Economic growth slows as stock markets search for direction
The OECD warns that global economic growth is slowing down. Instead of an acceleration, the organization sees the global economy growing less rapidly. Developments in the United States, in particular, play a major role and are influencing the rest of the world.
The picture on the stock markets was mixed today. European markets were higher around noon, partly thanks to positive economic data from China. In the United States, the situation on the stock market was less clear. While some signals pointed to a higher opening for Wall Street, other forecasts showed a slight decline.
Various figures from the US economy caused this uncertainty. For example, retail sales in February rose less than experts had expected. In addition, there was bad news from the manufacturing sector in the New York region; the so-called Empire State index fell significantly in the month of March.
There is also caution in other sectors in the United States. Confidence among US homebuilders fell further in March, indicating that the housing market is currently struggling. On the other hand, general business inventories in the US rose in January exactly as expected, which was in line with previous forecasts.
Meanwhile, investors are looking at other investments, such as gold. The bank UBS expects the gold price to rise even further. This advice comes after the price of gold already reached a record high of more than 3,000 dollars per troy ounce last Friday. Gold is seen by many investors as a safe choice when the economy is uncertain.
Finally, there is a lot of attention on the crypto market, specifically for the coin Ripple (XRP). Analysts say that Ripple is at a key point and must soon choose a clear direction. Investors are waiting anxiously to see if there will be a major breakout in the price, as the market is currently full of risks but also opportunities.