
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
A new trading week is coming. And this week’s market news is:
17:30, US Dallas Fed Manufacturing Business Index
Speakers from ECB: Frank Elderson (‘Hawk’) and Isabel Schnabel (‘Hawk’)
Speakers from BoE: Andrew Bailey
15:30, US Goods Trade Balance
15:30, US Wholesale Inventories (MoM)
17:00, US Conference Board Consumer Confidence
11:30, UK Mortgage Approvals and Mortgage Lending
17:00, US Pending Home Sales
17:30, US EIA Crude Oil Stock Change
12:00, EU Economic Sentiment
15:00, German Inflation Rate
15:30, US Initial Jobless Claims
15:30, US GDP Growth Rate
08:00, Japan Housing Starts
09:00, UK GDP Growth Rate
10:55, German Unemployment Rate
12:00, EU Inflation Rate and Unemployment Rate
15:30, US Personal Consumption Expenditure
S&P: China's GDP growth forecast for 2023 = +5.5% (higher than the Chinese government's forecast of 5%). Earlier: IMF Head: ‘In 2023, China is expected to account for about a third of global growth
Problems with Deutsche Bank started last week. This time it’s the case of ‘Too Big To Fail.’ Deutsche Bank’s assets are worth 1.4 trillion euros (3 times higher than Credit Suisse’s). European officials and regulators are non-stop declaring the bank's sustainability, and the ECB has promised unlimited bailouts at short notice.
First Citizens BancShares buys Silicon Valley Bank
As a result, on Friday, Gold broke the $2000 level again. The resistance is extremely strong, so that we may expect local corrections before the breakthrough.
Bitcoin is high too. The price reached the $28000 level, but technically the price is too high from the 200MA, which means that correction is on its way. The price may bounce back to $25000. We strongly recommend being careful with this asset.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
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