Economic uncertainty and fluctuating rates on global markets
The Organisation for Economic Co-operation and Development (OECD) has issued a major warning about the global economy. According to the organisation, global growth will slow down in the coming period instead of accelerating. Economic developments in the United States, in particular, play a major role in this, as activity there is becoming less robust.
Despite the OECD's gloomy forecast, there was a positive mood on European stock markets around midday. Prices in Europe rose after strong economic figures from China were announced. Investors reacted enthusiastically to these reports, resulting in green numbers on the boards in Europe.
In the United States, the situation on the stock market is less clear-cut. There are various signals regarding the opening of Wall Street. While some analysts predicted a slightly higher start, other figures pointed to a slightly lower opening. The American stock markets therefore still seem to be looking for a clear direction at the start of the week.
There is also new data on the US economy affecting investor confidence. Retail sales rose less than expected in February. Additionally, industrial activity in the New York region, the so-called Empire State index, fell sharply in March. This indicates a decline in industrial production in that area.
The US housing market is also showing a negative trend. Confidence among home builders in the United States fell further in March. Another economic figure, business inventories, showed an increase in January. However, this increase was exactly as experts had previously expected, so there was no major surprise for the market.
For investors in precious metals, there is positive news from the bank UBS. The bank expects the gold price to rise further in the near future. Last week, the price of gold already reached a record high of more than 3,000 dollars per troy ounce. UBS believes that this upward trend will continue due to the ongoing demand for safe-haven investments.
Finally, there is movement in the crypto market, specifically with the digital currency Ripple (XRP). Analysts are keeping a close eye on the price to see if a major upward breakout is imminent. Although the crypto market offers many opportunities, experts warn that risks remain high and that the coin must now make an important choice for the future.