Today, marks the end of a trading week in the stock markets. The S&P 500 and the Nasdaq fell from record highs set a few days ago. The dollar rose slightly, and the 10-year US Treasuries were down around 1.32% after their worst declines since June 2021. 30-year US Treasuries dipped below 1.90% for the first time since February 2021.
Oil prices continued to decline, posting weekly losses similar to April 2021. West Texas Intermediate (WTI) crude oil hit the 2018 high of $73.07 a barrel. Recent tensions among OPEC+ members amid the gradual return to post-pandemic normality have caused oil prices to fluctuate. According to Morgan Stanley, oil prices could hover around $85 per barrel. Gold rose 0.2% to 1805.66 per ounce.
On the cryptocurrency front, Bitcoin is once again trading in negative territory. According to Bloomberg, Bitcoin’s low trading range can be attributed to the ardor for cryptocurrencies declining. A few days before, the multinational currency exchange Binance made headlines as the UK blocked it from operating in the country, causing a fall in digital assets.
Today, some economic events and publications could generate volatility in the markets:
- United Kingdom Manufacturing Production m/m
- United Kingdom Gross Domestic Product (GDP) m/m
- United Kingdom Gross Domestic Product (GDP) 3m/3m
- European Central Bank (ECB) President Lagarde Speech
- Canada Employment Change
- The G20 meeting in Venice, Italy
At Traders Trust you can trade CFDs on more than 80 assets ranging from indices, oil, forex, metals, and cryptocurrencies. Open a trading account with a trusted broker that has been in the financial markets for over a decade and enjoy premium trading conditions.