Currencies, bonds, commodities – the euro has hardly budged – the economy

At the end of the week, economic data from the US had little impact on the foreign exchange market. The euro traded little against the dollar on Friday at $ 1.1809. In terms of the impact on growth and price pressures, traders looked at the surprising increase in US retail sales in June, up 0.6% from the previous month. Experts expected a decline of 1.3%. “As the boost from extraordinary government spending wanes, consumers, some of whom are likely still unemployed, must shoulder the burden of sustaining the economy,” said Marshall Gittler, chief analyst at the brokerage firm. BDSwiss.

Given the rise in consumer prices in the United States, investors are now wondering when exactly the US Federal Reserve will reduce its monetary policy support to the economy.

With the spread of the more contagious Delta variant of the coronavirus, some investors feared the global economic recovery was weakening and resorted to safe Bunds. This pushed the ten-year German government bond yield to a low of less than 0.355% in three and a half months. In the oil market, prices fluctuated around their values ​​from the previous day after their recent losses. A barrel of the Brent variety last cost $ 73.24, down 0.3%. Meanwhile, the price of nickel climbed 2.5% to a five-month high of $ 19,205 per tonne. Strong demand meets tight supply, Commerzbank analyst Eugen Weinberg said. In addition, investors feared delivery shortfalls due to unrest in South Africa, a major export country. Since stocks have also fallen recently, the price will remain high.

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