The key events of the week are the release of US inflation data and the European Central Bank’s monetary policy meeting, although no major changes are expected. The ECB is likely to cut interest rates in June, but there is uncertainty regarding the Federal Reserve’s next moves. European stock markets opened weakly after strong gains, with profit-taking and increased caution being observed. Milan is down 0.27%, London down 0.18%, Frankfurt down 0.44%, and Paris down 0.38%, with the spread between Italian BTPs and German Bunds slightly decreasing to 134 basis points. In Asia, markets had a good session, particularly Tokyo, which rose by over one point. The stock of the world’s largest chip producer in Taipei surged after an agreement with the US to transfer a factory to Arizona. Wall Street closed flat, with investors remaining on the sidelines.
The global and geopolitical environment is becoming increasingly uncertain, leading to a rise in the price of gold and setting new records at $2,346 per ounce. The US inflation data and the ECB’s monetary policy meeting are the focus of the week, with the expectation of a rate cut by the ECB in June. The market sentiment in Europe is affected by profit-taking and caution, leading to a weak opening for stock exchanges. Asian markets performed well, with Tokyo seeing significant gains and Taipei witnessing a surge in the stock of a major chip producer. Wall Street remained unchanged, as investors adopted a wait-and-see approach.
The uncertainty in the international and geopolitical landscape continues to drive the price of gold higher. The price of gold has reached a new record at $2,346 per ounce. Investors are closely watching the US inflation data and the upcoming ECB meeting for any hints on future monetary policy decisions. The ECB is expected to cut interest rates in June, while the Federal Reserve’s next moves remain uncertain. European stock markets opened weakly following strong gains, with profit-taking and increased caution being observed across major exchanges. Asian markets, however, experienced a positive session, with Tokyo leading the gains and Taipei witnessing a surge in the stock of a major chip producer.
In conclusion, the focus of the week is on the US inflation data and the ECB’s upcoming monetary policy meeting. The global and geopolitical environment remains uncertain, driving the price of gold to new highs. The ECB is expected to cut interest rates in June, while the Federal Reserve’s future moves are uncertain. European stock markets opened weakly after strong gains, with profit-taking and caution influencing market sentiment. Asian markets had a positive session, with Tokyo and Taipei seeing significant gains. Wall Street closed flat, reflecting investor uncertainty amid an increasingly uncertain global landscape.
