US stock market:
US stocks found bullish momentum after new inflation data, which matched experts' previous forecasts, prompted investors to expect interest rate cuts this year, with the first expected to take place in September.
At the end of the weekend session (July 26), the Dow Jones index increased by 654.27 points (equivalent to 1,64%) to 40,589.34 points. The S&P 500 index also increased by 1,11% to 5,459.10 points. The Nasdaq Composite advanced by 1,03% to 17,357.88 points.
US Treasury bond situation:
The yield on 10-year US Treasury bonds fell slightly this morning, fluctuating around 4.176%, down from the level recorded at the end of last week at 4.194%.
Calculate Dollar Index:
The US Dollar Index (DXY-Index) remained in a narrow range of 104-104.55 last week. Early this morning, July 29, the DXY fluctuated around 104.32 points.
About the gold situation:
The world gold price this morning has a tendency to recover, the world spot gold price increased by more than 3 USD compared to the closing price of last week to more than 2,390 USD/ounce. The gold futures price also had a similar development, early this morning, the futures price increased by about 58 USD, up to nearly 2,439 USD/ounce.
On the situation of the commodity trading market:
WTI and Brent crude oil prices both declined in the last session of last week. At the end of the session on July 26, WTI crude oil contract decreased by 1.12 USD (equivalent to 1.43%) to 77.16 USD/barrel, while Brent crude oil contract decreased by 1.24 USD (equivalent to 1.51%) to 81.13 USD/barrel.
Oil prices retreated despite positive U.S. economic data over the weekend, including preliminary GDP growth in the second quarter of 2.8%, stronger than forecast, as oil contracts came under selling pressure from investors as the world's largest crude importer, China, slowed imports. In addition, China's interest rate cut last week raised doubts about the recovery of the world's second-largest economy.
Source: SFVN – Commodity investment with experts
