Economic uncertainty and fluctuations in global markets
The OECD (Organisation for Economic Co-operation and Development) has issued a major warning about the global economy. According to the organization, global growth will slow down rather than accelerate in the coming period. This prediction is largely based on economic developments in the United States, which have a major influence on the rest of the world.
Despite the OECD's gloomy forecast, European stock markets showed a positive picture around noon. Prices in Europe rose after strong economic figures from China were announced. These positive reports from Asia temporarily gave European investors more confidence in the market.
In the United States, the situation on the stock market was less clear-cut. There were mixed signals about the opening of Wall Street on Monday. While some predictions pointed to a flat to slightly higher start, other figures indicated that the markets could open slightly lower. This uncertainty led to a cautious attitude among American investors.
New figures were also released regarding American retail and industry. Retail sales rose less sharply in February than experts had expected. In addition, there was a significant decline in industrial activity in the New York region. The so-called Empire State index, which measures this activity, showed a sharp decrease in March.
The American housing market and business inventories were also in the spotlight. Confidence among homebuilders in the United States fell further in March, pointing to ongoing challenges in the construction sector. However, business inventories in January rose exactly in line with economists' expectations.
Finally, there is movement in the market for precious metals and cryptocurrencies. The bank UBS expects the gold price to rise further after it recently reached a record high of more than $3,000 per troy ounce. Meanwhile, cryptocurrency investors are looking at Ripple (XRP). This coin is at a critical point and must soon choose a direction, with a major price change being possible.