Victor Camargo
06/08/2021
Forex
EURUSD : This Tuesday, the euro was falling, trading in the region of1,217, amid mixed economic data and as investors await the meetingfrom the ECB on Thursday. Yesterday, Chancellor Angela Merkel warned that global shortagesof semiconductors that could last until at least mid-2022, is making it difficult toGermany’s economic recovery.
DXY : With investors wary of US inflation data to beReleased this week, the DXY index was up around 90.1. The CPI reportshould provide more clarity on the Fed’s next steps
Commodities
Gold : Declining, gold remained below USD 1900 an ounce, while the dollar wasrecovers slightly. The metal has been highlighted because of its importantrole as an asset to protect against inflation.
Indexes
Wall Street : Little changed, the main US indices were between slight increasesand lows. An optimized economic perspective due to the vaccination programsuccess and the unprecedented support of monetary policy has pushed stock markets to levelsrecords recently. However, along with this economic boom, there werepersistent concerns that rising inflation could force the Fed to tightenmonetary policy earlier and more abruptly than expected. As a result,investors seemed quite reluctant to open new positions before thehighly anticipated US inflation report for May
Europe : In Europe, indices closed higher today with the DAX 30 hovering close torecord highs as investors gauge optimism about recoveryregion and fears about inflation. The Eurozone economy contractedless than initially thought in the first trimester, with a drop inhousehold consumption partially offset by increases in fixed investment andexports. The optimism was fueled by evidence that the bloc is becomingrecovering from a double-dip recession caused by the pandemic as itvaccination picks up speed after a late start due to shortage ofsupplies
News
Euro Area GDP Growth Rate : The Eurozone economy shrank 0.3% in the quarterin the first three months of 2021, compared to a preliminary estimate ofcontraction of 0.6%. Still, the bloc entered a double-dip recession toas activity and demand were hit by new restrictive measuresimposed during that period to contain the spread of the coronavirus. A fallThe sharp increase in household consumption was partially offset by an increase in thefixed investment and positive contributions from net trade and stocks. Between thelargest economies in the bloc, Germany, France, Spain and the Netherlands entered intoterritory of contraction, while Italy’s economy recorded modest growth,despite the restrictions. YoY, GDP fell 1.3% in the first quarter, much less thana second estimate drop of 1.8%
United States Job Openings : The number of job openings in the USincreased by nearly 1.0 million in April from the previous month, to a new recordof 9.286 million, easily surpassing expectations of 8.3 million. jobs werecreated in various industries, with the largest increases being recorded inlodging and food services (+349,000), other services (+115,000) andmanufacturing of durable goods (+78,000). Meanwhile, there have been declines in services.educational (-23,000) and in mining and logging (-8,000). big andsmall entrepreneurs complain about the difficulty of finding workersin spite of the high unemployment rate due to the pandemic. The number ofhiring increased by 69 thousand, to 6.075 million, while total absences,including layoffs, layoffs, among others, increased by 324,000 to 5,760millions
Source:https://wintrademarkets.com/
