday. Concerns about interest rate hikes have returned to the markets in recent sessions as hawkish signals from Fed officials and signs of some resilience in the US economy have created uncertainty about when the Fed will suspend its rate hike cycle. Traders expect the Federal Reserve to raise rates by 25 basis points at its May meeting and bring the rate to a restrictive level of 5.25%.

Goldman Sachs Group Inc (GS) shares fell more than 1% after the broker reported first-quarter earnings that fell short of expectations triggered by the sale of consumer loans at its Marcus consumer business. Bank of America (BAC) reported increases in both the top and bottom lines, driven by a 25% jump in net interest income. Johnson & Johnson (JNJ) reported better-than-expected quarterly results but also noted that lawsuits indicating that its talcum powder products cause cancer persists. JNJ shares fell more than 2%. Lockheed Martin Corporation (LMT) also reported first-quarter results that beat expectations thanks to improvements in its supply chain, sending its shares up more than 2%. Netflix Inc (NFLX) posted a weak report. The company added fewer new customers than expected in the first quarter and delivered below analysts’ estimates for the next three months. Netflix shares initially fell by 11% in after-hours trading after the report was released but then quickly recovered.

Equity markets in Europe mostly rose. German DAX (DE30) gained 0.59%, French CAC 40 (FR40) added 0.47%, Spanish IBEX 35 (ES35) increased by 0.41%, and British FTSE 100 (UK100) closed on Tuesday up by 0.38%.

UK labor market data came out mixed. Estimated vacancies fell by 47,000 in the last quarter. The average pay index came out better than forecasts, but jobless claims rose by 28.2k with an expected 2.5k decline. The unemployment rate rose from 3.7% to 3.8%. Money market pricing in the May meeting now suggests an 83% probability of a 25 bps interest rate hike by the Bank of England. If today’s UK inflation figures do not show a slowdown, the Bank of England is likely to remain firm on another rate hike.

US oil inventories declined by 2.7 mln barrels last week. Oil prices were little changed on Tuesday as upbeat oil consumption data from China (the biggest importer) offset concerns that a possible interest rate hike in the US could slow growth.

Asian markets traded flat yesterday. Japan’s Nikkei 225 (JP225) gained 0.51%, China’s FTSE China A50 (CHA50) added 0.53%, Hong Kong’s Hang Seng (HK50) ended the day down by 0.63%, India’s NIFTY 50 (IND50) fell by 0.26%, and Australia’s S&P/ASX 200 (AU200) ended Tuesday negative by 0.29%. Rising interest rates are unfavorable for Asian indices as higher yields undermine the attractiveness of high-risk assets and also limit foreign capital inflows into the region.

Japan’s major manufacturers remain pessimistic for the fourth consecutive month as concerns over Western banks have exacerbated the slowdown in global growth, dampening prospects for an export-driven recovery. A Tankan survey showed that the economy is on track to recover from the coronavirus, supported by service sector companies, although the slowdown has hit manufacturers in global demand.

Japan will continue on course to meet the central bank’s 2% inflation target by continuing to ease monetary policy, even though it may take time, BoJ Governor Kazuo Ueda said on Tuesday, outlining his stance on maintaining soft conditions.

S&P 500 (F) (US500) 4,154.87 +3.55 (+0.086%)

Dow Jones (US30)33,976.63 −10.55 (−0.031%)

DAX (DE40) 15,882.67 +93.14 (+0.59%)

FTSE 100 (UK100) 7,909.44 +29.93 (+0.38%)

USD Index 101.74 -0.37 -0.36%

• – UK Consumer Price Index (m/m) at 09:00 (GMT+3);
• – UK Producer Price Index (m/m) at 09:00 (GMT+3);
• – Eurozone Consumer Price Index (m/m) at 12:00 (GMT+3);
• – US Crude Oil Reserves (w/w) at 17:30 (GMT+3).

By JustMarkets

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

By ForexTime

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

By JustMarkets

At Monday’s close, the Dow Jones Index (US30) increased by 0.30%, and the S&P 500 Index (US500) added 0.33%. The Technology Index NASDAQ (US100) gained 0.28% yesterday. But despite the gains in the indices, sentiment for growth sectors, including technology, was dampened by a jump in Treasury yields amid growing fears of further Federal Reserve rate hikes.

