The US market could be a trap

By 05/07/2021News
morning-news

Gold  1787,34
(-0,02%)

EURUSD   1,1858
(-0,06%)

DJIA  34623,50
(+4,16%)

OIL.WTI  75,09
(+22,28%)

DAX   15648,50
(+3,08%)

Another trading week ends with growth. It is not at all clear what the driver is, but most likely the US market has now decided to try its hand at being Las Vegas. Where one wants to take a lot of risks.


S&P500

S&P500

A very strong US jobs report came out, after which there was serious talk that the Fed would start to raise rates. But of course the Fed will not be reckless. Such reports are not enough to make serious interest rate decisions. After all, it is summer, a time of holidays and it is unlikely that the Fed will start to act to cut the quantitative easing programme at this time. Most likely, they will start to act in autumn, when the majority is in the market.
OPEC+ negotiations were very important for global markets last week. OPEC was in favour of an increase in production by 700 kbpd.
In the current situation there is still the question of where commodity prices will go. Global inflation is just picking up and global commodity prices are breaking records.
What follows is likely to be a correction, which at the moment is difficult to anticipate. A huge period of growth has to be corrected somewhere in any case.

03.30 Australian retail sales for May
10.00 Markit Composite PMI Final in Germany for June


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