U.S. Dollar vs Precious metals
U.S. Dollar Index is trading lower today shortly before the release of reports on U.S. Consumer Inflation and June Retail Sales. Generally speaking, US Dollar was on the better level this week after Fed Chair Janet Yellen showed deeper concerns over the persistently weak inflation during her testimony before the Senate Banking Committee earlier this week. Gold price jumped higher exactly after the results of Yellen’s speech because investors don’t want the Federal Reserve to raise interest rates anytime soon. Among other precious metals: silver price rose this morning, platinum and palladium prices are also up.
Stock Market Today
U.S. stocks on Friday opened mixed S&P 500 2447.45 (-0.02%) and NASDAQ Index 6286.79 (+0.21%), Dow Jones Industrial Average 21536.48 (-0.08%).
Wall Street Indexes were mixed today ahead of the first set of earnings from the big Wall Street banks.
The Consumer Price Index and retail sales report for June will be released today. Data on industrial production for June also will be released.
Geopolitical tension keeps weighing down the global markets. After North Korea successfully launched its first intercontinental ballistic missile on July 4, US Administration may enforce new sanctions on small Chinese banks and firms for their connections to North Korea’s nuclear and missile programs.
Economic data for today: Consumer Price Index, Retail Sales, Industrial Production