This week, global financial markets reacted to a blend of central-bank patience, cooling macro data, and geopolitical events.
Equities Market: Reaction to Data and Events
In the US, the S&P 500 slipped by 0.2%, marking its second consecutive week of losses. Meanwhile, the Dow recorded a modest gain of 0.1%, and the Nasdaq increased by 0.2%. In Europe, the FTSE 100 broke a six-week winning streak, falling by 0.86%. Asia showed mixed results, with Japan's Nikkei 225 up by 0.2%. The Indian Nifty 50 closed the week 1.5% higher.
Commodities: Oil and Gold
WTI crude oil settled at $74.93 per barrel, gaining 2.7% over the week after Israel-Iran conflict headlines. Gold prices slipped by 0.6%, holding near the $1,930 support level.
Global Macro Trends
China reported a slowdown in industrial production growth to 5.8% year-on-year. In Europe, inflation for May was confirmed at 1.9%, aligning with the European Central Bank's target. In the United States, initial jobless claims dipped to 245,000, remaining high. The situation in Iran has also heightened concerns over rising oil prices.
Overall, financial markets continue to respond to macroeconomic and geopolitical factors. Investors remain cautious, awaiting further news on Iran's response to recent events.
