Economic uncertainty and mixed signals on global markets
The OECD warns that global economic growth is set to slow down. Developments in the United States, in particular, play a major role in this. Although many people hoped for faster growth, the global economy seems to be slowing down rather than accelerating.
Despite this gloomy forecast, European stock markets were in the green around noon. This was mainly due to positive economic figures from China. Investors in Europe reacted enthusiastically to these reports from Asia, which created a positive atmosphere on the European markets.
In the United States, the picture at the start of the day was less clear. Forecasts for the opening of the Wall Street stock exchanges fluctuated between a slightly higher and a slightly lower start. Additionally, it appeared that American consumers spent less than expected in February. Retail sales did rise, but growth was weaker than economists had hoped.
Other figures from the US also show a decline. Industrial activity in the New York region, measured by the Empire State index, fell significantly in March. Furthermore, confidence among US homebuilders fell further in March. This points to a difficult period for both the manufacturing and construction sectors.
There was also news about US business inventories; these rose in January exactly in line with analysts' expectations. Meanwhile, many investors are looking to gold as a safe investment. Bank UBS expects the gold price to rise further, after it recently reached a record high of more than $3,000 per troy ounce.
Finally, there is a lot of movement in the crypto market. The digital currency Ripple (XRP) is at a critical point and must choose a clear direction. Analysts wonder whether a major price increase is coming soon. According to experts, the cryptocurrency market remains a place of both great opportunities and significant risks.