Shares in Charles Schwab (SCHW) rose by almost 4% after the publication of mixed first-quarter results. The company’s profit beat economists’ expectations, but revenue fell short of forecasts. The brokerage also reported a drop in deposits and said it was suspending its share buyback program. Alphabet (GOOGL) shares fell by 2% on reports that Samsung can abandon Google search in favor of Microsoft’s Bing (MSFT) as the default search engine on its devices, threatening around $3 billion in annual revenues. Apple (AAPL) has announced that it will open a savings account for Apple Card users.

Equity markets in Europe traded flat yesterday. German DAX (DE30) decreased by 0.11%, French CAC 40 (FR40) fell by 0.28%, Spanish IBEX 35 (ES35) gained 0.17%, and British FTSE 100 (UK100) closed on Monday with a 0.10% gain.

ECB head Christine Lagarde warned yesterday that changes in the global economy caused by geopolitics pose a challenge to the European Central Bank and its colleagues. A key finding of leading democracies is that there is a need for greater “resilience” in supply chains – so that they are better insulated from risks ranging from war and pandemics to attempts at coercion by authoritarian regimes.

Oil prices were down by 2% yesterday. The US dollar is strengthening along with rising government bond yields, making dollar-denominated oil more expensive for holders of other currencies. Traders are betting that the Fed will raise its lending rate by another quarter percentage point in May and have pushed back expectations of a rate cut until later this year, as it usually does during a slowdown in economic growth. The IEA also warned in its monthly report that production cuts announced by OPEC+ producers could exacerbate the oil supply shortfall expected in the second half of this year and could hurt consumers and the global economic recovery.

Asian markets mostly rallied yesterday. Japan’s Nikkei 225 (JP225) gained 0.07%, China’s FTSE China A50 (CHA50) jumped by 1.90%, Hong Kong’s Hang Seng (HK50) ended the day up by 1.68%, India’s NIFTY 50 (IND50) fell by 0.68%, and Australia’s S&P/ASX 200 (AU200) was positive by 0.27% by Monday’s end. According to analysts, the prospect of higher interest rates from the US does not bode well for Asian markets, given that it limits the amount of foreign liquidity flowing into the region. But given that most Asian central banks have suspended their respective rate hike cycles, Asian indices could find some support in the short term.

China’s economy grew by 4.5% in the latest quarter, helped largely by the lifting of restrictions against COVID. But other economic indicators were mixed. Industrial production in March was worse than forecast for the second month in a row, indicating that the country’s manufacturing sector is still recovering and has not gained momentum. Nevertheless, strong retail sales data showed that China’s consumption-driven economic recovery is largely on track, which is likely to benefit the country’s exporters in the near term.

The RBA’s March monetary policy minutes showed strong reasons to pause and reassess the need for tightening at future meetings. The board had considered a rate hike in April before deciding to pause. But as inflation remains high, further assessment of data on inflation, jobs, consumer spending, and business conditions is needed.

S&P 500 (F) (US500) 4,151.32 +13.68 (+0.33%)

Dow Jones (US30)33,987.18 +100.71 (+0.30%)

DAX (DE40) 15,789.53 −17.97 (−0.11%)

FTSE 100 (UK100) 7,879.51 +7.60  (+0.097%)

USD Index 102.10 +0.55 +0.54%

• – Australia RBA Meeting Minutes (m/m) at 04:30 (GMT+3);
• – China GDP (q/q) at 05:00 (GMT+3);
• – China Industrial Production (y/y) at 05:00 (GMT+3);
• – China Unemployment Rate (m/m) at 05:00 (GMT+3);
• – China Retail Sales (m/m) at 05:00 (GMT+3);
• – UK Average Earnings Index (m/m) at 09:00 (GMT+3);
• – UK Claimant Count Change (m/m) at 09:00 (GMT+3);
• – UK Unemployment Rate (m/m) at 09:00 (GMT+3);
• – German ZEW Economic Sentiment (m/m) at 12:00 (GMT+3);
• – Eurozone ZEW Economic Sentiment (m/m) at 12:00 (GMT+3);
• – Eurozone Trade Balance (m/m) at 12:00 (GMT+3);
• – US Building Permits (m/m) at 15:30 (GMT+3);
• – Canada Consumer Price Index (m/m) at 15:30 (GMT+3);
• – Canada BoC Gov Macklem Speaks at 18:00 (GMT+3);
• – US FOMC Member Bowman Speaks at 20:00 (GMT+3).

By JustMarkets

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

By JustMarkets 

At the close of the stock market on Friday, Dow Jones Index (US30) decreased by 0.42% (+1.38% for the week), while S&P 500 (US500) lost 0.21% (+1.28% for the week). The NASDAQ Technology Index (US100) fell by 0.35% on Friday (+1.24% for the week).

