CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Daily summary: Wall Street slips on Amazon earnings and rising PCE price index

17:54 30 July 2021
  • US core PCE inflation surges at fastest pace in 30 years
  • Amazon shares drag Wall Street lower
  • FED Bullard believes that tapering should start this fall

The US core PCE inflation, excluding food and energy, fell to 0.4% m / m in June, from a 0.5% increase in the previous month and below market expectations of 0.6%. However, the annual rate the Fed uses as its headline indicator for inflation rose to 3.5% in June from 3.4% in the previous month. Today's reading fell below analysts' estimates at 3.7%, but this is a level not seen for 30 years. Fed members reiterate that price pressure is a temporary phenomenon due to fiscal stimulus, supply constraints and rising commodity prices. The Fed is probably happy with the data as they may confirm the thesis that the price increase may be temporary and justify keeping the current policy unchanged.

Nevertheless, the US dollar held firm today. The EURUSD pair fell significantly below 1.1900, which is related to Bullard's statement, who not only expects the QE program to be tapped in the fall, but also sees the prospects of interest rate increases next year. Bullard indicates that the labor market will behave much better than expected, which should give a chance for a change in monetary policy. Given such harsh words, market movements were limited.

Start investing today or test a free demo

Open account Try demo Download mobile app Download mobile app

We saw mixed sentiment on Wall Street. Investors were not very optimistic about Amazon's quarterly report, which showed a smaller increase in sales than in the previous quarter, which suggests declining consumer interest. Robinhood shares have come under pressure today as well, which shows that investors are unsure about the company's future.

Coffee has lost more than 8% since yesterday's close, falling below 180 cents a pound. The first reports of subsequent frosts indicate their limited impact on coffee crops. Lower temperatures are also expected to persist during the weekend, but only in some areas of Minas Gerais, which is mainly responsible for the production of Arabica.

Gold prices rose sharply during yesterday's session however buyers failed to break above major resistance at $1830 and price pulled back. This level is marked with 50 SMA (green line) and 38.2 Fibonacci retracement of the downward wave from August 2020. If current sentiment prevails then support at $1800 may be at risk. Source: xStation5

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Back
Xtb logo

Join over 935 000 investors from around the world

We use cookies

By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

This group contains cookies that are necessary for our websites to work. They take part in functionalities like language preferences, traffic distribution or keeping user session. They cannot be disabled.

Cookie name
Description
SERVERID
userBranchSymbol cc 2 March 2024
adobe_unique_id cc 1 March 2025
test_cookie cc 1 March 2024
SESSID cc 9 September 2022
__hssc cc 1 March 2024
__cf_bm cc 1 March 2024
intercom-id-iojaybix cc 26 November 2024
intercom-session-iojaybix cc 8 March 2024

We use tools that let us analyze the usage of our page. Such data lets us improve the user experience of our web service.

Cookie name
Description
_gid cc 9 September 2022
_gat_UA-22576382-1 cc 8 September 2022
_gat_UA-121192761-1 cc 8 September 2022
_ga_CBPL72L2EC cc 1 March 2026
_ga cc 1 March 2026
AnalyticsSyncHistory cc 8 October 2022
af_id cc 31 March 2025
afUserId cc 1 March 2026
af_id cc 1 March 2026
AF_SYNC cc 8 March 2024
__hstc cc 28 August 2024
__hssrc

This group of cookies is used to show you ads of topics that you are interested in. It also lets us monitor our marketing activities, it helps to measure the performance of our ads.

Cookie name
Description
MUID cc 26 March 2025
_omappvp cc 11 February 2035
_omappvs cc 1 March 2024
_uetsid cc 2 March 2024
_uetvid cc 26 March 2025
_fbp cc 30 May 2024
fr cc 7 December 2022
muc_ads cc 7 September 2024
lang
_ttp cc 26 March 2025
_tt_enable_cookie cc 26 March 2025
_ttp cc 26 March 2025
hubspotutk cc 28 August 2024

Cookies from this group store your preferences you gave while using the site, so that they will already be here when you visit the page after some time.

Cookie name
Description
personalization_id cc 7 September 2024
UserMatchHistory cc 8 October 2022
bcookie cc 8 September 2023
lidc cc 9 September 2022
lang
bscookie cc 8 September 2023
li_gc cc 7 March 2023

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".

Change region and language
Country of residence
Language