- European indices struggled for momentum during today's session while DAX finished 0.33% lower after Gazprom announced that from Wednesday will reduce gas supply via the Nord Stream 1 pipeline to 33 million cubic meters per day and additionally will halt another Siemens turbine.
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Mixed moods prevail on Wall Street, where Dow Jones and S&P 500 rose over 0.25%, while Nasdaq fell slightly below the flatline. Volatility is limited as investors brace themselves for Wednesday's FED decision and several megacap earnings. Also release of the GDP figures on Thursday and Core PCE data day after may trigger bigger moves on the markets.
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The Federal Reserve Bank of Dallas' general business activity index for manufacturing in Texas decreased to -22.6 in July from -17.7 in June, remaining the lowest since May 2020, which is another worrisome reading from the US economy.
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Energy commodities rose following recent news from Russia. NATGAS jumped above $8.50, a level not seen since mid- June. Oil rebounded, with WTI crude trading above $96.00 per barrel, while Brent approaches $100.00 per barrel.
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Precious metals pulled back despite the weaker dollar. Gold fell below $1720 area, while silver dropped to $18.40 level.
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Currently AUD and CAD are the best performing major currencies while JPY and CHF lag the most.
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Downbeat moods can be also spotted on the cryptocurrency market. Bitcoin dropped slightly below $22.000, while Ethereum fell to the lower limit of the local consolidation zone around $1525 level.
Gold prices once again bounced off from a key resistance zone in the $ 1735 region, which is marked by the upper limit of the 1: 1 structure, previous price reactions and the EMA100. According to the classic technical analysis, as long as the price remains below the aforementioned level, there is a chance for a continuation of the downward trend. Source: xStation5
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