Short-term inflation expectations in the US jumped to a nearly two-year high at the start of April on the back of higher gas prices, but consumer sentiment did rise. These patterns show that consumers are fully aware that inflation is down from its peak, but high prices still make them feel less financially secure. Despite the minutes of the central bank’s March meeting acknowledging an increased risk of recession later this year, most investors are betting that the Fed will still raise rates by another 25 basis points at its next policy meeting on May 3rd.

The big Wall Street banks started the quarterly reporting season with better-than-expected results. JPMorgan Chase & Co (JPM) jumped +7% after it reported first-quarter results that beat analysts’ top and bottom line estimates. Citigroup Inc (C) and Wells Fargo & Company (WFC) also reported better-than-expected results. The first-quarter reporting season is heating up, and results from Goldman Sachs (GS), Morgan Stanley (MS), and Bank of America (BAC), as well as Netflix (NFLX), Tesla (TSLA), IBM (IBM) and Johnson & Johnson (JNJ), are expected in this week. According to Refinitiv, analysts expect S&P 500 earnings to fall by -4.8% in the first quarter compared with the same period last year.

Equity markets in Europe rose on Friday. The German DAX (DE30) gained 0.50% (+2.61% for the week), the French CAC 40 (FR40) added 0.52% on Friday (+2.61% for the week), the Spanish IBEX 35 index (ES35) increased by 0.33% (+0.95% for the week), the British FTSE 100 (UK100) closed Friday up by 0.36% (+2.73% for the week).

ECB Governing Council spokesman Mario Centeno, who is Portugal’s central bank governor, said on Friday that a quarter-point interest rate hike is the maximum that the European Central Bank should announce at its next meeting. Beyond that, either a pause or a slowdown in the pace of increases is possible. François Villrois de Galleau from the Governing Council of the European Central Bank of France reiterated his view that the cycle of aggressive interest rate rises is coming to an end. But their comments contradict the other ECB officials who are still considering a fourth consecutive 0.5% hike to combat core inflation. The core CPI, in contrast to the overall figure, continues to rise slowly.

The dollar index jumped sharply on Friday as FOMC member Christopher Waller, one of the biggest hawks, said he wanted further monetary policy tightening, despite evidence that inflation in the United States has steadily declined from the highs of recent months. The rise in the dollar has led to a rise in government bond yields. Gold is known to have an inverse correlation to government bond yields, so there has been a collapse in the price of the yellow metal. In the short-term, gold could remain very volatile. But the medium-term outlook points to a renewed historical high.

Oil markets are rising for the fourth week in a row thanks to higher demand forecasts by the IEA global energy agency for 2023. But crude oil prices lost much of Friday’s upward momentum after Fed Chief Waller spoke out in favor of further rate hikes.

Asian markets mostly rallied last week. Japan’s Nikkei 225 (JP225) gained 3.02%, China’s FTSE China A50 (CHA50) declined by 1.06%, Hong Kong’s Hang Seng (HK50) added 1.45%, India’s NIFTY 50 (IND50) jumped by 1.68%, and Australia’s S&P/ASX 200 (AU200) was positive by 1.72%.

The People’s Bank of China kept its medium-term lending rate at 2.75%, keeping monetary policy stable ahead of the key first-quarter GDP figure due to be released on Tuesday.

In the commodities market, futures on coffee (+13.17%), WTI oil (+9.26%), lumber (+9.09%), sugar (+8.45%), Brent oil (+8.44%), gasoline (+5.74%), platinum (+5.52%), silver (+5.42%), orange juice (+2.5%) and palladium (+2.45%) showed the biggest gains last week. Futures on natural gas (-4.96%) and cocoa (-1.5%) showed the biggest drop.

S&P 500 (F) (US500) 4,137.64 −8.58 (−0.21%)

Dow Jones (US30)33,886.47 −143.22 (−0.42%)

DAX (DE40) 15,807.50 +78.04 (+0.50%)

FTSE 100 (UK100) 7,871.91 +28.53 (+0.36%)

USD Index 101.58 +0.57 +0.56%

• – Italian Consumer Price Index (m/m) at 15:30 (GMT+3);
• – US NY Empire State Manufacturing Index (m/m) at 15:30 (GMT+3);
• – Canada Wholesale Sales (m/m) at 15:30 (GMT+3);
• – Eurozone ECB President Lagarde Speaks at 18:00 (GMT+3).

By JustMarkets

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.