- European indices ended weekly trading in a bullish mood. The DE30 gained 1.52%, the FRA40 rose 1.72% and the UK 100 finished 1.06% higher. Sentiment improved after fresh GDP readings showed that the Eurozone economy grew by 0.7% q / q and 4% y / y, respectively, against expectations of 0.2% q / q and 3.4% y / y. r. Investors did not care too much about the fact that inflation soared to the level of 8.9% YoY (expected 8.6% YoY)
-
The Dow is trading 0.60% higher, while the S&P 500 and Nasdaq jumped 1.1% and 1.45%, respectively, as upbeat guidance from technology giants overshadowed another slew of economic data.
-
Amazon surged over 11% after the e-commerce titan beat Wall Street's quarterly revenue estimates while offering a solid financial outlook. Microsoft, Apple, and Alphabet have all also issued upbeat results in the future.
-
The Fed's preferred inflation measure, the US core personal consumption expenditures price index, came slightly above expectations, suggesting that the peak of inflation is yet to come.
-
The University of Michigan consumer sentiment rose to 51.5 in July from a record low of 50 in June, slightly above market estimates.
-
Brent crude briefly rose to $106.50 per barrel and WTI tested $ 101.50 per barrel, however buyers failed to uphold momentum in the evening and gave away most of the early gains
-
Gold rose sharply above $ 1760 per ounce, while silver broke above psychological resistance at $20.00 amid weaker dollar and lower bond yields,
-
Currently CHF and JPY are the best performing major currencies while NZD and AUD lag the most.
-
Crypto rally paused on Friday. Bitcoin price returned below $24.000, while Ethereum is testing support at $1700.
GOLD prices extended rally during today's session and broke above local resistance at 41760, which is marked with 78.6% Fibonacci retracement of the upward wave stated in March 2021. If current sentiment prevails, the next target for buyers is located at $1823. Source: xStation5
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
