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US stocks grew very strongly last week, so major indices closed relatively higher on Friday. Dow Jones was up 1.3%, while S&P 500 and NASDAQ climbed 1.1% and 1%, respectively.
UK indices also rose 1.3%. And this morning, Asian markets showed a sharp rise, by as much as 2.2% in Japan indices and 1.3% in China indices.
The oil market also posted a noticeable increase, winning back half of the fall it had at the beginning of last week. Now, Brent costs $ 75 ahead of US inflation data on Tuesday.
Talking about economies, Japan reported that orders for mechanical engineering products jumped 7.8% in May, which is significantly higher than the forecast. Germany also declared that its GDP grew 10.7% in June.
And over the weekend, G20 finance ministers met, during which they approved an agreement about setting the minimum level of income tax for multinational companies at 15%. The final approval of the deal is scheduled for October.
With regards to the world's epidemiological situation, latest data say new COVID-19 cases increased over the weekend, with UK recording 31,000 new infections and US listing 6,600.
Going back to the markets, S&P 500 hit 4.369 points and ranged from 4.320 - 4.400 points. Most likely, it will move according to new economic data that will be released this week. One example is US inflation, which is forecast to remain at a very high level.
Surprisingly, the USD index fell to 92.10 points and ranged from 91.60 - 92.60 points. This suggests that dollar is not ready to soar yet, and like the stock market, is waiting for the report on US inflation.
Accordingly, USD/CAD also declined in price, trading at 1.2470. It ranged from 1.2400-1.2550.
Conclusion: Economies of developed countries continue to recover, but the worrisome factor is inflation, primarily in the United States. Seeing a sharp jump could force central banks to tighten their monetary policies, which will cause a decrease in economic activity and deep correction in the stock and commodity markets.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
