Economic uncertainty in the US and Europe, but opportunities for gold and crypto
The OECD (Organisation for Economic Co-operation and Development) warns that global economic growth is set to slow down. Developments in the United States, in particular, play a major role in this. Despite this gloomy forecast, various markets are showing a mixed picture today.
In Europe, the mood around midday was positive. European stock markets were in the green, partly thanks to strong economic figures from China. However, investors are also looking forward with anticipation to the opening of the US markets later today.
Expectations for Wall Street are currently still unclear. While some reports point to a slightly higher start, other figures show a possible decline in prices. This is partly due to the Empire State index, which indicates that industrial activity in the New York region fell significantly in March.
Other economic figures from the United States are also not entirely positive. Retail sales in February rose less than experts had expected. On the other hand, inventories at US companies grew in January exactly as expected, providing a small amount of stability.
The US housing market is also currently struggling. Confidence among homebuilders fell further in March. This indicates that the construction sector in the United States is still suffering from economic pressure and uncertainty about the near future.
There is good news for investors in precious metals. The bank UBS expects the price of gold to rise further. After the price of gold recently reached a record high of more than $3,000 per troy ounce, the metal remains a popular choice for investors seeking safety.
Finally, there is a lot of attention on the crypto market. The digital currency Ripple (XRP) is at a critical point and must choose a direction. Analysts are wondering if there will soon be a major breakout in the price, which brings both opportunities and risks for crypto investors.