Expectations for a Decrease in Inflation Rates Today
market news summary
European stock indices rose at the end of yesterday’s session, Monday, June 12, amid anticipation of central bank meetings in the United States, Europe, and Asia this week. At the end of the session, the STOXX600 index rose by about 0.16% to 460 points.
The German DAX rose by 0.9%, reaching 16,097 points, while the French CAC ended the session up by about 0.52% at 7,250 points. The UK’s FTSE also increased by 0.1% to 7,570 points.
Investor and billionaire Ray Dalio believes that US Treasury bonds have become risky as the country with the largest economy in the world falls deeper into a debt crisis.
Dollar Index (USDX)
The US dollar traded largely flat on Monday, near multi-week lows as traders seemed reluctant to take positions at the start of the week which includes a policy-setting meeting by the Federal Reserve.
Pivot point: 103.50
| Resistance level | Support level |
| 103.80 | 103.30 |
| 104.00 | 102.95 |
| 104.30 | 102.75 |
Spot Gold (XAUUSD)
Gold prices declined during Monday’s session on June 12, after recording gains last week, amid anticipation of the Federal Reserve meeting. Markets expect a 79% chance that the Fed will keep interest rates unchanged and a 68% chance of a rate hike in July.
At the close, gold futures dropped by approximately $7.5 or 0.4% to $1,969.7 per ounce.
Pivot point: 1.957
| Resistance level | Support level |
| 1966 | 1948 |
| 1975 | 1940 |
| 1984 | 1931 |
Dow Jones Index (DJ30ft – US30)
US indices closed higher collectively in Monday’s session, supported by the recovery of major stocks amid optimism about a slowdown in inflation rates and the decision to keep interest rates unchanged this week.
The Dow Jones Industrial Average rose by approximately 0.6%, or around 190 points, on Monday, closing above the 34,000 level for the first time since early May.
Pivot point: 34020
| Resistance level | Support level |
| 34150 | 33945 |
| 34225 | 33810 |
| 34360 | 33735 |
Risk Warning
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